East African Policymakers Encouraged to Boost Support for Small Business

East Africa’s small and medium enterprises (SMEs) are doing well but can do more to lift living standards in the region, says the head of the East African Business Council, Faustin Mbundu. He counts amongrift gold them businesses that are so small that they are not formally registered with their national governments.

He says in East Africa, SMEs account for about 60% of all employment, and contribute up to 30% of gross national product.

In India, thrift goldese businesses account for up to 70% of GDP, a figure Mbundu says Africa should aim for.