Technology is critical to the growth of Micro, Small and Medium-scale Enterprises (MSMEs) , an online business directory company, Market Link Africa (MALA) has said.
According to reports, there are over 36.9 million MSMEs comprising 96.7 per cent of businesses in Nigeria out of which 67 per cent are youth-owned.
MSMEs contribute over 45per cent to the country’s gross domestic product (GDP) with 98.8per cent of them in the micro cadre. They account for nearly 90 per cent of jobs in the country.
The company’s Project Manager, Austine Mabamidje, who spoke in Lagos at the inauguration of a digital business directory to help MSMEs forge connections across Africa, said the directory would help businesses to link, connect and collaborate to grow and expand for profitability.
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Mabamidje said in this era marked by globalisation and technological advancements, the ability to bridge gaps and forge meaningful connections had become more critical than ever.
He said: “Mala is a digital directory that has over 80,000 MSMEs with their addresses, products and services listed.’’
“MSMEs across Africa even to rural areas are vital parts of the country’s economic growth. Until now they were not visible and their economic impact not felt, but with the launch of the digital directory they would become visible and promoted.
“Africa, with its diverse and vibrant markets, is a treasure trove of untapped potential, hence the need for connections and collaborations to bridge the economic gap.”
Mabamidje said the digital directory would provide a comprehensive digital platform that brings together entrepreneurs, companies, investors, and stakeholders from across the continent.
According to him, it is a virtual marketplace where dreams meet opportunities, where ambitions soar and where partnerships flourish.
He said that the platform went beyond geographical boundaries, facilitating collaborations that transcended borders, cultures, and languages.
Mabamidje said that it was a testament of commitment to harness the collective strength of Africa’s business community for the greater good.
He, however, called for partnerships to ensure the provision of adequate internet facilities to ensure MSMEs in rural areas had access to the platform.
“Together, we are breaking barriers, paving the way for a more prosperous and inclusive future. Our objective at MALA is to keep people inspired, informed, interested and involved.
“Today, we gather here to celebrate the birth of an extraordinary platform that will redefine the future of commerce in Africa,” Mabamidje said.