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The Role of SMEs as the Engine of Economic Growth in Africa

  Nov 8, 2019
 

 
Small and Medium Enterprises (SMEs) contribute greatly to the economic growth of developing countries. Their share in employment and wealth creation tends to be higher than from large enterprises. As such, policy provisions remain fundamental in propelling these enterprises towards self-sustenance and realization of their full potential in contributing to economic growth.

In Kenya for instance, SMEs operation cut across almost all sectors of the economy and sustain the majority of households. Their activities form a breeding ground for businesses to thrive and provide one of the most prolific sources of employment. As such, debates and policy provisions geared towards boosting their operations are not only good for the sector but the country’s economy as well. Experience over the years has also shown that in addition to policy provisions, SMEs need training, support services, networking, and business opportunities to help them develop and implement their growth plans.
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