ECOWAS Parliament Advocates for MSME Reforms in West Africa

The ECOWAS Parliament, under the leadership of Speaker Hadja Memounatou Ibrahima, held a delocalised meeting of its Joint Committee on Industry and Private Sector; Macroeconomic Policy and Economics Research; Administration, Finance, Budget and Public Accounts on Monday in Cotonou, Republic of Benin. Ibrahima, represented by Second Deputy Speaker Adjaratou Coulibaly, emphasized the importance of Micro, Small, and Medium Enterprises (MSMEs) as key drivers of economic growth and development in the region.

She stated that strengthening MSMEs would help address security challenges in the sub-region. The informal sector, which constitutes nearly 90% of economic activities and employs about 60% of West Africa's labor force, was highlighted as vital for local economies.

Co-Chairman MP Alhagie Darbo advocated for practical policy measures to empower MSMEs, remove barriers to their development, and enhance their contributions to the economy. He stressed the need for institutional commitment to achieve the ECOWAS Vision 2050.