Access to financing remains a major challenge, particularly for small and medium-sized enterprises (SMEs), which form the backbone of the continent’s economy. Experts emphasize that local resource processing, regional value chains, and the African Continental Free Trade Area (AfCFTA) cannot succeed without increased financial support for businesses.
Amid global economic uncertainty and scarce capital, Africa is exploring new drivers of sustainable growth. Access to finance remains a major challenge, especially for SMEs, which undeepen the continent’s economy. Their contribution to Africa’s GDP is estimated at around 40%. SMEs also provide between 60% and 80% of jobs and represent 90% of the continent’s economic fabric. Experts stress that local resource transformation, regional value chains, and the African Continental Free Trade Area (AfCFTA) will not succeed without greater mobilization of financial resources for businesses.
There is one important figure to keep in mind: the financing gap for SMEs is estimated at approximately 330 billion dollars . This is a considerable amount. When you have a financing gap of that magnitude, while at the same time small businesses want to trade and engage in commerce, we must make it as easy as possible for them to expand their trading activities.
DIDIER ACOUETEY, Special Advisor to the President of the African Development Bank
The African Development Bank estimates that the financing gap for African SMEs amounts to several hundred billion dollars, limiting their competitiveness and expansion. Foreign exchange constraints, high trading costs, and a lack of guarantees continue to weigh heavily on their growth. To address these challenges, financial institutions are strengthening guarantee schemes, credit lines, and innovative financing instruments. The objective is to secure trade and facilitate SMEs’ access to the capital they need for development.
We also face significant challenges regarding transfer regulations and exchange regulations. At the banking level, we need to work extensively on exchange regulations which, in some of our regions, have become obstacles to trade because they are extremely restrictive. The conditions imposed on transfers significantly reduce transactions and, in some cases, even encourage the emergence of informal and black markets.
FRANCISCA TATCHOUOP BELOBE, African Union Commissioner for Economic Development, Tourism, Trade, Industry and Mining
Another key takeaway is the central role of the private sector in the continent’s economic transformation. As the source of most jobs created in Africa, the private sector is now seen as an indispensable partner in addressing the challenges of industrialization, regional integration, and wealth creation. Several financing and partnership agreements have already been signed to support strategic projects in infrastructure, energy, agriculture, and trade.
In 2025, just to give you a magnitude of figures, we committed about 3.2 billion euro financing, nearly 30% of this amount was directed to Africa and more than 50% of this amount was granted for African financial institutions to support private sector development but also African entrepreneurship and nearly committed about 400 million euros for Choose Africa which is our initiative to support SMEs and African corporate.
MEHDI TANANI, Regional Director for Central Africa, Proparco
Beyond the announcements, one message stands out: making African economic integration a reality requires building stronger, more inclusive financial systems that are better aligned with the needs of businesses. The continent’s sustainable transformation and the improvement of living standards will depend largely on the ability of its enterprises to invest, produce, and trade.
