Nigeria to Host 4th African Union MSME Forum: A Boost for Africa’s Economic Transformation
By Usman A Harande
In a bid to empower Micro, Small, and Medium Enterprises (MSMEs) across Africa, Vice President Kashim Shettima has announced that Nigeria will host the 4th African Union (AU) MSME Forum in Abuja from June 23 to 27. The event aims to provide a platform for exchanging knowledge, ideas, and collaborations on MSME development, digital innovation, market access, and affordable financing.
With over 83% of Africa’s employment lying in the informal economy, the continent’s MSMEs are poised to become the heartbeat of economic renewal. VP Shettima emphasized that Nigeria’s administration has taken bold steps to construct digital highways and bridges to carry MSMEs across borders into the heart of the African market.
Some notable initiatives and reforms highlighted by VP Shettima include:
- AfCFTA Negotiating Forum: Nigeria chaired and spearheaded the forum, aligning its investment, digital trade, and competition policies with the agreement.
- Technology Export and Digital Trade Desk: Established to support Nigerian entrepreneurs in exporting services and digital goods across Africa.
- i-DICE Programme: A $617.7 million investment in digital and creative enterprises.
- 3 Million Tech Talent Programme: Aims to train Nigerian youths in coding, data science, and digital fluency.
The 4th AU MSME Forum will provide a veritable platform for stakeholders to discuss and shape the future of African MSMEs. With the theme “Building Resilient MSMEs through Digital Innovation, Market Access, and Affordable Financing for Africa,” the event aligns with the Tinubu administration’s efforts to support development and growth in the sector.
Several states, including Lagos, Benue, Imo, Enugu, Katsina, and Ekiti, are involved in the sub-committees of the project. Lagos State, in particular, has taken steps to ease access to funds for MSMEs through a N10 billion fund, the Lagos State – Bank of Industry MSME Access to Finance Scheme (LASMECO).
The organizing committee, comprising key stakeholders from government agencies, financial institutions, and industry associations, has pledged their commitment and support for the hosting of the meeting. The event is expected to positively impact local MSMEs and the overall national economy.
With Nigeria’s hosting of the 4th AU MSME Forum, the country is poised to lead in shaping Africa’s digital trade future and empowering MSMEs to become the driving force behind the continent’s economic transformation.
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