Odimmegwa Johnpeter/Abuja
The parliament of the Economic Community of West African States (ECOWAS) says there is the urgent need for enabling policies that will help the Micro, Small and Medium Enterprises (MSMEs) thrive.
The lawmakers maintained that the MSMEs constitute the backbone of local economies and generates employment, stimulate innovation, promote entrepreneurship, empower women and youths and facilitates cross-border trade.
The parliament’s Co-Chairperson of the Joint Committee on Industry and Private sector, Macroeconomics Policy and Economics Research, Administration, Finance and Budget and Public Accounts Committees, Hon. Alhagie Darbo stated these while giving a remark on behalf of the committees at the opening of its meeting on Monday, July 27, 2026 in Cotonou, Republic of Benin.
Hon. Darbo noted that informal sector’s contributions to economic activities and labour force can never be over-emphasize hence the need to empower it to thrive.
He said “across our region, Micro, Small and Medium Enterprises constitute the backbone of local economies. It generates employment, stimulate innovation, promote entrepreneurship, empower women and young people, and facilitate cross-border trade. Yet, despite their enormous contribution, a significant proportion of these enterprises continue to operate informally, limiting their access to finance, markets, technology, business support services and legal protection. It is estimated that the informal sector accounts for nearly 90% of economic activities and employs not less than 60% of our labour force across member states.
While this demonstrates the entrepreneurial spirit of our people, it also highlights the urgent need to create enabling policies that encourage formalisation, improve productivity and integrate MSMEs into regional and continental value chains”.
The Gambian lawmaker however advocated practical policy measures that will remove barriers confronting MSMEs and unlock their full potentials within the sub-region.
He said, “As representatives of the peoples of West Africa, we have a collective responsibility to identify practical policy measures that will remove barriers confronting MSMEs and unlock their full potential. Formalising and strengthening these enterprises is not merely an economic imperative; a pathway to sustainable development and poverty reduction.
Distinguished Members and other participants, the adoption of ECOWAS Vision 2050 provides us with a clear strategic framework for transforming our Community into a peaceful, prosperous and fully integrated region driven by its people. Achieving this vision requires stronger institutions commitment, including enabling business environment where MSMEs can thrive, compete and participate effectively in regional and beyond”.
He thereafter called for discussions that will not only identify challenges but that will provide practicable panaceas for a thriving MSMEs in ECOWAS states.
“Our discussions over the coming days should therefore move beyond identifying challenges. We must focus on developing practical recommendations that will support harmonised policies, improve access to finance, enhance digital transformation, facilitate intra-regional trade, strengthen productive capacities, and promote the participation of MSMEs in regional value chains under the ECOWAS Trade Liberalisation Scheme and the African Continental Free Trade Area.
I am confident that the wealth of experience represented in this room including Honourable Members, policy experts, representatives of the private sector and development partners will generate insightful discussions and actionable recommendations capable of advancing the economic transformation of our Community” he said.
Declaring the meeting open, the Speaker of the ECOWAS parliament, Hon. Hadja Memounatou Ibrahima maintained that MSMEs remain a major driver of the economic and development of the sub-remain.
Represented by the Second Deputy Speaker, Hon. Adjaratou Traore Coulibaly, the speaker stressed that MSMEs can help address insecurity that is bedeviling ECOWAS states.
According to her, when women and youths are empowered to contribute to economic development through the empowerment of MSMEs, insecurity has been indirectly addressed.
It is believed that if recommendations by members and experts in this meeting would be implemented by relevant authorities, the economy of West African states would be strengthened to compete with developed communities around the world.
This will however help the sub-region to take its pride of place among committee of nations.
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