Figure 2.14: “It is obvious that my government has recently been pushing to enlarge the credit pool given to SMEs”
This has translated into more “talking” than doing or a “buzz efect” that did not translate in real access of African startups to fnance. “Lately, I have noticed there is more talking about and focus on SMEs in my country”.This is refected by 66% of our respondents agreeing with the above statement.
Figure 2.15: ““Lately, I have noticed there is more talking about and focus on SMEs in my country”
Financial Products for SMEs
In this section we track how respondents feel about the fnancial products ofered to their companies ( Table 2.3)
On the availability of the fnancial products there doesn’t seem to be a problem. On the suitability of fnancial products range to the specifc needs of SMEs, there seems to be an inadequacy as indicated by the number of respondents who agree/strongly agree on this statement (47,2%). This is even reinforced in the (does not match my company’s needs statement) as highlighted by the number of respondents who agree/strongly agree on this statement (45,4%). On the pricing of the fnancial products available for SMEs, there seems to be a challenge as witnessed by the high percentage of respondents who fnd the fnancial ofering too expensive (53,6%). Finally, on the geographic proximity and reachability (is geographically located too far away from where I live /work) of fnancial products’ ofering, there doesn’t seem to be a relevant problem in this regard. On the contrary more than 62% of respondents fnd that this is not a problem they are facing. Therefore, the challenges of pricing and adequacy of fnancial product oferings for African SMEs are the two prominent challenges related to the fnancial product ofering.
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