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ECOWAS Boosts MSMEs For Regional Growth

Posted by African Examiner Business News, Featured, Latest Headlines, News Around Africa Monday, March 10th, 2025

(AFRICAN EXAMINER) – The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to empowering Micro, Small, and Medium-sized Enterprises (MSMEs) as key drivers of regional economic growth and development.

ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs Massandjé Toure-Litse, stated this during a meeting of the ECOWAS Small-Scale Business Coalition (ESBC) in Praia, Cape Verde, on Monday.

The News Agency of Nigeria (NAN) reports that the event, with the theme ‘Empowering Women for Sustainable Trade, Investment Opportunities and Economic Growth,’ also marked the 2025 International Women’s Day celebrations.

Represented by Dr Tony Elumelu, ECOWAS Director of Private Sector, Toure-Litse urged member states to collaborate in shaping actionable strategies for integration, competitiveness, and innovation.

She also encouraged them to harness the African Continental Free Trade Area (AfCFTA) to boost industrialisation, strengthen trade frameworks, and attract investments that turn challenges into opportunities.

According to her, the coalition serves as a beacon of hope and is well-positioned to create jobs, empower women and youth, and enhance economic cooperation among member states.

“Let us use today’s discussions to shape bold, actionable strategies that advance integration, competitiveness, and innovation across our region.

“With AfCFTA as our springboard, we must capitalise on industrialisation, trade frameworks, and investment opportunities to drive economic transformation,” she added.

Toure-Litse described the formation of ESBC as a milestone that underscores the coalition’s determination to drive economic growth, innovation, and empowerment across the subregion.

She noted that ESBC had established a thriving ecosystem that supports businesses and communities, highlighting the coalition’s progress and inspiring achievements.

“Today, we gather not only as partners in progress but as architects of a brighter and more prosperous future for our region.

“As we celebrate Women’s Day, we acknowledge the invaluable contributions of women entrepreneurs and leaders who are driving our economies forward,” she added.

Dr Abdulrashid Yerima, ESBC President, said the event’s theme was not just a slogan but a clarion call to action for economic transformation.

He emphasised that AfCFTA and the ECOWAS Trade Liberalisation Scheme (ETLS) serve as gateways to unlocking opportunities for millions of women-led businesses.

Yerima stressed that investing in women’s access to finance, digital tools, and cross-border markets is essential for fostering sustainable growth that benefits entire communities.

He described the event as a tribute to the resilience of women in West Africa and beyond, whose leadership and innovation are shaping a future of shared prosperity.

“As we celebrate, let us also recommit to breaking barriers, amplifying women’s voices in policymaking, and creating ecosystems where every woman entrepreneur can thrive.

“The women of West Africa are not just participants in this journey—they are its architects,” he added, praising their resilience, innovation, and leadership.

Cape Verde’s First Lady, Mrs Debora Carvalho, expressed gratitude to ECOWAS for hosting the event in her country and pledged support for ESBC’s objectives.

Similarly, Cape Verdean Minister of Entrepreneurship, Domingo Monteiro, reaffirmed the country’s commitment to collaborating with ESBC to achieve West Africa’s economic integration and development goals. (NAN)