Africa SME Assembly to Launch Africa SME Council, SME Capital

The Africa SME Assembly is preparing to launch the Africa SME Council and Africa SME Capital to enhance Foreign Direct Investment in the African SME Sector.

Scheduled to take place from Friday, March 29 to Saturday, March 30 at the University of Lagos (UNILAG), Akoka, Lagos, this event aims to bolster SMEs by offering financial support and creating a conducive environment for entrepreneurial development and prosperity. Additionally, it will tap into the Continent’s Diaspora Network for further support.

Under the theme “Unlocking Growth Opportunities for SMEs,” the assembly seeks to highlight pathways for SMEs to access and capitalise on various opportunities such as funding, grants, favorable policies, networking platforms, digital business infrastructures, and more.

The Africa SME Assembly is dedicated to addressing key challenges faced by Small and Medium Enterprises (SMEs) in Africa.

These challenges include restrictive policies, limited utilisation of modern technology for business growth, poor cross-regional collaborations, funding constraints, and the absence of managerial expertise in various industries such as Manufacturing, Agriculture, Healthcare, Renewable Energy, Transportation, Logistics, and Information Technology.

Mr. Treasure Enyinnaya, the Convener of the Africa SME Assembly, emphasises the crucial role of SMEs in job creation, accounting for 80 per cent of employment opportunities in Africa.

He highlighted that empowering SMEs can significantly contribute to socio-economic growth, poverty reduction, inclusive economic development, and overall economic prosperity.

Co-convener Abaz Ibekwe recognises the importance of promoting entrepreneurship and facilitating access to support for SMEs.

Drawing inspiration from the European SME Assembly’s success in fostering entrepreneurship and supporting new business ventures, he underscores the significance of similar initiatives in Africa.

Monalisa Agbata, another Co-convener at the Africa SME Assembly, highlights the challenges faced by SMEs in Nigeria due to economic downturns exacerbated by factors like government policies affecting ease of doing business, multiple taxation, and insecurity. These issues have led to increased unemployment and a decline in GDP.

The Africa SME Assembly aims to bring together high-profile speakers from across the continent to share insights on the current status of the SME ecosystem in Africa.

Speakers such as the former Governor of Anambra State, Mr. Peter Obi; the Facilitator of Africa SME Assembly Executive Director/CEO, East Africa Business Council (EABC) (Rwanda), Mr. John Bosco Kalisa; 1st Occupier Professor, Dr Mike Adenuga (Jnr) Professorial Chair in Entrepreneurial Studies, Director Entrepreneurship and Skills Development Centre UNILAG, Prof. Sunday Adebisi.

They will provide valuable knowledge and experiences to stimulate discussions on fostering collaboration among SMEs and building an inclusive economy that drives economic growth.

Other speakers are the Government Affairs & Risk Management Executive, Sub-Saharan Francophone Africa, Mirabell Mayack; the DG, SMEDAN Lagos, Mr. Bunmi Kole-Dawodu; the Acting Director-General, Nigerian-American Chamber of Commerce, Wofai Samuel.

The Founder of Entourage Integrated Trust Ltd, Seyi Asagun; the COO of Clan Nigeria, Obafemi Darabidan; the Founder & President of Youthup Global & Utidia (Nigeria), Dr Faith Nwaobia; the President of Salesplat (Nigeria), Mr Victor Olatunde; the Founder of Savvy Fellowship, Chidi Nwaogu; and the Chief Evangelist of Scholarly, Emmanuel Nduka.

Highlights of the Assembly will include keynotes and panel discussions to investors liaison, networking, exhibition, trade fair, and awards.

Also inclusive of what the Assembly is doing, it aims to provide networking and bilateral trade opportunities for young Africans and women, knowledge sharing, and policy awareness and policy advocacy.