Africa Day, celebrated on 25 May, marks the foundation of the African Union and reminds us of the continent’s immense potential. As we celebrate this milestone, it’s the perfect moment to highlight the backbone of Africa’s economy: small and medium-sized enterprises (SMEs).
Why SMEs Matter
Across the continent, SMEs account for more than 80% of employment and contribute significantly to GDP. From tech startups in Nairobi to agri-businesses in Limpopo, these enterprises are fueling innovation, job creation, and economic resilience.
Opportunities Through the AfCFTA
The African Continental Free Trade Area (AfCFTA) presents a transformative opportunity for African SMEs. It aims to eliminate tariffs on most goods, simplify customs, and facilitate trade across 54 countries.
For South African SMEs, this means:
- Access to a larger, integrated market
- Potential to scale operations and exports
- More collaboration across borders
Challenges That Need Attention
However, challenges remain. These include limited access to finance, infrastructure gaps, and compliance with regulatory standards across markets. SMEs must also build capacity to handle logistics, language barriers, and tax complexities.
Primorial’s Role in Scaling African Businesses
We help SMEs position themselves for cross-border growth by:
- Streamlining their financial and tax structures
- Offering strategic advice on scaling
- Supporting compliance for multi-country operations
On this Africa Day, we celebrate the ambition, resilience, and creativity of small business owners who are shaping the continent’s future. Let’s keep building a borderless, thriving Africa.
Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.
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