Policy Catalogue on MSME Financing in Africa
Micro, small and medium enterprises (MSMEs) have been cited as one of the strongest drivers of economic development, job creation and innovation. Yet one of the biggest constraints stifling MSMEs growth, particularly in Africa, is the difficulty associated with accessing finance. As evidenced by the 243 MSME policies reviewed in this study, African governments have clearly acknowledged this challenge and are implementing policies aimed at supporting MSMEs’ access to finance and, by extension, growth.
This policy catalogue provides an overview of existing African policies that are aimed at improving MSMEs' access to finance. In light of the effects of the COVID-19 pandemic on MSMEs, fit-for-purpose policies to enhance financing options are crucial for governments to consider. The main aim of the report is to highlight the current landscape of MSMEs financing policies in Africa. The report provides recommendations and best-practice examples and looks at the current practices regarding the design and implementation of MSMEs financing policies in Africa.