“African governments must be deliberate about supporting SMEs” – Sylvester Mensah
African governments have been urged to be more deliberate in their support for SMEs in their countries. Chief Executive of the Ghana EXIM Bank, Hon. Sylvester Mensah, made the call when he addressed the Global SME Finance Forum taking place in South Africa.
Supporting SMEs, according to Mr Mensah, includes assisting them to surmount regulatory hurdles by creating an environment that enables regulatory compliance.
“African governments must be deliberate about supporting SMEs. One way of doing so is facilitating their acquisition of regulatory licenses and certifications by creating a one-stop shop where SMEs can interface with regulators, meet requirements, and get their licenses,” he stated.
In many third-world economies, Mr Mensah noted that information on securing licences and relevant certifications is often sketchy and fragmented, yet regulators come hard at SMEs that fail to comply.
Most SMEs in Ghana, for example, have to regularly interface with the Registrar of Companies to file their returns, the Food and Drugs Authority, and the Ghana Standards Authority for standards certification and compliance.
SMEs dealing with regulators to align their processes after non-compliance, he observed, increase their costs of operation. Hence, his suggestion of creating a one-stop shop where various regulators will have desks to attend to the needs of these enterprises.
“Not only is this convenient for SMEs, but it also ensures efficiency in their operations,” the GEXIM Chief Executive told the Forum on Tuesday.
Mr Mensah further emphasized the significance of SMEs to African economies, stressing their relevance to economic growth.
He said, “SMEs are integral to the development of economies. We must therefore champion their growth. Governments do not do SMEs a favour by supporting them to grow. SMEs hold the key to economic growth. Creating the environment and providing support for them to thrive is the way to go.”
The Global SME Finance Forum, being organised by the International Finance Corporation (IFC), under the auspices of the G20, is on the theme, “Building resilience and creating opportunities for growth.”
The Forum held from September 15-17, 2025, is an annual gathering of SME leaders and other facilitators such as banks, DFIs, and governments across the world.
