UNDP Powers Inclusive Economies through Trade, Elevates Women and Youth Participation under AfCFTA at the 3rd Annual MSME Forum 2024.
November 13, 2024
From September 9th to 13th, 2024, Namibia proudly hosted the 3rd Annual African Union Micro, Small, and Medium Enterprises (AU MSME) Forum in Windhoek, under the theme, "Fostering Financial Empowerment and Educational Innovation for African Startups and MSMEs." This landmark event brought together over 300 entrepreneurs, policymakers, investors, and thought leaders from 54 African countries and marked a significant step forward in advancing Africa’s MSME sector.
The forum served as a vital platform for addressing key challenges facing MSMEs, including access to finance, market opportunities, and capacity-building. With a focus on fostering sustainable inclusive growth and development, participants explored solutions to the pressing financial and structural barriers that limit the growth of MSMEs.
The 20th Ordinary Session of the African Union Conference of Ministers of Industry (CAMI 20) urged member states to create a supportive environment for MSMEs. In response, the AU MSME Development Strategy & Action Plan was launched, aiming to foster sustainable economies, encourage entrepreneurship, industrial development, and enhance regional trade. The AU MSME Forum, which began in Cairo in 2022 and followed in Addis Ababa in 2023, serves as a key platform for knowledge-sharing and collaboration across Africa.
UNDP's Commitment to MSME Empowerment
The United Nations Development Programme (UNDP), in collaboration with the Namibian government, played a pivotal role in supporting the forum. Our support to the forum was both technical and financial (to the tune of N$400,000) and active involvement in various high-level discussions. UNDP’s engagement focused on fostering financial empowerment and leveraging innovation to drive inclusive growth across the continent’s entrepreneurial ecosystem. The five-day event featured a range of interactive sessions, workshops, and networking opportunities aimed at equipping MSMEs with the tools necessary for growth.
This year, UNDP Namibia sponsored 10 local MSMEs, to participate in the 3rd Annual African Union Micro, Small, and Medium Enterprises (AU MSME) Forum, held in Windhoek under the theme "Fostering Financial Empowerment and Educational Innovation for African Startups and MSMEs." Among the participants were MYM Trading, Modern World, Scents of Namibia, Napetry Trading Enterprises, Hacienda Gardening Project, and more. Additionally, we enabled the hosting and participation of 30 MSMEs from Botswana, Ghana and Nigeria, highlighting UNDP’s ongoing commitment to support the implementation of the Africa Continental Free Trade Area (AfCFTA), promoting women and youth participation, and contributing to a more inclusive and resilient economy in Namibia.
Among the highlights were:
Panel discussions "How MSMEs Can Benefit from the African Continental Free Trade Area (AfCFTA)", and "Derisking SME Finance - Leveraging Education and Innovation" through virtual incubation and acceleration programs.
Cultivated African trade policy dialogues.
The forum also provided a unique opportunity to host high-level dignitaries:
Dr. Amany Asfour, President of the Africa Business Council, and Amb. Aminou Akadiri, Executive Director of FEWACCI, were hosted by UNDP at the United Nations House in Namibia. In a discussion led by UNDP Resident Representative Ms. Alka Bhatia, they explored ways to empower African SMEs by enhancing product readiness, export potential, and amplifying the representation of African businesses in global industries. These discussions are pivotal to promoting inclusive trade, uplifting women, and youth entrepreneurs, and supporting the goals of the AfCFTA.
Networking and Collaboration Opportunities
Several key events allowed for dynamic exchanges between entrepreneurs, policymakers, and business leaders:
UNDP Meet and Greet: UNDP Namibia hosted an inspiring gathering at the UN House in Windhoek, with presentations from enterprises across Ghana, Namibia, Botswana, and Nigeria. The event provided a platform for MSMEs to showcase their business models and explore growth opportunities, with discussions centered on the #HerAfCFTA initiative. This initiative aims to unlock market access for women-owned businesses through collaborative partnerships across Africa.
B2B Learning Exchange: This networking event hosted over 40 MSMEs from across the continent and aimed to catalyse intra-continental business solution development. This networking event also enabled participants to explore opportunities within the Namibian market, with a focus on leveraging the AfCFTA to expand business operations across the continent.
Visit to Namib Mills: Participants had an opportunity to connect with established Namibian institutions such as Namib Mills (one of Southern Africa's largest producers of wheat flour, pasta, and animal feed) to leverage the open market and strengthen supply chains across the continent. The tour offered valuable insights into large-scale agricultural production and supply chain management, inspiring MSMEs on how to scale their operations.
Outcomes
The AU MSME Forum 2024 was a great success, and delivered several key outcomes aimed at strengthening Africa’s MSME ecosystem:
Improved Access to Financial Products: The forum mapped out financial products available to MSMEs at various growth stages and highlighted potential financiers across Africa.
Policy Recommendations: Practical recommendations were proposed to enhance the enabling environment for MSMEs, improving access to funding and addressing systemic challenges.
Showcasing Investment-Ready MSMEs: The forum spotlighted investment-ready MSMEs to key players in Africa’s entrepreneurial ecosystem, paving the way for future partnerships and growth.
Looking Ahead: The AU Cohort-Based MSME Program
A major milestone of the forum was the launch of the AU Cohort-Based MSME Program, a 12-month initiative designed to help MSMEs adapt to current economic conditions. The program will provide intensive training, mentorship, and networking opportunities, with a focus on sectors such as agriculture, manufacturing, and ICT. This initiative is expected to equip MSMEs with the knowledge and resources necessary to succeed in the rapidly changing African market.
The 3rd Annual AU MSME Forum underscored the pivotal role of MSMEs in driving Africa’s economic transformation, with UNDP Namibia at the forefront of promoting inclusive economies and trade, financial empowerment, and educational innovation. By fostering meaningful policy reforms and business growth, the forum empowered African startups and MSMEs to seize new opportunities and overcome challenges, particularly through the AfCFTA. With continued support from key stakeholders, MSMEs across the continent are well-positioned to contribute significantly to sustainable economic development and social progress.
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