ECOWAS Parliament Moves To Strengthen MSMEs As Engines Of Regional Growth
Small and Medium-sized Enterprises (MSMEs) remain the backbone of West Africa’s economy, yet many struggle to access finance, expand across borders and integrate into regional markets.
The ECOWAS Parliament is now seeking to change that through a high-level meeting focused on unlocking the sector’s full potential.
The Parliament of the Economic Community of West African States (ECOWAS) has begun a five-day delocalised meeting of its Joint Committee on Industry and Private Sector, Macroeconomic Policy and Economic Research, Administration, Finance and Budget, and Public Accounts in Cotonou, Republic of Benin.
Held under the theme, “Empowering MSMEs as Formal Drivers of ECOWAS Regional Value Chains,” the meeting brings together lawmakers, ministers, development experts and private sector stakeholders to develop practical strategies for strengthening MSMEs across the sub-region.
Discussions will focus on improving access to finance, digital innovation, regional payment systems, trade facilitation, product standards and the ECOWAS Trade Liberalisation Scheme (ETLS), while also addressing challenges facing women-led, youth-led and informal businesses.
The programme also includes field visits to MSMEs, a town hall with the business community and the adoption of recommendations expected to deepen regional integration and boost the competitiveness of West African enterprises.
Participants say the meeting comes at a crucial time as ECOWAS member states seek stronger regional value chains and more resilient economies in the face of evolving global economic challenges.
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