Why debt financing is important for the African business

Small and medium-sized enterprises (SMEs) are the heart of Africa’s economies. According to the World Economic Forum, as engines of growth, SMEs are responsible for around 80 percent of the continent’s employment, ultimately helping to cut poverty and income inequality, enabling the establishment of a new middle class and driving demand for new goods and services.

That’s why creating an enabling environment for small firms to access finance will enhance their ability to not only contribute to Africa’s labour force, but also facilitate the continent’s development and economic growth while driving innovation needed to help solve the socio-economic issues it continues to grapple with.