Describing MSMEs as “engines of economic activity and lifelines for communities,” Guterres emphasized their critical role, representing over two-thirds of global businesses and driving innovation, job creation, and GDP growth, particularly for women and youth in emerging economies.

Despite their significance, MSMEs face persistent systemic barriers. The Secretary-General highlighted limited access to affordable credit, exclusion from global supply chains, and insufficient digital capacity as major obstacles. These challenges are exacerbated by geopolitical tensions, inflation, and unequal access to emerging technologies like artificial intelligence. According to International Finance Corporation data, African MSMEs face a financing gap exceeding $300 billion, with Bank of Ghana reports indicating fewer than 10% of Ghanaian SMEs access formal credit.

To unlock MSME potential, Guterres called for concrete action from governments, financial institutions, and the private sector. Key interventions include expanding access to affordable financing tailored for women and youth entrepreneurs, opening new markets by simplifying trade barriers and strengthening value chains, and improving digital infrastructure and skills to enable MSMEs to leverage e-commerce and AI tools. “We must commit to unleash the transformative promise of MSMEs,” he stated.

The call resonates strongly in economies like Ghana, where SMEs account for over 70% of industrial employment and 92% of private businesses, according to the Ghana Statistical Service. Analysts stress that empowering these enterprises is central to inclusive economic recovery and resilience amid global headwinds. “Empowering SMEs is not charity, it’s smart economics,” noted Accra-based economist. “What they need are systems that see them as central to inclusive growth.”

Building SME resilience is increasingly vital for global economic stability. With the right investments and policies, MSMEs can steer economies toward more equitable and sustainable development, transforming local markets from Ghana’s Makola to Nairobi’s tech hubs into engines of broader prosperity.