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• W1555873519 abstract "Small and medium sized enterprises (SMEs) have proven their dynamism in West Africa. They are perceived by policy makers as an important reservoir for growth. The African Development Bank considers they represent over 90 % of business and provide about 50% of GDP and employment in Africa. Despite the consensus on the role of SMEs in these emerging markets, West African SMEs still face many constraints in their development, particularly in accessing financial and other types of resources. This thesis analyses the causes of the constraints faced by small enterprise in countries member of the West Africa Economic and Monetary Union. It also looks at stakeholders engaged in transforming the status of SMEs. After diagnosing the status of SMEs in West Africa and identifying the stakeholder involved in SME development, the research analyses the limitations of top down public policy approaches that prevailed in most attempts to assist SMEs. It explores new approaches for SME development particularly the strategy of business to business linkage which can bring new and more sustainable dynamics to SMEs growth. Finally the research looks at current trends in the microfinance sector and suggests how a disruptive strategy could position these financial services providers to find new growth opportunity in the SMEs market. Thesis Supervisor: Professor Alex (Sandy) Pentland Title: Toshiba Professor of Media Arts and Sciences RESUME Les petites et moyennes entreprises (PMEs) ont prouv6 leur dynamisme en Afrique de l'Ouest. Elles sont pergues par les d6cideurs comme un important reservoir de croissance. La Banque Africaine de Developpement estime qu'elles representent plus de 90 % des entreprises et fournissent plus de 50 % du PNB des pays africain et de l'emploi en Afrique. En d6pit du consensus sur le r61le des PMEs dans les pays 6mergeants, les PMEs Ouest Africaines font encore face a de nombreuses contraintes dans leur d6veloppement en particulier pour I'acc6s au capital financier ainsi qu'a d'autre type de ressources. Ce m6moire analyse les contraintes auxquelles les PMEs sont confrontees dans les pays membres de l'Union Economique et Mon6taire Ouest Africaine. II1 passe en revue les acteurs engages dans la transformation des PMEs. Apres un diagnostic de la situation des PME et l'identification des acteurs engages dans leur developpement la recherche analyses les limites des approches actuelles dans l'assistance aux PMEs pour la plupart partent d'une approche de politique publique du haut vers le bas. Elle explore ensuite de nouvelles approches notamment les liens direct entre entreprises qui produisent une nouvelle dynamique beaucoup plus durable. Finalement le m6moire s'ouvre aux tendances actuelles dans le secteur de la microfinance et suggere comment une strategie fondee sur le concept de perturbation (disruption) pourrait aider les institutions de microfinance i trouver de nouvelles opportunites de croissance dans le marchd des PMEs. Table of Content Introduction Methodology of the research 6 Methodology 6...... Scope of work Scope 7 Definition Diagnosis of SMEs 12 Economic environment 12 Characteristics of West Africa SMEs 14 Sociological context 16 Technological context 17 Stakeholder analysis .. 18 Barriers to SME Development 21 Policy level constraints 21 Financial constraints 23 Organizational barriers 30 Cultural barriers 30 Information related barriers 31 Strategies for Change 32 Strategic approach 32 New opportunities in Microfinance 34 C onclusion 40 Appendix 1: List of People Interviewed 41 Appendix 2: Questionnaires 42 References 49 List of Tables Table 1: WAMU General Statistics .. 9.... Table 2: Definition of SMEs by Senegalese SME Charter ....... 1 Table 3: Urban Population as % of total population 15 Table 4: Mapping of Stakeholders 20 Table 5: WAMU Credit to the economy provided by commercial banks 26 Table 6: WAMU Credit to the economy in relative value 26 Table 7: WAMU MFI Statistics ...... 27 Table 8: MFI Evolution in Senegal 28 Table 9: Microfinance Outreach by Country 34 Table 10: SMEs needs in financial and non financial services 38 Introduction For many years policy makers have supported private enterprises in an attempt to build the economies of low income countries. Governments in particular have created or supported the existence of private companies. In the past however this effort was essentially oriented big companies, often national monopolies. The recent wave of private sector development initiatives however is shifting the policy efforts to small and medium sized enterprises (SMEs). This new orientation has been possible because of poor performances in most state owned companies and the tension introduced by globalization and the increased need for competitiveness. A better awareness of the potential of SMEs in emerging markets is another reason for this renewed interest in SME development. The West Africa region is a perfect illustration of this tendency. SMEs in the economy have proven their dynamism not only in wealth creation but as well in offering jobs and training to a significant proportion of the population. This new situation raises a relevant question: why given all their recognized potential SMEs still face many constraints that hamper their growth? This research is a contribution to answering this question. The research started as an inquiry in factors limiting SMEs access to financial capital as a critical factors in their development of this category of business. Our research soon revealed however that constraints faced by SMEs in their search for financial capital were symptoms of deeper structural problems. We then decided to to look at SMEs in a more holistic way as that which is the only way come out with effective recommendations. The research does not pretend to exhaustivity in this area rather it points out at critical aspects and makes proposal for action. 1. Methodology of the Research This section introduces the methodology used in this research and proposes a definition of SME. It also defines the scope covered by the thesis." @default.
• W1555873519 created "2016-06-24" @default.
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• W1555873519 date "2007-01-01" @default.
• W1555873519 modified "2023-09-23" @default.
• W1555873519 title "Unlocking the potential of small and medium sized enterprises in West Africa : a path for reform and action" @default.
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