ADFIAP’s Institute of Development Finance (IDF) in cooperation with the Seoul-based AJU IB Investment Limited conducted the 9th study tour program on SME financing and development from April 4-8, 2011 in Seoul, Korea on the request of the Association of African DFIs (AADFI). Twenty five (25) participants from Botswana, Cote d’ Ivoire, Ghana, Nigeria, Kenya, Liberia, Rwanda, South Africa, Tanzania, and Uganda attended the event.
The objective of the study tour program is to enhance the participants’ knowledge and understanding of small and medium-scale enterprise (SME) financing and development with the particular experience of South Korea in SME financing, development, regulation and supervision. South Korea is one of the countries in East Asia whose government has invested substantial capital and human resources in the promotion and development of the SME sector.
The 5-day program has been structured to give a more relevant and practical approach to SME financing and development by incorporating different avenues of learning such as briefings, direct interaction with policymakers, institutional visits to conduits of SME funds, and project site visits, leading to a fuller understanding of the significant roles that financial institutions play in the development of the SME sector in their respective countries. The institutions that were visited include the Korea Credit Guarantee Fund (KODIT), Korea Finance Corporation (KoFC), Korea Development Bank (KDB), Korea Venture Capital Association, Korea Venture Investment Corporation, Samsung Electronics and Tera Semicon.
Dr. Kwang Sun Yang, Executive Director of AJU IB Investment welcomed the participants while Mr. Geoffrey Qhena, Chairman of AADFI gave the opening remarks. Mr. Sang Tae Kim, Deputy Director of Small and Medium Business Administration (SMBA) of Korea gave the keynote address on the “Overview of the SME Sector in Korea”. ADFIAP was represented in the program by Ms. Sandra Honrado, ADFIAP Senior Executive for Programs.