Wyly Wade

The AfDB SME Program Approval – Boosting Inclusive Growth in Africa

Logo of the African Development Bank (AfDB), p...

The SME sector is critical to Africa‘s growth, contributing to 45% of employment and 33% of GDP, SMEs continue having issues to reliable and consistent capital for growth. Studies indicate that more than 70% of SMEs lack access to medium/longer term financing creating a funding gat of $140 billion US. This study nor the AfDB‘s new program does nothing to help alleviate the needed for equity capital nor helps with better policy to support the movement of capital in and out of the country.

The African Development Bank (AfDB) approved the Africa Small and Medium Enterprises (SME) Program, a four-year, US $125-million funding program combined with a US $3.98-million technical assistance package granted by the Fund for African Private Sector Assistance (FAPA), aiming at supporting micro, small and medium enterprises (MSMEs) in Africa.

allAfrica.com: The AfDB SME Program Approval – Boosting Inclusive Growth in Africa.

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