The President of the All Africa Association for Small and Medium Enterprises (AAASME), Dr. Ebiekure Jasper Eradiri, is leading an AAASME delegation to the United Nations Headquarters in New York to participate in the global celebration of World Micro-, Small and Medium-sized Enterprises Day, joining governments, development partners, business leaders, and entrepreneurs in recognizing the indispensable role of SMEs in global economic development.
Observed annually on 27 June, World MSME Day was established by the United Nations General Assembly to raise awareness of the immense contributions of micro, small, and medium-sized enterprises to sustainable development. Today, MSMEs account for approximately 90% of businesses worldwide, generate 60–70% of employment, and contribute around 50% of global GDP, making them the backbone of economies across the world.
Speaking ahead of the event, Dr. Eradiri commended both the United Nations and the International Council for Small Business for providing a global platform that continues to elevate the importance of SMEs and promote policies that foster innovation, resilience, and inclusive economic growth.
“The United Nations and ICSB deserve commendation for ensuring that SMEs receive the global recognition they deserve. Across Africa, millions of entrepreneurs continue to demonstrate extraordinary resilience despite financing constraints, infrastructure deficits, and market challenges. Today, we celebrate their courage, innovation, and unwavering determination to build the continent’s future.”
The AAASME President noted that while Africa is home to an estimated 125 million SMEs, access to affordable and sustainable financing remains one of the greatest barriers to enterprise growth. He stressed that unlocking the potential of African SMEs requires bold, homegrown solutions that reflect the continent’s realities and aspirations.
It is against this backdrop that AAASME continues to champion the UbuntuSusu Continental SME Billion Fund—an Afrocentric financing model inspired by Africa’s long-standing tradition of cooperative savings and mutual support. The initiative is designed to mobilize African capital for African businesses, creating a sustainable financing ecosystem that empowers SMEs to scale, innovate, and compete globally.
According to Dr. Eradiri, UbuntuSusu represents more than a funding mechanism; it is a movement for economic self-determination and a catalyst for what AAASME describes as the #AfricaSMEEconomicRevolution.
“UbuntuSusu is our collective response to Africa’s financing challenge. It is a practical demonstration that Africans can finance African enterprises through collaboration, trust, and shared prosperity. This is the game changer that will accelerate economic liberation for our continent’s 125 million SMEs.”
As the global community commemorates World MSME Day, AAASME reaffirmed its commitment to working with governments, development institutions, the private sector, and strategic partners to strengthen Africa’s SME ecosystem and unlock opportunities through innovation, investment, and regional integration.
AAASME called on African entrepreneurs to remain resilient and continue building enterprises that create jobs, drive industrialization, and contribute to the successful implementation of the African Continental Free Trade Area.
On this World MSME Day, AAASME celebrates every entrepreneur whose vision, resilience, and enterprise continue to shape Africa’s future, while renewing its commitment to advancing sustainable financing solutions that will transform the continent’s SME landscape for generations to come.
