An African Union (AU) Commissioner has stressed that the success of Africa’s single market hinges largely on the growth and sustainability of small and medium-sized enterprises (SMEs), describing them as the backbone of the continent’s economic transformation.
Speaking at a high-level forum on trade and industrial development, the Commissioner noted that while the African Continental Free Trade Area (AfCFTA) offers unprecedented opportunities for intra-African trade, its full benefits will remain unrealised unless SMEs are deliberately empowered to participate meaningfully in the market.
According to the AU official, SMEs account for the majority of businesses and employment across Africa, yet many continue to struggle with limited access to finance, inadequate infrastructure, regulatory bottlenecks and restricted access to regional and continental markets.
He explained that for Africa’s single market to thrive, governments must move beyond policy declarations and invest in practical support systems that enable small businesses to scale up, innovate and compete across borders. These include simplified customs procedures, harmonised standards, affordable credit, and digital trade platforms.
The Commissioner also highlighted the role of technology and digitalisation in helping SMEs overcome traditional barriers to trade. By embracing e-commerce, digital payments and regional logistics networks, small businesses can tap into new markets and integrate into regional value chains.
He urged member states, development partners and the private sector to work together to create an enabling environment that places SMEs at the centre of Africa’s trade and industrialisation agenda.
The AU Commissioner concluded that a truly functional African single market will not be measured only by trade agreements signed, but by the ability of African-owned small businesses to grow, create jobs and compete successfully across the continent.
