By Jane Salihu
The ECOWAS Parliament has called for coordinated policy reforms across West Africa to dismantle barriers limiting the growth of Micro, Small and Medium Enterprises, describing the sector as critical to job creation, regional trade and sustainable economic prosperity.
The call was made on Monday at the opening of a five-day delocalised meeting of the Joint Committees on Industry and Private Sector; Macroeconomic Policy and Economic Research; Administration, Finance and Budget; and Public Accounts in Cotonou, Benin Republic.
Speaking at the opening ceremony, Co-Chairman of the Joint Committee, Alhagie Darbo, said though MSMEs account for the bulk of economic activities in the sub-region, many businesses remain trapped in the informal sector, a situation that prevents them from accessing finance, technology, wider markets and legal protection.
Darbo, a Gambian lawmaker, noted that the informal sector accounts for nearly 90 per cent of economic activities and employs at least 60 per cent of the labour force in ECOWAS member states, a development he said underscores both the entrepreneurial resilience of the region and the urgent need for policies that encourage formalisation.
He said strengthening MSMEs is critical to achieving sustainable growth, reducing poverty and accelerating regional integration.
The lawmaker urged parliamentarians and other stakeholders to go beyond identifying challenges facing small businesses and develop practical recommendations that will improve access to finance, promote digital transformation, strengthen productive capacity and expand intra-regional trade.
He added that integrating MSMEs into regional value chains through the ECOWAS Trade Liberalisation Scheme and the African Continental Free Trade Area would enhance their competitiveness while advancing the objectives of the ECOWAS Vision 2050.
“Micro, Small and Medium Enterprises remain the backbone of our economies. They generate employment, stimulate innovation, empower women and youths, and facilitate cross-border trade. However, many continue to operate informally, limiting their growth and contribution to regional development,” Darbo said.
He expressed confidence that the meeting, which brought together lawmakers, policy experts, private sector operators and development partners, would produce actionable recommendations capable of transforming the business environment in the region.
Also speaking, the Speaker of the ECOWAS Parliament, Hadja Memounatou Ibrahima, said strengthening MSMEs goes beyond economic development and has implications for peace and security in the sub-region.
Ibrahima, who was represented by the Second Deputy Speaker, Adjaratou Traore Coulibaly, said empowering women and youth entrepreneurs through viable small businesses would help tackle unemployment and address socio-economic conditions that fuel insecurity.
She reaffirmed the parliament’s commitment to supporting policies that promote inclusive growth and enable businesses to expand beyond national borders.
The five-day meeting, with the theme, ‘Empowering MSMEs as Formal Drivers of ECOWAS Regional Value Chains’, is expected to produce recommendations to harmonise business policies, improve market access and strengthen the role of MSMEs in regional economic integration.
Participants expressed optimism that implementation of the resolutions would enhance the competitiveness of West African economies, deepen regional cooperation and position the sub-region to compete more effectively in the global market.
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