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Press Release

Friday, November 20, 2009

OPIC Selects Ignite Corporate Financial Solutions as Originator in Enterprise Development Network

Ignite Tel: +27 11 646 0951/2/3; jarredm@ignitecfs.co.za; jasons@ignitecfs.co.za

WASHINGTON, D.C. –The Overseas Private Investment Corporation (OPIC) has selected Ignite Corporate Financial Solutions (Ignite), a boutique financial consultancy in Johannesburg, South Africa, specializing in small and medium-sized enterprises (SMEs) in the sub-Saharan region, to serve as an originator for a growing alliance with the private sector designed to support SMEs expanding into emerging markets overseas. 

The alliance, the Enterprise Development Network (EDN), is expanding the ability of OPIC – the U.S. government agency charged with facilitating U.S. private sector investment in emerging markets – to provide financing to SMEs doing business in developing countries.

Through the support of financial institutions, business consultants, associations, law firms and regional investment promotion agencies, EDN is designed to enhance SME access to OPIC products and services. By empowering such service providers, the network is resulting in more efficient, cost-effective delivery of services to American businesses.

Ignite is based in Johannesburg, South Africa. Ignite has specialist divisions in accounting, tax and advisory services and has been active in many sectors of the SME arena since 2004. Visit Ignite on the web at www.ignitecfs.co.za.
 


OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

 

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 39-year history, OPIC has supported $194 billion worth of investments that have helped developing countries to generate over 842,000 host-country jobs. OPIC projects have also generated $73 billion in U.S. exports and supported more than 274,000 American jobs.