The Africa Forward Summit, co-hosted in Kenya by President William Ruto and French President Emmanuel Macron last month, highlighted a growing recognition among African leaders, investors, and institutions that Africa’s economic transformation will depend on whether Micro, Small, and Medium Enterprises (MSMEs) can scale sustainably.
Africa can no longer afford to remain a supplier of raw materials while importing finished products at a higher value. The continent’s industrial future will depend on building enterprises that are competitive, investment-ready, and capable of scaling across regional and global markets.
This is critical because the treatment of MSMEs in the country reveals a historical paradox. Despite being widely recognised for their significant economic contribution, MSMEs have long faced systemic challenges, including high taxation, regulatory hurdles, and limited access to affordable credit.
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