Addis Ababa — South Africa is set to host the first-ever Global Small and Medium-sized Enterprises (SME) Ministerial Meeting, a governmental official announced on Thursday.
Minister of Small Business Development Stella Ndabeni said in a media briefing that South Africa will galvanize a call-to-action to influence dialogues and decisions at the G20 (Group of 20) Summit under South Africa's leadership.
"We are unequivocal that the G20 needs a sharper MSME (Micro, Small, and Medium Enterprises) focus with its own dedicated Working Group, and we will use this Global Ministerial Meeting to bolster this position," the minister stated.
The meeting, scheduled from July 22 to 24 in Johannesburg, would serve as a platform to amplify the voices and concerns of small and medium businesses.
Keep up with the latest headlines on WhatsApp | LinkedIn
The minister stressed that practical solutions to boost the small and medium business support ecosystem would emerge from the gathering.
According to Ndabeni, one priority would be access to capital. Another crucial issue would be trade and market access, as "global value chains are being reconfigured with countries shifting toward heightened levels of trade protectionism."
Across the world, small businesses play a critical role in economic development and job creation, she said, noting that they represent 90 percent of all enterprises and provide two-thirds of jobs globally.
"The ministerial meeting will serve as a dedicated platform for ministers and officials responsible for MSMEs to share strategic insights, shape future policies, and foster global consensus on the small business agenda," the minister added.
