SMEs and Poverty Reduction in Africa

Nirmala Dorasamy ()
Additional contact information
Nirmala Dorasamy: Durban University of Technology

Chapter Chapter 3 in SMEs Perspective in Africa, 2024, pp 27-56 from Springer

Abstract: Abstract There is no doubt that Africa is in a crisis of a different magnitude. With the COVID-19 national lockdown, many citizens lost their jobs without alternative means of livelihood. While unemployment continues to rise, the poverty level has also increased, with many small business enterprises being forced to close their businesses. As of May 2021, more than 50% of the global population were living in extreme poverty (people living on US $1.90 per day) and are domiciled in Africa (Saleh, 2021). By implication, Africa produces the largest number of poor people globally. Nigeria has the highest with 12.6%. One of the factors responsible for this is unemployment among the population. This is partly a manifestation of the weak industrial base that could provide job opportunities for citizens.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69103-4_3

Ordering information: This item can be ordered from
http://www.springer.com/9783031691034

DOI: 10.1007/978-3-031-69103-4_3

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().