Sierra Leone Opportunities for Business Action (SOBA) is a DFID-funded market systems development initiative which is implemented by Adam Smith International (ASI) and has provided on-going technical support and targeted financial investment towards a market systems change in Sierra Leone since 2013.
Since its inception, SOBA has collaborated with a breadth of private sector partners within agriculture, light manufacturing, sustainable energy and financial service sectors to trial and to scale innovative and inclusive business practices that improve economic opportunities and outcomes for poor women and men.
To date, SOBA has achieved significant progress towards meeting and exceeding its targets. The programme has also demonstrated the value of a market systems development approach to driving pro-poor economic growth within Sierra Leone. This approach has also been tested and has met the challenges which emerged within the context of the Ebola outbreak and associated economic challenges. In September, SOBA was awarded an A+ Annual Review scored by DFID.
SOBA uses a making markets work for the poor M4P approach. This means we base all of our activities on deep knowledge of how individual markets operate and the issues that currently restrict their growth and the wealth they generate for poor participants.
In gathering this knowledge, we consult with a broad range of market actors (the private sector, government, academia, civil society organisations, to name a few). We've found that the best solutions are identified by working in partnership with those most affected by the poor performing markets.
Together with partners and other stakeholders we then design activities to address the most critical failures; making the market work better. We support partners who serve various functions within markets, from agricultural input dealers to small-scale manufacturers, from large industry to household entrepreneurs.
Implementation is primarily led by our partners on the ground and therefore growth with continue beyond SOBA's involvement. Typical activities include improving business models, increasing access to finance or working capital, and creating supply and demand market linkages. Overall, we build the capacity of partners so they can continue to be positive catalysts for growth in their markets.
SOBA support takes a variety of forms and can include providing local and international experts to advise and help implement change or acting as a conduit to link up businesses and market actors and broker mutually beneficial relationships.
Overall, they work with the private sector to grow the private sector. By investing in their partners, they aim to develop pivotal companies who can open up markets and improve the position of other market actors. Catalysing growth through these companies can further allow hundreds of entrepreneurs to start new, more profitable businesses. More profit means more income. With this income people can better provide for their families. Increased production also allows for increased consumption of food and fuels, and a healthier, more productive population. Increased tax revenue enables the state to invest more into infrastructure and education, reducing constraints to private sector growth. In sum: a virtuous circle.
