Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has lamented the high cost of borrowing by the commercial banks in member countries with respect to Small and Medium scale Enterprises (SMEs). Mr Mene stated that sovereign guarantees by governments are needed to enable SMEs thrive. He explained that the issues are not about the lack of availability of funds to support SMEs. Rather, he said, they have to do with risk mitigation. “We are close in resolving that issue,” he told TV3’s Alfred Ocansey in an interview on the Business Focus. Read More.
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