In 2019, the West African entrepreneurial ecosystem experienced major development, with the rise of tech hubs and impact investing activities. There was particularly an increase in direct and indirect investment funds from Development Finance Institutions (DFIs), as indicated in ANDE’s recent State of the Small and Growing Business Sector report.
In South Africa, the second largest economy in sub-Saharan Africa in 2019, SGBs contribute to the economy by increasing employment and job creation opportunities to many people who would not be generally employed by the larger corporations.
In 2019, 119 participants from 66 organizations and 17 countries attended the ANDE West Africa Regional Conference to discuss key issues in the West African SGB sector.