- Initiative France will rely on four Burkina Faso Initiative platforms to contribute to the financing and support of entrepreneurial creation or development projects in the region
- Schneider Electric and the Ouagadougou and Bobo Dioulasso partner training centres will provide technical training to entrepreneurs
- The Schneider Electric Foundation will finance unsecured loans and support for entrepreneurs
Schneider Electric, the leader in digital transformation of energy management and automation, and Initiative France, the leading French network of associations offering finance and support to business creators, investors and developers, have partnered to deploy a training, financing and support program for entrepreneurs in the energy sector in Burkina Faso.
Through the implementation of this four-year program (2018-2021), the aim is to support 80 informal entrepreneurs1 in the energy sector and to develop a virtuous ecosystem. The program includes a training course to acquire technical skills in the trade and financing solutions through the granting of unsecured loans ii and business creation support via the four Burkina Faso Initiative platforms. As the unsecured loans are repaid, other entrepreneurs will then be supported. In conjunction, mentoring may also be introduced to support the entrepreneur in their strategic approach.
Supporting Burkina Faso’s National Plan for Economic and Social Development (PNDES) One of Burkina Faso’s major challenges is to create sustainable jobs, particularly for young people and women entering the job market. In July 2016, the Burkina Faso government adopted the National Plan for Economic and Social Development (PNDES) to help country’s development. The Plan focuses on sustainable and inclusive development of human capital as a growth driver for the economy, job creation and sustainable development.
Two players committed to promote entrepreneurship in Africa
Since 2007, Initiative France has rolled out its unique concept to support entrepreneurship globally. Currently, the network has 18 platforms contributing to economic development and employment in the Maghreb and West Africa. In Burkina Faso, Initiative France has supported the creation of four local platforms that actively contribute to the financing and support of business creation or development projects in the region (Tenkodogo Initiative, Ouagadougou Initiative, Bobo Dioulasso Initiative, Plateau Central Initiative).
“Although our network is already implementing numerous actions to promote economic development in Burkina Faso, particularly in favor of entrepreneurship among women, we intend to boost the skills of the four local platforms even further and the partnership with Schneider Electric fully contributes to this. This partnership is therefore a valuable asset. It will enable us to offer a joint solution that meets the specific needs of these project initiators as closely as possible, while also taking advantage of the expertise of Schneider Electric and of its Access to Energy program. It will also help to strengthen local skills in entrepreneurship linked to the energy sectors”, says Bruno Casalan, International Development Manager of Initiative France.
Committed to the 17 Sustainable Development Goals (SDGs) set by the United Nations, Schneider Electric is particularly invested in SDG 7 or ensuring access to sustainable energy for all as a prerequisite for child education, quality of life and economic development. In 2009, Schneider Electric launched its Access to Energy program with the objective of supporting vocational electrical training, in partnership with local organisations. Since then, the program helped more than 190,000 people in more than 45 countries. Moreover, between 2009 and 2020, Schneider Electric will have helped train 20,000 young people in 22 African countries with around 90 partners. In 2018 alone, 5,200 young people will be trained.
“Thanks to our partnership with Initiative France, Schneider Electric will enable informal entrepreneurs to gain technical skills and the ability to create and manage an economic activity, explains Diane le Goff, Training & Entrepreneurship Manager of the Schneider Electric Energy Access program in Africa. The aim is to create an ecosystem that favors and finances business creation in the energy sector sustainably. Today, 80% of Burkina Faso’s population has no access to electricity. We are convinced this program will accelerate access to energy, and economic and social development of populations.”
Supporting and promoting entrepreneurial initiatives in the energy sector
To boost the impact of their respective actions in the development of energy-related trades, Schneider Electric and Initiative France work in close collaboration to provide joint solutions that offer support to informal workers from these trades. The informal entrepreneurs selected for this initiative will therefore receive financing and personalized support, tailored to their needs and their challenges, comprising four components:
- Technical training of project initiators in professional training centres partnered with Schneider Electric;
- Help in preparing a business plan and financing arrangements for the project through the Initiative France platforms;
- Allocation of unsecured loans;
- Monitoring of repayments and post-creation support through the Initiatives platforms.
1Informal sector, informal entrepreneurs, informal jobs: these jobs are characterised by their lack of protection in the event of non-payment
of salaries, forced overtime, dismissals without notice or compensation, unsafe working conditions and the lack of social benefits such as
retirement, sick leave and health insurance. Source: International Labour Organisation
ii Unsecured loan: loan to the individual, at a zero interest rate without guarantee, repayable over a term of 2 to 5 years