About our Work in Côte d’Ivoire
‘Stimuler l’Esprit d’Entrepreneuriat en Côte d’Ivoire’ (SEEC), a partnership between Kosmos Energy and the Direction Générale des Hydrocarbures, delivered by TechnoServe, aimed to help young Ivoirian entrepreneurs and SMEs develop their businesses sustainably and, in doing so, unlock economic prosperity in the country’s coastal regions.
Through a targeted and comprehensive accelerator program – with a particular emphasis on recruiting female business owners – young entrepreneurs learned how to overcome barriers to growth and how to build competitive businesses that generate wealth for fellow Ivoirians through improved sales and new job creation. Three hundred entrepreneurs along southern coastal communities were selected to take part in the program, with 43% of these being women. Over the course of four months they received intensive business and managerial support training, financial consultancy and one-to-one mentorship.
After the four-month period, all 300 entrepreneurs presented their work to a jury, and 180 were selected to receive five months of ‘aftercare’ to help implement their business growth plan. Further training and mentoring were provided in the aftercare phase, as well as support to access financial institutions and funding.
Businesses that participated in SEEC aftercare saw a significant positive increase in business performance. For example, on average, entrepreneurs had a 35% increase in sales during the aftercare period – increasing to 45% sales growth for women-led businesses.
Additionally, there was an average 26% increase in full time employees at the companies, creating a source of employment for their communities.
TechnoServe is an international nonprofit that promotes business solutions to poverty in the developing world by linking people to information, capital and markets are supporting Kosmos to deliver its first business leadership program in the country.