NEWS AGENCY OF NIGERIA

ECOWAS-MSME collaboration excites regional entrepreneurs 

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By Mark Longyen

West African entrepreneurs under the aegis of ECOWAS Small Business Coalition(ESBC) say their collaboration with ECOWAS is crucial to achieving individual, group and subregional economic integration goals.

 

The entrepreneurs spoke in separate interviews with the News Agency of Nigeria (NAN) on the sidelines of ESBC’s inaugural exhibition and workshop in Abidjan, Ivory Coast.

 

According to them, collaboration will ensure positive interface between the ECOWAS body and entrepreneur towards meeting regional and global standards and practices in their businesses.

Mrs Amina Suleiman, CEO, MINALADI Enterprises, a Nigerian fashion designer and manufacturer, who was appointed an ESBC Ambassador, said that collaboration was their strength.

 

“That coming together, uniting, forming a coalition, is helping the SMEs to grow and I believe there’s going to be so many millionaires emerging from this event.

 

“I’ve learned a lot; from the lectures to meeting different African countries to understand that there’s actually unity when it comes to Africans coming together. We keep getting stronger when we are together.

 

“The programme is like an eye-opener for me. I’ve seen so many hardworking people. I’ve seen people that I’ve learned from and I’ll keep learning,” she said.

Mrs Sylviane Kone, from Ivory Coast, a former ECOWAS Director, Human Resources, now Managing Director, AGS Group, an Abidjan-based food processing consultancy firm, stressed the need for the entrepreneurs to collaborate.

 

She said that the essence of ESBC was to facilitate economic integration by harmonising the processing of MSMEs’ goods to produce standard products.

 

“We have to be one, we have to standardise our products if we want competitiveness.

 

“Africa with all the 15 member states of ECOWAS, like Mali are here, Niger, Burkina Faso are also here.

 

“We have to have a strong Africa. We can even export from our 15 member states. This is how we can achieve the goal of success in Africa,” she said.

 

Mahamadou Kinta, CEO, Kinta Enterprises and President, SMEs coalition in Mali, said the event was an opportunity to bring West African entrepreneurs together to agree on business models that would culminate in growing their economies.

 

Kinta noted that Mali was currently facing serious security challenges, which inhibits the free movement of goods and people, stressing that such was inimical to economic integration.

 

He urged ECOWAS and the African Union to resolve the issues because they could block the process of subregional integration.

 

“This event is about strengthening businesses in our region, so we have to come together. That’s why we appreciate this initiative coming from ECOWAS so much.

 

“We have this problem in our country, our goods and people cannot travel freely because they have so many troubles in the borders.

 

“I think this is like a tool to make all the small businesses of our countries come together to empower their businesses to grow faster and move the continent very fast,” he said.

 

Mrs Assetou Djibo, an entrepreneur from Ouagadougou, Burkina Faso, said collaboration among ESBC members was crucial to boosting their economic growth and achieving the objectives of ECOWAS economic integration.

 

“We are here to take action to fight against the forces inhibiting the growth of SMEs in West Africa.

 

“Collaboration among our members is critical to achieving the ECOWAS goal of economic integration,” she said.

For Dr Ebiekure Eradiri, President of the All Africa Association of MSMEs, said standardisation of MSME products by ensuring that they are “concurrent, uniform and acceptable” across the subregion, was key to the ESBCs success.

 

“While we appreciate the efforts and the inputs, standardisation is key.

 

“So, for businesses where SMEs are able to engage products across the West African region, we must be sure that our standards are concurrent, uniform and acceptable among ourselves.

 

“What you make of your goods for it to be acceptable in another country in West Africa is dependent on the rules and regulations of that country and we are saying that we must also think about a universal framework,” he said.

 

Ms Loido Monteiro from Cape Verde, CEO, Smart Cities Project, and ESBC Vice President, said the coalition aimed at collaborating to bring their products to new markets within ECOWAS and the world.

 

She said that through partnerships with other companies, they would grow their markets and companies, create jobs and produce ECOWAS’ future millionaires.

 

“We already have some products that we are ready to sell and we have countries that want to buy, so we are in a good state.

 

“While we have challenges of transport, and finance, we believe if we are together we can resolve these challenges and do business together, with ECOWAS’ support,” she said.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

ECOWAS entrepreneurs seek railway corridor

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Participants at the ECOWAS Small Business Coalition (ESBC) workshop/exhibition in Abidjan, Ivory Coast.(NAN)

 

 

By Mark Longyen

Micro, Small and Medium Enterprises (MSMEs) under the aegis of ECOWAS Small Business Coalition (ESBC), have proposed the creation of a railway corridor connecting all ECOWAS countries, in addition to the existing road network.

 

They made the call at the end of their inaugural exhibition and workshop which held from Nov. 21 to Nov. 23, in Abidjan, Ivory Coast.

 

The event was organised by ESBC, in collaboration with the ECOWAS Commission and Ivory Coast’s Ministry of Commerce and Industry.

The coalition noted the difficulties that the small business operators face in transporting their goods and services between and among member states and emphasised the need for improved communication about cross-border trade obligations.

 

It, however, notes the clarification by ECOWAS that the movement of goods and people within the subregion is free in line with existing protocols but is not exempt from formalities and customs duties.

 

The coalition also proposed solutions to the challenges of transporting the SME’s goods to include the need to end cross-border harassment and corruption due to unnecessary “taxes.”

Members also proposed the empowering of local SBCs to enable them issue certificates of origin to entrepreneurs, as well as the establishing of online training sessions for their capacity building.

 

The coalition also proposed the creation of a railway corridor connecting all ECOWAS countries, in addition to the existing road network.

