SMEs and Job Creation

Small and Medium-sized Enterprises (SMEs) play a crucial role in job creation and economic development in Africa. They are considered the backbone of many African economies due to their ability to generate employment opportunities and promote inclusive growth. SMEs are substantial job creators in Africa. They offer employment opportunities for a large segment of the population, particularly in sectors like agriculture, manufacturing, and services (African Development Bank, 2018). SMEs contribute significantly to GDP and employment. For example, in Sub-Saharan Africa, SMEs make up about 90% of all businesses (African Development Bank, 2018).