Launch of the 12th International Financial Summit on April 25

Launch of the 12th International Financial Summit on April 25 in Port-au-Prince

The 12th International Finance Summit, an initiative of Groupe Croissance, kicked off this Monday at the Mariott Hotel on “Financing Micro, Small and Medium Enterprises in Haiti”. This summit, held, in particular, in partnership with the Central Bank, will last for three days, from 25 to 27 April 2022.

The opening of the first day was marked by speeches by Groupe Croissance CEO Kesner Farrell and Bank of the Republic of Haiti (BRH) Governor Jean Baden Dubois.

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In his speech on this occasion, Mr. Dubois praised the efforts of Groupe Croissance to implement this summit. According to Mr. Dubois, the institution headed by economist Kesner Farrell has surpassed itself this year. “Holding such an event for 12 years in a row, despite the difficult economic conditions and constraints associated with COVID-19, is an achievement,” he said.

Jean Baden Dubois also stressed that “support for IHR in rebuilding Haiti must be inclusive, sustainable and sustainable.” “Haiti’s prosperity certainly depends on creating an ecosystem conducive to IHR. The government cannot create jobs. Companies need to create jobs, “he said.

And the creation of jobs, he continued, necessarily involves IHR. Hence the importance of this summit, he said. “We must accompany, encourage and support all those who are interested in entrepreneurship in order to become prosperous, create jobs and rebuild this country,” said Mr Dubois.

According to the governor, financing small and medium-sized businesses is also an important condition for Haiti. According to him, this will strengthen the country’s resilience to external shocks. It will also “create sustainable jobs in a stable environment and reduce poverty by 50% in 10 years”.

According to Jean Baden Dubois, it is on the basis of this hypothesis and this goal that BRH has been trying for several years to contribute to strengthening the sector through a number of targeted initiatives. As an example, the Governor cited incentive programs for manufacturing sectors such as hospitality, real estate, free zones and exports. “As of March 31, 2022, payments for these programs amounted to more than 16.4 billion gourds,” he said.

Youth and women are two important pillars for the development of IHR

Jean Baden Dubois noted that youth and women are two categories of the population that will play a key role in any approach to the development of the IHR sector in Haiti through wider funding.

“As for young people, this category shows great enthusiasm for entrepreneurship,” he said. Last December, more than 1,000 developers took part in the latest issue of DevExpo. BRH also received more than 1,700 business concepts in this category during its 2020 business concept competition.

According to Mr Dubois, women, for their part, are a category that needs to be fully integrated into any process of revitalizing the IHR sector in Haiti.

“They tend to be safe partners in business and play a key role in the functioning of the informal commercial sector, which accounts for about 35% of gross domestic product (GDP),” he said. In addition, the available data show that women are among the best debtors in the financial system.

Emphasizing the importance of supporting the development of small and medium-sized businesses, the CEO of Groupe Croissance, for his part, said that this sector is an important source of jobs. In low-income countries, such as Haiti, they account for about 65% of jobs.

However, in Haiti, the sector faces four major constraints. According to the economist, this is the business environment, weak opportunities for companies, difficulties in accessing markets and difficulties in accessing finance.

It should be recalled that on the first day of the summit, speakers discussed the impact of vulnerability on SMEs, the digital transformation of SMEs, the impact of supporting SME development, the challenges and constraints of rural SMEs, among others.

Launch of the 12th International Financial Summit on April 25