SMEs are Catalysts for Economic & Social Growth...
In Sub-Saharan Africa, 40% of the population grapples with extreme poverty. However, according to the African Development Bank, boosting SME lending by just 10%, could lift 2% of this number- more than 8 million people out of poverty. These aren't just numbers, its full bellies in classrooms, families escaping despair, and communities blossoming.
< USD 3 Million
According to the International Finance Corporation, formal SMEs in Sub-Saharan Africa generate annual revenues ranging from $100,000 to $3 million per year.
80%
Over 80% of the Sub-Saharan Africa's workforce finds their livelihoods in SMEs, making them the backbone of employment and income generation in the region.
50%
World Bank data reveals a stark reality: over 50% of SMEs in Sub-Saharan African lack access to the credit that is needed to scale their businesses.