At the heart of Africa’s economic fabric. African MSMEs play a key role in job creation and economic growth.
MSMEs: pillars of professional integration. African MSMEs are essential for ensuring sustainable growth and providing employment for the 450 million young people who will enter the labor force over the next 30 years.
African start-ups: a booming ecosystem. There are a growing number of African start-ups in all sectors, with impressive amounts of funds raised. According to Partech International, in 2019, before the health crisis, over USD 2bn had been raised, in particular in Nigeria, Kenya, Egypt and South Africa. Financial inclusion and education are among the most dynamic sectors.
Access to financing: the weak link in entrepreneurial success. According to estimates by the International Finance Corporation (IFC), small and medium-sized enterprises in Sub-Saharan Africa face a financing shortfall of some USD 330bn a year. According to a study conducted by Investisseurs & Partenaires, some 40% of African MSMEs say that accessing finance is a “major constraint to their growth”.
The size of African companies: the main factor for access to bank credit.
Obstacle course for women entrepreneurs According to International Finance Corporation (IFC) data, SMEs run by women in Sub-Saharan Africa suffer from a financing shortfall of USD 42bn.