COMMUNIQUÉ OF THE 2018 AFRICA SME ROUNDTABLE FORUM HELD AT YENAGOA CITY, BAYELSA STATE, NIGERIA.

COMMUNIQUÉ OF THE 2018 AFRICA SME ROUNDTABLE FORUM HELD AT YENAGOA CITY, BAYELSA STATE, NIGERIA.

INTRODUCTION:

The 2018 Africa SME Roundtable Forum was successfully hosted and held at the Chief D. S. P. Alamieyeseigha Memorial Banquet Hall, Government House, Yenagoa City, Nigeria from March 1-3, 2018. The Theme of the Roundtable Forum was “The Position of Africa SMEs within the Global Economy; Unlocking Market Opportunities’’.

The Roundtable Forum was endorsed by the World Association for Small and Medium Enterprises (WASME), initiated by the Knight Lambert Foundation and Co-hosted by the Bayelsa State Government through the Bayelsa State Microfinance and Enterprise Development Agency (BYMEDA).

OVERVIEW:

The two day Roundtable Forum had the presence of over 300 participants. Major highlights of the 2018 Africa Roundtable Forum include:

• Roundtable Technical Sessions.
• Unveiling of the SME Compendium: 6 Years of Bayelsa State Restoration Government by the Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd.), representing the Governor, His Excellency, Henry Seriake Dickson.
• The Inauguration of the All Africa Association for Small and Medium Enterprises (AAASME) by Alhaji Babale Girei, President, World Association for Small and Medium Enterprises (WASME).
• Inaugural Board Meeting of All Africa Association for Small and medium Enterprises (AAASME).

The Forum resolved that SME policy makers should develop policies and structures based on existing African cultures that will work for Africans rather than inculcate foreign models from Europe or other developed Countries. The 2018 Africa SME Roundtable Forum herewithpresented the following recommendations and action plans;

RECOMMENDATIONS:

1. Government at all levels should increase funding for MSMEs in Agricultural Sector.

• Government at all levels and Private Sector Organizations should increase training programmes that will advance technological innovations to encourage growth and sustain MSMEs.

• Government and necessary Private Sector players should develop a clear road map for Agro-Entrepreneurs aimed at developing the Agricultural Sector.

• Government should liaise Private Sector Organizations and train entrepreneurs on Operational Cost Management, Financial Management, Business Growth and Sustenance Principles.

• Government and Private Sector Organizations should foster the necessary synergy that will help entrepreneurs develop the required ICT software mechanism to create increased access to market for MSMEs products and services.

• Government at all levels; Private Sector Organizations and MSMEs Donor Agencies should develop policies that will help integrate the informal sector into the MSMEs Sub-sector of the Manufacturing sector.

• Government at all levels should work to actualize the necessary Public, Private Sector Partnership (PPP) to increase power generation and development of other critical infrastructures.

• Government Agencies and Private Sector Organizations saddled with Research and Development should assist MSMEs with necessary research and development.

• Government should collaborate with MSMEs Operators to give necessary information on alternative sources of funding opportunities for MSMEs and required conditions for accessing such funds.

1. Current procedure(s) for incorporation of companies should be reviewed, with the aim of eliminating existing administrative bottlenecks.

1. The Ministry of Education and all related Agencies should redesign our curriculum to promote and encourage entrepreneurship.

1. Government at all levels should develop policies that will encourage MSMEs incubation.

1. Government infrastructural development should be designed to improve existing networks and linkages that will create increased and robust markets for MSMEs.

1. Future Government policies should be designed to encourage and impact investors, easy access to grants, startup funds, etc.

1. Potential and existing MSMEs Operators must the moral and business capacity to repay loans and make judicious use of funds and starter pack.

1. Governments should implement strategies to stem the recent increase of economic driven migrants out of Africa. They must take the lead in this long but crucial process.

1. Governments must implement public education and capacity development to equip the youth, which form the majority of migrants, with the requisite skills to create wealth through starting small businesses. This will spur further job creation as Governments will need to hire more staff as businesses expand.

IMMEDIATE ACTION PLANS:

1. Formulation of government policies that protect and promote the interests of SMEs.

• Train and equip entrepreneurs with business and management skills: drafting business plans, use of efficient accounting systems and frugal fund management

• Development of clearer road map for Agricultural entrepreneurs aimed at developing the Agricultural sector.

• Improvement of power generation and development of other critical infrastructures.

• Funding of research and development centres.

• Provision of information on alternative sources of funding opportunities for MSMEs and required conditions for accessing such funds for SMEs growth.

• Develop SMEs that are in line with African cultures and traditions.

• Collaborate with the Private Sector to help drive SMEs through the provision of funds that create jobs and reduce poverty in Africa.

• Develop technology for SMEs in Africa.
• Developments of policies that will help integrate the informal sector into the MSMEs Sub-sector of the Manufacturing sector.
• Governments should set up a Migration Council to liaise with the International Organizations for Migration and other key Stakeholders. The Council will place particular emphasis on involving the private sector through public-private partnerships and innovative funding mechanisms to spur the growth of the private sector and develop new solutions to longstanding challenges that face SMEs.

CONCLUSION:

The Forum rounded off on Saturday, March 3, 2018 with an experience tour to some significant sites in Bayelsa State and a showcase of the African Sister-Cities Expo/Made in Bayelsa Trade fair. The 2018 Africa SME Roundtable Forum was an opportune time to awaken the SMEs in Africa for the necessary growth of African economies and it provided platforms for Business-to-Business (B2B)/Business-to-Government Opportunities (B2G), Business Platforms and Regulators interface.

Present at the 2018 Africa SME Roundtable Forum included; Financial Institutions, Global SME Funding Support Institutions, SME Experts, Angel Investor, Crowd Funders, Venture Capitalists, Franchise Agencies, Government Agencies, etc.

DATED THIS 15^TH DAY OF MARCH, 2018

SIR INNOCENT IYALLA HARRY

EXECUTIVE DIRECTOR, THE KNIGHT LAMBERT FOUNDATION.

COMMUNIQUÉ ENDORSEMENT