Harnessing Digital Technologies to Promote SMEs in the MENAP Region

July 24, 2020

Preview Citation

Format: Chicago

Inutu Lukonga. Harnessing Digital Technologies to Promote SMEs in the MENAP Region, (USA: International Monetary Fund, 2020) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Policy makers in the MENAP region have been formulating policies and designing programs to develop small and medium sized enterprises (SMEs) with a view to create jobs and achieve inclusive growth. But while the programs have helped increase the number of enterprises, growth of SMEs continues to face barriers to growth. As a result, microenterprises predominate and SMEs contribution to employment remains below potential. Partial implementation of reforms explain some of the underperformance, but frictions in strategy design also played an important role. Sustaining current reforms is, therefore, not sufficient to achieve inclusive growth. Digital technologies have potential to boost SMEs productivity and growth and economies are rapidly digitalizing, thus SMEs need to embrace digital solutions to compete and survive. Therefore, for SMEs to be effective engines of inclusive growth, a rethinking of the SME development strategy is needed that makes SMEs’ digital transformation a priority.

Subject: Business environment, Digitalization, Economic sectors, Employment, Labor, Small and medium enterprises, Technology

Keywords: Business environment, Digital economy, Digital Technologies, Digitalization, Employment, Financing SMEs, Global, Government service, Inclusive Growth, MENAP country, MENAP Region, Middle East, North Africa, Private equity, Small and medium enterprises, SME data, SME growth, SME lending, SME policy, SME sector, SME strategy, SME support policy, SMEs in MENAP, Sub-Saharan Africa, WP

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2020/135
Stock No:

WPIEA2020135
ISBN:

9781513550770
ISSN:

1018-5941

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