Small and medium enterprises (SMEs) are the backbone of economies worldwide, accounting for over two-thirds of global employment and playing a critical role in job creation and economic resilience. However, persistent financing gaps limit their potential to drive inclusive growth and recovery from economic shocks.
The G20 Global Partnership for Financial Inclusion (GPFI) MSME Action Plan provides a timely framework to address these challenges, fostering resilience and innovation among SMEs while aligning with sustainable development goals (SDGs). The Global SME Finance Forum, an official side event of the G20 South African Presidency, will present GPFI’s comprehensive roadmap to address the systemic barriers hindering SMEs’ access to finance.
G20 MSME Action Plan: Financing and Policy Enablers
Green Financing: Advance environmental sustainability through green loans, carbon credits, and incentives for SMEs adopting eco-friendly practices.
Resilient Value Chains:Strengthen sustainable sourcing, fair labour practices, and circular economy models to future-proof SMEs against disruptions.
Tailored Financial Solutions: Provide customised financial tools to promote the financial health and stability of micro and small enterprises.
Scaling Success Stories: Highlight examples of SMEs achieving growth through innovative financing models and sustainable business frameworks.
Digital Innovation: Powering SME Growth and Global Competitiveness
Operational Transformation: Deploy digital tools (AI, blockchain) to enhance efficiency, transparency, and market access for SMEs.
Value Chain Integration:Highlight success stories of SMEs scaling through digital integration, such as streamlined supply chains or cross-border e-commerce platforms.
Global Reach: Equip SMEs with technology to compete internationally, from cloud based accounting systems to AI-driven market analytics.
Empowering SMEs in Sustainability, Resilience and Growth
Bridging Funding Gaps: Strengthening credit infrastructures, collateral registries, and regulatory frameworks to reduce risks for lenders and improve SME access to capital.
Policy Reforms: Promoting policies that facilitate working capital, trade finance, and digital payments while supporting financial technologies that simplify SME operations.
Public-Private Partnerships:Encouraging collaboration between governments, financial institutions, and private sector stakeholders to mobilize resources, mitigate risks, and scale impactful solutions
For 185 years First National Bank (FNB) has been providing financial services and solutions to help customers meet challenges and opportunities alike. FNB represents FirstRand’s retail and commercial activities in South Africa and the broader African continent. FNB has always asked ‘How can we help you?’ and evolving help in a way that connects customers on the African continent to an ecosystem of platforms that meet their diverse needs, not just in banking, but beyond.
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