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AU to review funding of SMEs

The African Union, AU is to review its funding mechanism for Small and Medium Enterprises, SMEs in the region and Nigeria to enhance their capacity to contribute more to the economic growth of the region.

The Regional Trade Adviser, Trade and Industry of the AU, Mr Jean Azapmo stated this in Abuja when he led a delegation to the Abuja Chambers of Commerce and Industry, ACCI.

Mr Azapmo who said the SMEs account for eighty per cent of Africa’s economy explained that SMEs deserved to be supported with adequate funding.

 The AU Regional Trade Adviser also called on the federal government to sign the Africa Continental Free Trade Agreement which according to him would bring enormous benefits to the nation.

Similarly, the President of ACCI, Professor Adetokunbo Kayode who stressed that the ACCI and the organised Private sector were in support of the Africa Continental Free Trade Agreement, assured the AU that Nigeria would eventually sign the agreement.

Professor Kayode added that the ACCI remain committed to the growth of SMEs in the country and Africa at large.

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