In a landmark move to strengthen financing for African SMEs, the All Africa Association for Small and Medium Enterprises (AAASME), the Securities and Exchange Commission (SEC), and the Africa International Chamber of Commerce and Industry (AICCI) jointly unveiled the Continental SME Fund, named Ubuntu-Susu, during the 4th Africa SME Roundtable held alongside the Afreximbank Annual Meetings in Abuja. The initiative blends African cultural values with modern financial systems to provide a sustainable, inclusive model of SME financing across the continent.
Key Highlights
Leadership
- AAASME: Dr. Ebiekrue Jasper Eradiri (President)
- SEC: Dr. Emomotimi Agama (Director General)
- AICCI: Ambassador Wallace Williams (Global Board Chairman) (Vanguard News)
Vision & Purpose
- Mirroring the spirit of AfCFTA’s $3.6 trillion market, Ubuntu-Susu aims to help SMEs shift from making “millions” to thinking in “billions.” (Vanguard News)
- Seeks to drive continental investments into SMEs and facilitate exponential growth. (Vanguard News)
Fund Concept
- Emulates traditional “asusu” (informal communal savings) with a modern, inclusive twist.
- Combines “Ubuntu” (African philosophy of togetherness) with “Susu” (community savings model) to create a culturally-rooted, collective financing instrument. (Vanguard News)
Strategy & Timing
- Hosted under the SEC to leverage regulatory credibility.
- Formal launch scheduled for November 2025 during the Africa Celebrates Programme under the AU and UNECA. (Vanguard News)
Broader Context & Significance
- Responds to the need for an Afrocentric financing model tailored to informal SMEs that are underserved by traditional, Western-based systems. (Vanguard News)
- Highlights AAASME’s evolving role as a private-sector SME advocate and financial innovator. (Vanguard News)
Read the full report and interview on Vanguard News.
