By Lizzy Chirkpi
The ECOWAS Parliament has called for sanctions against member states that fail to implement agreed regional policies designed to support Micro, Small and Medium-sized Enterprises (MSMEs), warning that persistent non-compliance is undermining economic integration, regional trade and private sector growth across West Africa.
The recommendation emerged at the ongoing delocalised meeting of the Parliament’s Joint Committee on Industry and Private Sector, Macroeconomic Policy, Economic Research, Administration, Finance, Budget and Public Accounts in Cotonou, Benin Republic.
Addressing the meeting, former ECOWAS Director of Private Sector and current representative of the ECOWAS Business Council Secretariat, Dr. Tony Elumelu, said the sub-region already has adequate policies to support MSMEs and should now focus on enforcing them rather than introducing new ones.
“What we need to do is to enforce those policies that we have already adopted and remove every bottleneck that impedes MSMEs from thriving,” Elumelu said.
He urged the regional parliament to recommend sanctions for member states that fail to implement existing ECOWAS protocols, arguing that weak compliance continues to frustrate businesses despite the availability of robust legal and policy frameworks.
Elumelu identified multiple checkpoints along major highways, poor transport infrastructure, regulatory bottlenecks and inconsistent implementation of regional agreements as some of the major challenges hindering the growth of MSMEs and the expansion of intra-regional trade.
“The formulation of new policies is not what MSMEs within the sub-region need presently, but rather the creation of an enabling environment for businesses to thrive,” he added.
Also speaking, ECOWAS Principal Programme Officer for Enterprise and Business Promotion, Dr. Olalekan Afolabi, stressed the need to formalise the region’s vast informal business sector as a critical step toward achieving sustainable economic growth.
Afolabi urged the ECOWAS Parliament to encourage member states to fully implement existing policies and programmes aimed at promoting enterprise development and strengthening the regional economy.
“There are too many informal businesses across the sub-region, which ought to be formalised,” he said.
According to him, effective implementation of existing regional policies would improve the operating environment for MSMEs, enhance access to finance and markets, and accelerate economic development across the sub-region.
The renewed call for stricter enforcement is in line with ECOWAS’ broader strategy to strengthen MSMEs. Earlier this month, the regional bloc launched a new MSME development initiative aimed at improving the competitiveness of small businesses, expanding access to regional and international markets, and deepening implementation of the ECOWAS MSME Charter.
Lawmakers at the meeting are expected to consider recommendations that could strengthen compliance with ECOWAS protocols and enhance the contribution of MSMEs to economic growth, job creation and regional integration across West Africa.