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'Funding Challenges Undermine SMEs' Growth in Africa'


Emma Okonji
Analysts who spoke at a recent webinar organised by the American Business Council in Nigeria, in collaboration with US Chamber of Commerce, Amcham Ghana and Amcham South Africa on the US-Africa relations, have identified lack of adequate funding as a major challenge to the growth of Small and Medium Enterprises (SMEs) in Africa.
The analysts were of the view that SMEs across Africa are faced with serious funding challenges, despite their importance to national development.
Citing the case of Nigeria, the analysts said: “Despite the significant contribution of SMEs to the Nigerian economy, challenges still persist that hinder the growth and development of the sector. In Nigeria, SMEs contribute 48 per cent of national GDP, and account for 96 per cent of businesses and 84 per cent of employment.” ....

United States , Emma Okonji , Mary Beth Leonard , Ravi Suchak , Akunna Cook , Dipo Faulkner , Us Administration , Central Bank , Medium Enterprises Msmes , National Bureau Of Statistics , African Affairs , United Nations Industrial Development Organisation , Us Chamber , American Tower Corporation , Public Affairs , Medium Enterprise Development Agency , American Business Council , Medium Enterprises Smes In Africa , Amcham Ghana , Amcham South Africa , Medium Enterprises , Organised Private Sector , Deputy Assistant Secretary , United Stares , National Bureau , Nations Industrial Development Organisation ,

'Funding Challenges Undermine SMEs' Growth in Africa' – Ghana Visions


Emma Okonji
Analysts who spoke at a recent webinar organised by the American Business Council in Nigeria, in collaboration with US Chamber of Commerce, Amcham Ghana and Amcham South Africa on the US-Africa relations, have identified lack of adequate funding as a major challenge to the growth of Small and Medium Enterprises (SMEs) in Africa.
The analysts were of the view that SMEs across Africa are faced with serious funding challenges, despite their importance to national development.
Citing the case of Nigeria, the analysts said: “Despite the significant contribution of SMEs to the Nigerian economy, challenges still persist that hinder the growth and development of the sector. In Nigeria, SMEs contribute 48 per cent of national GDP, and account for 96 per cent of businesses and 84 per cent of employment.” ....

United States , Emma Okonji , Mary Beth Leonard , Ravi Suchak , Akunna Cook , Dipo Faulkner , Us Administration , Central Bank , Medium Enterprises Msmes , National Bureau Of Statistics , African Affairs , United Nations Industrial Development Organisation , Us Chamber , American Tower Corporation , Public Affairs , Medium Enterprise Development Agency , American Business Council , Medium Enterprises Smes In Africa , Amcham Ghana , Amcham South Africa , Medium Enterprises , Organised Private Sector , Deputy Assistant Secretary , United Stares , National Bureau , Nations Industrial Development Organisation ,