Minister of Industry Ryad Mezzour called on Monday for the promotion of women’s entrepreneurship to support Morocco’s economic diversity while highlighting the crucial role of small and medium-sized enterprises (SMEs) in growing Morocco’s national economy.
Speaking at the opening of the high-level political dialogue on SMEs in North Africa, Mezzour highlighted the importance of strengthening SMEs through innovative financing mechanisms, such as crowdfunding and accelerating digital transformation to ensure SME’s competitiveness in the market.
Mezzour also underscored that women-led SMEs play a vital role in diversifying income sources and enhancing the economy’s resilience to challenges.
Libya’s Minister of Economy and Trade, Saad Mohammed Abdullah Lahnyash, praised the importance of SMEs in reviving the Libyan economy, especially in the context of reconstruction, while addressing the challenges of limited access to funding and regional markets.
UNESCO’s regional office director, Eric Falt, called for removing barriers that prevent women from becoming entrepreneurs. Despite progress, he said gender gaps remain that hinder women’s economic potential in the SME sector. He also stressed the need for integrating green and sustainable practices into SME development policies.
Adam Elhiraika, the director of the North Africa regional office of the UN Economic Commission for Africa, pointed out the need for structural reforms to empower SMEs to tackle economic and climate challenges. He urged the adoption of innovative financing tools and improved access to green funding.
Ali Seddiki, the Director General of the Moroccan Agency for Investment and Export Development, highlighted the importance of internationalizing Moroccan SMEs and boosting investments in renewable energy. He pointed out the role SMEs can play in the green transition.
Sidiati Sidiati, the Deputy Director of Accelerated Growth Strategy and Shared Prosperity at Mauritania’s Ministry of Economy and Sustainable Development, said regional cooperation is important to strengthen the resilience of SMEs.
The two-day high-level political dialogue, held by the UN Economic Commission for Africa’s North Africa regional office, brings together government officials, financial institutions, and private sector leaders to discuss ways to enhance the resilience of SMEs against economic and climate challenges while promoting their role in digital transformation and sustainability.