 

According to the coalition, access to information is key to SMEs’s success, hence, the need to raise awareness, adding that they should leverage the recently unveiled African Continental Free Trade Area (AfCFTA) and ECOWAS policies.

 

It also emphasised the need for the harmonisation of fiscal rule across ECOWAS, as well as the need for SMEs to choose appropriate business models and consulting advisory firms.

 

The report notes that much remains to be done to improve competitiveness through innovation and sustainability to push SMEs beyond borders, while proposing training them on certification, efficient technology transfer and increasing research.

The coalition further noted that financing was at the core of SMEs’ challenges because while financing mechanisms are in place, SMEs’ absorption capacities are difficult, as many are ill-equipped to leverage these mechanisms.

 

They, therefore, proposed to focus on promoting innovation and new business models that would fit African realities, such as reimagining economic development models and learning from BRICS approaches.

 

The group also proposed the establishing of an ESBC television; a bank for SME financing; the designing of strategies to encourage the creation of a common currency; and lifting of customs and monetary barriers.

 

The coalition also proposed the creation of international shipping lines, establishing clear legislation or regulations applicable to all ECOWAS states, as well as facilitating access to ports for landlocked countries.(NAN)(www.nannews.ng)

edited by Sadiya Hamza

ECOWAS tasks subregional  entrepreneurs on trade growth

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By Mark Longyen

The Economic Community of West African States (ECOWAS) has called on West African entrepreneurs to strengthen subregional trade, saying it is collaborating with the private sector to boost subregional economic growth.

 

Dr Omar Touray, President of the Commission, made this known at the inaugural edition of the ECOWAS Small Business Coalition (ESBC) Exhibition and Conference in Abidjan, Ivory Coast, on Thursday.

 

The News Agency of Nigeria (NAN) reports that the three-day fair brought together West African Micro, Small and Medium Entreprises (MSMEs) to showcase their products, and explore collaborative opportunities for growth.

 

Touray, represented by Dr Tony Elumelu, ECOWAS Director, Private Sector, described the event as a crucial step in preparing the subregion to actively participate in the recently unveiled African Continental Free Trade Authority (AfCFTA).

 

He reminded the entrepreneurs of the importance of regional integration in driving economic growth and development and called on them to leverage the opportunities provided by AfCFTA to achieve success.

“The African Continental Free Trade Area (AfCFTA) presents a unique opportunity for our region to increase trade, investment, and economic cooperation.

 

“This fair is a crucial step in preparing our subregion to actively participate in the AfCFTA.

 

“The ECOWAS Commission has been working closely with critical stakeholders to facilitate the private sector.

 

“We have engaged with regional business associations, such as FEBWE, FEWACCI, MAN, and FOPAO, to support businesses and promote regional economic integration,” Touray said.

He said that ECOWAS had also developed an MSME Charter, which is a landmark document to promote the growth and development of MSMEs in West Africa.

 

According to him, the Charter focuses on a broad spectrum of intervention areas, including enterprise education, regional collaborations, regulatory enhancements, promotion of specialised development corridors, and crucial financial assistance for MSMEs.

 

He said that it also addresses issues relating to support for women in business, recognising the critical role that women play in driving economic growth and development in the region.

 

“To further support businesses, ECOWAS is developing a text on regional economic zones, with the support of the World Bank through its implementing agency, IFC.

 

“ECOWAS has also adopted a regulation on the ECOWAS Business Council with clear criteria for composition.

 

“I am confident that this fair will pave the way for increased cross-border trade, regional integration, and economic growth in our subregion,” Touray added.

Also speaking, Dr Abdulrashid Yerima, President, ESBC, said the event was organised to celebrate the “modest achievements” of MSMEs in the subregion and reaffirm their commitments to fostering a united, and thriving ECOWAS.

 

He disclosed that the group was about to create a comprehensive database of MSMEs across ECOWAS states that would serve as a foundation for understanding the needs, addressing the challenges, and fostering growth.

 

Yerima said the coalition was dedicated to overcoming barriers to cross-border trade, streamlining processes, providing access to finance and markets, and ensuring that MSMEs succeed in both regional and global markets.

 

“Today, we are reminded of the importance of regional integration in driving economic growth and development.

 

“The African Continental Free Trade Area (AfCFTA) presents a unique opportunity for our region to increase trade, investment, and economic cooperation.

 

“This exhibition is more than just a gathering; it is a crucial step in preparing our subregion to actively participate in the AfCFTA,” he said.

 

The ESBC President noted that by fostering collaboration among SMEs, governments, and stakeholders, they would lay the groundwork for ECOWAS to become a leading contributor to Africa’s continental trade ambitions.

 

Dr Souleymane Diarrassoba, Ivory Coast’s Minister of Commerce and Industry, thanked ECOWAS for choosing the country to host the event, and pledged to collaborate towards the subregion’s integration and development.

 

Represented by Mr Silvere Konan, Director General, SMEs, he said SMEs were essential for national industrial development due to their immense potential value creation, lasting employment, and wealth development.

 

Diarrassoba noted that SMEs could play a much more important role in economic development, hence, the Ivorian government’s support for all initiatives of promoting, developing and strengthening them.

 

Mrs Fanta Cisse, ECOWAS Resident Representative to Ivory Coast, in a remark, explained that the event was designed to encourage regional integration through different measures and rules that exist in the context of regional integration.

She said it was a remarkable success because all ECOWAS’ 15 member countries, including the so-called Sahel’s Burkina Faso, Mali and Niger, attended.(NAN)(www.nannews.ng)

Edited by Ismail Abdulaziz

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