More Africa nations should consider creating small business ministries, so that SME support is not subsumed under broader ministries like trade or industry.
There are only three countries (Liberia, Republic of Congo, and South Africa) with standalone SME ministries.
FEEEDS has advocated since 2011 for Africa SMEs' key role in nation building; for separate ministries since 2015 with numerous Africa leaders; and in the book Rise of Africa SMEs (pp.160-166).
Below are an additional ten recommendations added to FEEEDS' "Africa SSP" as a result of COVID-19:
FEEEDS - COVID Africa SME Strategic Plan
Africa initiatives raising monies strictly for COVID's impact on SMEs.
Multilateral institutions providing COVID facilities for SMEs through country governments, which could include:
credit, debt, bank loan extensions
tax and royalty deferrals, or holidays
un-banked SMEs to banked using mobile tools (Nigeria has 60 million unbanked)
business rent/lease extensions
special 2-3 year interest rates
fee waivers (ATMs mobile transfers)
increase daily cash transfers limits
increase grants, training
Some countries (Ghana, Kenya, Rwanda, Senegal, South Africa) have stepped up in some areas, but overall attention to SMEs remain sporadic and piecemeal, instead of continental, strategic and transformative – key elements needed to help Africa climb out of recession, and return to previous levels of positive economic growth.
