A Historical Review of the Nature, Relevance, and Challenges of Small and Medium Scale Enterprises (SMEs) in Africa

George Acheampong

George Acheampong Department of Marketing University of Ghana Business School, Ghana

Keywords: Information Literacy, School libraries, CBC, Curriculum development, Kenya

Abstract

Small and Medium Enterprises (SMEs) are essential to Africa's economic development, accounting for 34% to 70% of GDP and up to 86% of employment. This research analyzes small and medium-sized enterprises (SMEs) in Ghana, South Africa, Ethiopia, Nigeria, and Kenya, with an emphasis on financial inclusion, digital transformation, regulatory challenges, and adaptations following the COVID-19 pandemic. Employing thematic analysis and adhering to PRISMA guidelines, the findings indicate FinTech's contribution to the expansion of SME financing, ongoing bureaucratic obstacles, and cybersecurity threats associated with digital adoption. The study advocates for the alignment of SME policies, investment in AI-driven solutions, and the promotion of sustainability strategies to improve SME growth and resilience within Africa's changing business environment.

libraries and IL in a competency-based environment.