Unless SMEs in Africa can get improved access to finance, economic growth in Africa – which many believe will power the next phase of global economic growth - might just grind to a halt.
Across almost every measure of economic growth and development, Africa is on the up. And, better still, the economic transformation of Africa is being propelled by indigenous forces – particularly the committed body of small and medium-sized enterprises (SMEs) throughout the continent. In fact, there's a lot to suggest that continued growth in Africa depends on the continued growth of its SME sector. So far, so good - but there are some problems. If the SME sector in Africa is to progress further, it needs better access to energy, expertise and skilled labour. More than anything else, however, it needs money.