Small and medium enterprises account for 95% of all registered businesses and contribute about 50% to the total GDP of countries in sub-Saharan Africa.
Yet they face significant obstacles to growth and prosperity. These include, but are not limited to, the traditional barrier of acquiring finance.
Corruption is perhaps the biggest challenge. Its effects are worsened by the region’s generally weak governance and, in some cases, political instability. Small and medium businesses in these kinds of environments struggle to get the vital resources and expertise they need to operate efficiently and to grow.
