AU Commission in Nairobi to validate SME strategy

AU Commission in Nairobi to validate SME strategy

The African Union Commission (AUC) began today the process of validating the Small Medium Enterprise (SME) Strategy and Master Plan 2017-2021 during a two-day workshop in Nairobi, Kenya.

The objective of the initiative is to develop an African Union strategic framework which will support the implementation of the Accelerated Industrial Development of Africa (AIDA) and Africa’s sustainable economic transformation under Agenda 2063. The workshop was attended by the Senior Industry Officers from the Regional Economic Communities (RECs), the Private Sector and Development Partners. AUC and UNECA officials co-chaired the working sessions.

AU Commission in Nairobi to validate SME strategy

AU Commission in Nairobi to validate SME strategy

The SME Strategy and Master Plan 2017-2021 aims, among others, at improving the continental business environment, increasing business formation, supporting formalization of growth-oriented informal enterprises and startups, increasing SME/Is, MSMEs and entrepreneurs’ participation in regional and global value chains and promoting innovative financing.

The SME Strategy and Master Plan 2017-2021 aims, among others, at improving the continental business environment, increasing business formation, supporting formalization of growth-oriented informal enterprises and startups, increasing SME/Is, MSMEs and entrepreneurs’ participation in regional and global value chains and promoting innovative financing.

Mrs. Treasure Thembisile Maphanga, Director of the Department of Trade and Industry (DTI) of the African Union Commission, commended participants for their continuous commitment in supporting the Department of Trade and Industry to contribute to the sustainable structural transformation of the continent through Industrialization. She praised RECs and Experts from various institutions including the European Union, JICA, Traidlinks, UNCTAD, UNECA and Canadian Government who worked closely with the Commission during the last few months by providing comments and inputs in order to enrich the draft SME Strategy and Master Plan.

The Director pointed out that Industrialization has recently become a high priority for more countries and more cooperating partners. She echoed the tragedy that migrants are going through while trying to join Europe and the high rate of youth’s unemployment. According to her, the continent’s industrialization appears to be the winning strategy that will accelerate job creation and poverty alleviation for the coming years in addition to support the continent’s sustainable structural transformation.

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