Former President, John Dramani Mahama, has called for improved support for Small and Medium Scale Enterprises (SMEs) in Africa.
John Mahama made this remarks at the ongoing African Economic Congress 2021. According to him, SMEs have limited capacity to access funds, and “so let Governments offer SMEs funds and tax waivers to stimulate them to expand and employ more of our youth and People with Disabilities.”
The Former President recalled a proposal he made for the Social Security and National Insurance Trust (SSNIT), to help support persons with disabilities who engage in the some form of SMEs.
“In my country, Ghana, for instance, I recall proposing that the Social Security and National Insurance Trust (SSNIT) agree to an arrangement with such persons, particularly those in the private sector such that they pay them a small part of their contributions to enable them to survive during such periods of hardship. The COVID-19 lockdown periods demonstrated clearly that the success of a nation depends on businesses in addition to its SMEs, which employs millions and is a key driver of development.”
John Mahama
John Mahama indicated that governments in the Sub Saharan Africa must advance the course of SMEs.
“The quest for Foreign Direct Investment (FDI) is great, no doubt, but the mantra for development also demands that we improve our own SMEs. SMEs have limited capacity to access funds so let Governments offer SMEs funds and tax waivers to stimulate them to expand and employ more of our youth and People with Disabilities.”
John Mahama
African Countries Must Develop the Manufacturing Sector
The Ex-President charged governments to develop the industrial sector to reduce the burden on economies in Africa.
“Governments must also invest strategically in manufacturing to limit the heavy burden of imports on African economies. This will create more jobs. I am confident that Africa can rise up to challenges arising from the pandemic.”
John Mahama
John Mahama emphasized that African governments should make sure their growth reflect in the livelihood of the ordinary individual. He also calls for inclusive growth that will help create jobs.
“As Africa builds back, priority should be placed on the quality of growth, not just the quantum of growth. No growth is worth harping if it does not improve or reflect in the livelihoods of our people. Growth must be more equitable and focused on sectors that are better able to create jobs. For me, growth is not inclusive if it is not shared equitably.
“This is the reason we need to deepen democracy in Africa and empower citizens and Civil Society Organisations (CSOs) to advocate inclusive and shared growth.”
John Mahama
The Former President noted that Africa’s greatest tasks is to build effective partnerships and reinforce leadership to navigate through the pandemic, save lives, and put economies back on more resilient recovery pathways. “The speed and quality of the economic recovery process from the pandemic will depend on our shared sense of collective responsibility.”
He concluded by charging African governments to be transparent in their dealings. He stated that, “this is what our national discourse, and the intra-African discourse, must be about. We also need honesty and transparency from governments.”
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