Impact of Investment Climate Reforms on Growth and Development of SMES: Comparisons from South Africa, Nigeria and Cameroon
"Drawing from World Bank Investment Climate surveys, the main objective of Investment Climate Assessment (ICA) studies is to develop a better understanding of the constraints to investment and sustained productivity growth in a given country. African economies currently stand as among the fastest growing economies in the world. Despite the perceived growth, Africa still lags behind fellow developing economies in a number of development parameters, including the contribution of the private sector and the growth of its economies. With the celebrated role of Small and Medium Sized Enterprises (SMEs) as important private sector players in creating employment and enhancing economic growth, national governments across the globe have initiated a range of policies and programmes to promote their growth and expansion. This policy brief summarizes the study’s key findings and gives a clear understanding of the business environment in which SMEs operate. It also details the impact of government support policies in enhancing their contribution to economic growth in three African economies."