Private Sector Development (PSD) 

It is now more evident than ever before that sustainable development can only take place within the context of a robust private sector equipped to drive growth. A healthy private sector and business enabling environment helps attract investors, create employment, generate wealth and ultimately reduce poverty.

 

As such, development aid is increasingly being channelled through initiatives that engage the private sector – challenge funds, impact investment, financial sector deepening and investment climate reform. In Africa the focus is on addressing hurdles of inaccessible finance, non-inclusive market systems and red tape, usually through the ‘making markets work for the poor’ (M4P) approach and other strategies to ensure pro-poor growth.

 

Our Work

 

KPMG and PSD

 

KPMG has extensive PSD experience throughout Africa, providing advice to governments and the private sector. For the private sector, we have leveraged our understanding of local regulations and tax laws to give advice on how to comply with these while still running a profitable business. To governments, we have provided advice in areas such as investment climate reform, financial sector regulation, regional integration and policies and strategies for development.

 

As thought leaders in PSD, KPMG and its staff have provided several services, notably:

  • Challenge fund design and management for donors and private investors
  • M4P initiatives
  • Financial and market systems improvements
  • Custodian services for special purpose vehicles (SPVs) that promote PSD and regional integration In most of these services KPMG IDAS assembles a mix of senior technical professionals in PSD and “core” KPMG staff, in a powerful combination of skills whose main aim is to deliver impact.

 

Our team

 

Corin Mitchell

Director, Southern Africa
 

Corin brings over 15 years experience in development in sub-Saharan Africa. He has worked in promoting growth and private sector development, from investment climate reform to investor supply chain strategies and SME development. Corin has pioneered SME peer-to-peer training and networks, and been involved in designing, developing, and implementing ‘Making Markets Work for the Poor’ (M4P) approaches across Africa.

 

Corin holds an MSc in Development Finance from the University of Stellenbosch and a BSc Hons in Economics from the London School of Economics.
 

George Manu

Director, West Africa
  George has worked in the private sector, academia and the UN and brings experience with development work in 45 countries over four continents. He brings particular experience developing SMEs in Africa: from 1999-2004, he was CEO of EMPRETEC Ghana Foundation, which provides business development services and finance to growth oriented SMEs. For the six years previous to that, he was head of SME Development at the International Training Centre of the International Labour Organisation, based in Turin, Italy.

George holds a Master’s and Ph.D. in Business Administration from Durham University, UK, and has also been on the faculty of the Universities of Durham and Stirling.

Jenny Lofbom


Senior manager, East Africa
 

Jenny is a trained economist and has been working in trade and market development for 10 years. She brings in-depth knowledge of Sida and Swedish development policy, as well as sector-specific policy in market development. Jenny has extensive knowledge of EU structures and development cooperation in addition to trade-policy. Jenny has worked with donors, government agencies and private sector representatives across Africa, Asia and Latin America.

 

Jenny holds a Master’s degree in International Economics from the Stockholm School of Economics (Handelshögskolan i Stockholm, Civilekonom inrikning Internationell Ekonomi).

Impact

Impact
Biolands International: In Sierra Leone, this ambitious project funded by the IDAS-managed Africa Enterprise Challenge Fund is transforming the cocoa market by improving the quality and quantity of cocoa produced by smallholder farmers. Farmers are now able to market the improved cocoa at higher prices, raising the profile of the entire national cocoa industry. As of 2011/12, the project had contracted over 30,000 farmers...Read more

Innovation

Innovation
Financial Sector Deepening Kenya


FSD Kenya is a highly innovative programme that has been recognized for its ability to adapt quickly to the changing market. FSDK has achieved substantial impact with a relatively small budget through various partner-driven projects. As trustee, KPMG has been credited with providing the sound financial and risk management oversight that assures donors their money is safe and well-spent, thus creating space for cutting edge development work.

Insight

Challenge funds as private sector development tools: progress and potential

In recent years, challenge funds have emerged as an innovative way to engage the private sector to promote pro-poor economic growth and community development.


 

Financial Deepening and M4P: Lessons from Kenya and Rwanda

This paper looks at the M4P approach to financial inclusion, with evidence from Kenya and Rwanda.


 

In Shaping the Power of Markets for the Poor, we consider the anticipated impact of one market-shaping, pro-poor initiative set up by KPMG Africa Development Advisory Services, The Africa Enterprise Challenge Fund (AECF).