The Economic Community of West African States (ECOWAS) has reiterated its commitment to empowering Micro, Small, and Medium-sized Enterprises (MSMEs) as a cornerstone of economic transformation across the region. Speaking at the ECOWAS Small-Scale Business Coalition (ESBC) meeting in Praia, Cape Verde, ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs. Massandjé Toure-Litse, emphasized the need for collaboration, innovation, and trade expansion.
With the theme “Empowering Women for Sustainable Trade, Investment Opportunities, and Economic Growth,” the event also served as a platform to celebrate International Women’s Day 2025, highlighting the vital role of women entrepreneurs in driving economic progress.
ECOWAS’ Commitment to MSMEs and Regional Trade
During the meeting, Toure-Litse, represented by Dr. Tony Elumelu, ECOWAS Director of Private Sector, called on member states to formulate actionable strategies that promote regional integration, industrialization, and investment opportunities. She underscored the African Continental Free Trade Area (AfCFTA) as a powerful tool for boosting economic cooperation and competitiveness.
“With AfCFTA as our springboard, we must capitalize on industrialization, trade frameworks, and investment opportunities to drive economic transformation,” she stated.
According to Toure-Litse, the ECOWAS Small-Scale Business Coalition (ESBC) has evolved into a thriving ecosystem that fosters innovation, job creation, and economic inclusivity across West Africa.
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Women Entrepreneurs: The Driving Force of Economic Growth
A major focus of the event was the recognition of women-led businesses as crucial to West Africa’s economic development. Dr. Abdulrashid Yerima, President of ESBC, emphasized that AfCFTA and the ECOWAS Trade Liberalisation Scheme (ETLS) serve as gateways to unlocking opportunities for millions of female entrepreneurs.
“The women of West Africa are not just participants in this journey—they are its architects,” Yerima stated.
To enhance women’s contributions to regional trade, Yerima stressed the need for:
- Greater access to finance for women entrepreneurs.
- Digital tools that facilitate cross-border trade.
- Policy reforms that amplify women’s voices in economic decision-making.
The event was a tribute to the resilience and leadership of women entrepreneurs in West Africa, who continue to break barriers and innovate within the business landscape.
Cape Verde’s Commitment to Regional Economic Integration
The government of Cape Verde expressed strong support for ECOWAS’ efforts to strengthen economic cooperation in the region.
- Cape Verde’s First Lady, Mrs. Debora Carvalho, thanked ECOWAS for hosting the event and pledged continued support for ESBC’s objectives.
- Cape Verdean Minister of Entrepreneurship, Domingo Monteiro, reaffirmed the country’s commitment to working with ESBC to enhance economic integration and sustainable development.
A Call to Action for Inclusive Economic Growth
As ECOWAS champions MSMEs as key drivers of regional economic growth, the focus remains on harnessing trade, investment, and innovation to build a more resilient and prosperous West Africa. The success of women-led businesses will be critical in shaping the future, and sustained efforts in financing, digital access, and policy reforms are essential for unlocking their full potential.
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