From economic downturns to global crises, Micro, Small, and Medium-sized Enterprises (MSMEs) have continued to demonstrate remarkable resilience and adaptability, in facilitating economic growth and development across borders.
According to the United Nations, MSMEs account for over 90 per cent of businesses and 60-70 per cent of employment worldwide. These enterprises make up 50 per cent of global GDP. They contribute to the global economy and sustain livelihoods, particularly among the working poor, youth, women, and workers in vulnerable situations. It will be recalled that following a resolution adopted by the UN General Assembly in April 2017, 27th of June was designated as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).
Speaking on the commemoration of this year’s World MSME Day, managing director, Moniepoint MFB, Babatunde Olofin noted that MSMEs can lead the charge toward a sustainable and prosperous future with the proper support from governments, financial institutions, and consumers at large while explaining that enablers like Moniepoint is willing to partner with all stakeholders to can create an environment that supports MSMEs in their efforts to invest, trade, and thrive in local and global markets, harnessing the attendant developmental benefits.
