Praia: West African Micro, Small and Medium Entrepreneurs (MSMEs) under the aegis of ECOWAS Small Business Coalition (ESBC) have pledged to boost their businesses and achieve ECOWAS economic growth goals through collaboration. ESBC Presidents from member states, alongside other stakeholders and participants, made this known in separate interviews with the News Agency of Nigeria (NAN) on the sidelines of the group’s meeting in Praia, Cape Verde.
According to News Agency of Nigeria, the collaboration is seen as critical to achieving the desired success of turning MSMEs into the true drivers of economic development in the West African subregion. Dr Abdulrashid Yerima, ESBC President and President of MSMEs in Nigeria, described the event as a success as they deliberated and charted the way forward through collaboration to find solutions to their common challenges.
He stated that members agreed to strengthen their collaborations to ensure that cross-border trade is well structured, address exchange rate and payment issues, and tackle customs and immigration challenges at the borders. He emphasized the importance of addressing challenges related to access to finance, markets, affordable energy, transportation, capacity building, data, and training.
Mrs Loide Monteiro, ESBC Vice President and President of MSMEs in Cape Verde and Lusophone countries, highlighted that the event allowed member states to share ideas and explore what Cape Verde can gain from them. She expressed optimism for a new era of commercial transactions between Cape Verde and ECOWAS.
Dr Elias Farrakhan, ESBC President, Ivory Coast, noted that the event strengthened the relationship among ESBC members in the subregion, emphasizing the importance of MSMEs in African economies. James Trotter, ESBC President in Liberia, expressed optimism about the future of West African MSMEs, calling for stakeholder collaboration to solve common problems and achieve collective success.
Mahamadou Kinta, ESBC President, Mali, underscored the significance of unity among West African countries’ MSMEs to advance the region. Saeed Mooman, President of ESBC, Ghana, urged ECOWAS to continue supporting the coalition financially and strategically.
Koku Aboki, ESBC President, Togo, mentioned that ESBC had achieved its basic operational plan of coalition building among MSMEs. Vande Lansana, ESBC President, Sierra Leone, emphasized the importance of implementing texts that support MSMEs in line with ECOWAS economic growth and integration.
Nneogo Egboh, ESBC’s Executive Director, expressed excitement over the investment opportunities offered by member state governments, particularly in Cape Verde. She highlighted the potential for collaboration and partnership in trade, access to markets, finance, and investment opportunities.
Charles Odii, Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), called on ECOWAS member states to take responsibility for the implementation of the ESBC’s programmes. He stressed the importance of mutual collaboration and leveraging the African Continental Free Trade Area (AfCFTA) and the ECOWAS Trade Liberalization Scheme (ETLS) for success. Odii emphasized that individual member states must ensure the implementation of the necessary articles and laws for MSME growth.