EBRD and AfDB Collaborate to Enhance SME Growth in Sub-Saharan Africa

The European Bank for Reconstruction and Development (EBRD) and the African Development Bank (AfDB) Group have announced a strengthened strategic partnership aimed at accelerating the growth of small and medium-sized enterprises (SMEs) in Sub-Saharan Africa. The collaboration seeks to tackle significant challenges faced by SMEs, such as limited access to financing and business expertise, which hinder their ability to contribute to economic development.

Building on successful joint initiatives in North Africa, the two development banks will provide tailored financing solutions and advisory support to high-potential SMEs in the region. This integrated approach aims to empower SMEs to expand their operations, create jobs, and stimulate innovation, ultimately strengthening local and regional economies.

“SMEs are the backbone of African economies,” the statement emphasized, highlighting their crucial role in driving sustainable development and innovation. Despite their importance, SMEs often encounter insufficient resources and knowledge, which limit their growth and impact.

The institutions plan to leverage their individual strengths to overcome these challenges. The AfDB offers deep local expertise and a well-established presence in African markets, while the EBRD brings extensive experience in working with SMEs globally. By combining resources and insights, the partnership aims to create a supportive ecosystem for African businesses, attract additional investment, and promote long-term economic progress.

This collaboration aligns closely with the AfDB’s “High 5” priorities, which include promoting industrialization, improving the quality of life for Africans, and enhancing economic integration. Likewise, the EBRD’s mission to foster private and entrepreneurial initiatives complements these goals, generating synergies for impactful SME development across the continent.

The joint initiative reflects both institutions’ commitment to positioning SMEs as key drivers of economic transformation in Africa. With a focus on tailored solutions and sustainable outcomes, the partnership is expected to unlock significant opportunities for SMEs to thrive in an increasingly competitive global market.

By addressing the challenges faced by SMEs and promoting their development, the AfDB and EBRD aim to enable broader economic resilience and transformation across Sub-Saharan Africa. This collaboration represents a meaningful step forward in advancing the region’s private sector and fostering sustainable, inclusive growt