Mauritania: Invest In Africa signs strategic partnerships for growth

Invest in Africa accompagne les entreprises locales à participer aux opportunités que l’industrie peut offrir aux économies locales. En Mauritanie, Invest in Africa collabore déjà avec l’opérateur Bp dans le cadre de son engagement continu en faveur des capacités locales pour le projet GTA.

COMECA S.A, one of SNIM's main subsidiaries

COMECA s.a, a subsidiary of SNIM, leader in Mauritania in the fields of structural engineering, manufacturing of mechanical parts by machining and mechanized welding, supply of turnkey projects and rewinding of LV engines, and the Mauritanian division of Invest in Africa (IIA), a non-profit initiative focused on the growth of local businesses in Africa, have signed a multi-year partnership agreement. The aim is to promote Mauritania's technically advanced manufacturing industries and demonstrate the country's know-how. Mauritanian companies are capable, with well-trained and highly qualified personnel, of providing engineering services to international standards and for the needs of the extractive industry..

Commenting on the partnership agreement, the CEO of COMECA s.a, Moulaye Jeddou, expressed his satisfaction: "COMECA is delighted with this partnership. We see this as an opportunity to connect to a wider range of opportunities, to showcase our brand and to embody our parent company's mission to become the locomotive of Mauritania's socio-economic and industrial development.

Bocar-Alpha Ba, Country Director of IIA Mauritania, said: "We are deeply pleased and incredibly proud to have been able to sign with COMECA s.a, one of the main subsidiaries of SNIM, the largest private employer in Mauritania. This is not the end, but just the beginning of a promising long-term partnership. We believe in Mauritania and we have faith in the local workforce and businesses. We believe in the commitment of our key partners to use their local buying power as a force for good to strengthen the economy.

Through improved access to skills, markets and finance, Invest in Africa supports Mauritanian companies and promotes the local economy, in line with the priorities set by the Mauritanian authorities (Government, APIM, etc.).

ConnectPME to promote digital financial inclusion of local SMEs.

ConnectPME, a local FINTECH in full regional expansion, and Invest in Africa Mauritania (IIA), a non-profit initiative focused on the growth of African small and medium-sized enterprises (SMEs), have signed a partnership agreement to expand and facilitate access to finance for entrepreneurs and SMEs in Mauritania.

This partnership illustrates the agreement between IIA Mauritania and the innovative ConnectPME platform, to support entrepreneurs and accompany them to access financing, capacity building and to connect them to relevant opportunities. This partnership aims to remove some of the major obstacles to the financial inclusion of small and medium enterprises in Mauritania through innovative tools such as the digitisation of the entire application process, digital registration (KYC), and alternative scoring to assess risk. ConnectPME is able to accelerate and optimise both the process of seeking finance and the decision making of financial partners and implementing partners of development and private investment programmes.

Both Invest in Africa Mauritania and ConnectPME have a proven track record of successful operations in West Africa.

Improving access to inclusive finance will address a range of business constraints currently faced by SMEs. These include the lack of structured business plans and difficulties in accessing national and international loan markets. This partnership will also enable SMEs to receive advice on financing and training to increase their business potential.

Commenting on the partnership agreement, Ahmed Youssouf, Founder and Director of ConnectPME, expressed his joy and motivation to collaborate with IIA: "ConnectPME is delighted with this partnership. We are happy to provide our support and innovative services to promote inclusive finance and the development of Mauritanian businesses." Bocar-Alpha Ba, Director of IIA in Mauritania, said: "This is a crucial period of economic development for Mauritania and SMEs must be given the opportunity to develop. The commitments of ConnectPME to facilitate access to inclusive finance for SMEs is exactly the kind of new approach our local market needs. We are aligned in our desire to move forward, this bold partnership is an example of how to help local businesses thrive."

Our collaboration is perfectly in line with the ambitions of the Mauritanian government and public agencies (APIM, etc.) to support the private sector and stimulate the development of local businesses. Through better access to skills, markets and finance, Invest in Africa supports Mauritanian champions and promotes the local economy.