Financial Markets

Limited or no access to financial services can stifle business expansion, particularly in the case of SMEs. Facilitating the development of financial markets can strengthen the private sector, increase investor confidence, and bring important benefits to businesses of all sizes.

A Financial Sector Task Force was established in partnership with ICF investors to look at improvements required to remove obstacles which prohibit private sector access to financial markets.

The objective of the Task Force is to identify and advise ICF on ‘ready to implement’ projects that will remove barriers to access.

ICF partnered with the Thomson Reuters Foundation to launch a groundbreaking training programme for business journalism in Africa.

The programme focused on raising the standards of business, financial and investment journalism across the continent with the aim of ensuring that greater trust is put in the region’s media reporting. Training took place in six locations in Africa. High performing participants from the first round of training were then selected to pursue further training in Paris and London.

A review from the Columbia University's School of International and Public Affairs (SIPA) noted that there were improvements in participants' writing skills, as well as better sourcing and understanding of economic concept. The participants also benefited from increased confidence, heightened professional status, expanded networking and more practical experience. The training also benefited other journalists who did not attend but received shared skills and techniques from colleagues. In addition, 31% of the programme beneficiaries secured job promotions.

A second project will modernize the Mozambique Revenue Authority. Phase 1 aims at giving the Mozambique Revenue Authority a more customer oriented face through improved interaction with the taxpayer and taxpayer education.