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General News of Thursday, 15 April 2010

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Approvals In Ghana Under EDN / ATA Initiative

The US Agency for International Development (USAID) and the Overseas Private Investment Corporation (OPIC) are utilizing EDN resources to distribute technical assistance to small and medium-sized enterprises (SMEs) in sub-Saharan Africa. The mission of this African Technical Assistance initiative, or EDN / ATA, is to spur the development of SMEs in sub-Saharan Africa and to provide these entrepreneurs with access to the capital and technical skills needed to enhance production and competitiveness. The desired outcome will yield true benefits through better educated SMEs, more creditworthy projects, and more efficient delivery of capital - leading to an increase in sustainable jobs in the region and a variety of additional social and economic improvements.

In 2010, JONJUA OVERSEAS (P) LTD., a Mohali, Punjab, India based EDN Loan Originator, submitted two proposals for projects based in Accra, Ghana, West Africa for EDN / ATA funding (www.ednaccess.com) which have been approved. They are:

• Dwetire Microfinance Limited, a Microfinance initiative to help the poorest of the poor in Greater Accra Region to lead a life of self respect and dignity.

• Green Solution Limited, a company offering innovative solar energy solutions in urban and rural areas of Ghana.

It is hoped that the success of these businesses in obtaining business development services under the EDN / ATA initiative will enthuse other small businesses in Africa to take advantage of this initiative. Jonjua Overseas (P) Ltd. was incorporated on February 16, 1993 and is managed by Harjinder S. Jonjua – Founder Managing Director. It is based in Mohali, Punjab, India and provides consulting in the raising of venture capital, equity and debt. It works with a client from start up to IPO and beyond. In the past 16 years, it has served clients worldwide, especially Africa. More information and contact details are available at www.jonjuaoverseas.webs.com.

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