One of the many lessons learned from the pandemic is that SMEs need to embrace digital transformation, not just to weather unplanned challenges but because it will help them be more competitive and stable. Digital enablement is not just a means of survival. It is a way for SMEs to conduct business more efficiently, which in turn can empower them to expand their operations and earnings further. 

Being nimbler than their big business counterparts, SMEs can quickly rethink their marketing strategies and adopt new technologies to enhance their offerings faster. Digital innovation provides extraordinary opportunities for SMEs. It empowers them to implement new market models, has a greater line of sight across their business, improves traceability, and meet their customers, service providers, and logistics partners, in many instances, all on the same page. 

In the digital trading space, solutions such as import/export platforms, automated cargo-tracking and digital reporting of non-tariff barriers can significantly provide efficient cross-border trade levelling the playing field for SMEs. This, in turn, is good for both the customers and communities they serve as well as the continent’s economic growth on a wider scale.

Among other things, through the Japan International Cooperation Agency (JICA), Japan has supported the Enhancement of the Private Sector Assistance (EPSA) for Africa initiative, which has been successfully implemented over three phases since 2007.

According to the AfDB media report, Japan has contributed approximately $5.2 billion to investments in sovereign and non-sovereign operations through this initiative.

The report also points out that Japan subsequently invested another $86.9 million in technical assistance and capacity building. Further still, at the just ended TICAD 8, Japan reiterated its funding commitment for the fifth phase of EPSA.

The United Kingdom (UK) has played a key role in participating in commercial investments in Africa in major production areas with varying results.

Africa’s road infrastructure remains essential for landlocked countries, where opening manufacturing zones are needed. Reliable road transport is required for businesses to import and export goods, complete orders, and procure supplies.

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