In a significant boost to Africa’s entrepreneurship ecosystem, Switzerland has pledged CHF 8 million (approximately US$10 million) to the International Trade Centre (ITC) to support small business growth and trade innovation across developing economies, with a strong focus on the African continent.
The announcement was made during the first-ever Global SME Ministerial Meeting in Johannesburg, where Switzerland’s State Secretary for Economic Affairs, Helene Budliger Artieda, and ITC Executive Director, Pamela Coke-Hamilton, signed a landmark agreement. The voluntary core funding will span 2025 to 2029, enabling the ITC to scale strategic support to micro, small and medium-sized enterprises (MSMEs) and respond rapidly to global economic shifts.
“This funding reaffirms our shared commitment to using trade as a driver for development,” said Artieda. “Switzerland and ITC both recognize that sustainable growth hinges on the empowerment of small businesses especially in Africa, where entrepreneurship is the heartbeat of economic opportunity.”
Unlike earmarked funding, this core contribution grants the ITC operational flexibility to innovate, invest in digital tools, strengthen institutions and support continental priorities like the African Continental Free Trade Area (AfCFTA). Key global tools such as the Global Trade Helpdesk and Standards Map widely used by African SMEs are among the initiatives expected to benefit directly.
Coke-Hamilton emphasized the enduring value of the Swiss-ITC partnership: “This funding allows us to empower the entrepreneurs who need it most, especially in Africa. As trade rules evolve and market dynamics shift, small businesses must be equipped to adapt, compete and scale.”
The commitment comes at a pivotal moment, as over 700 delegates from nearly 70 countries gathered in Johannesburg to elevate the global importance of the SME sector. The Global SME Ministerial Meeting is poised to shape international policy dialogue, with its outcomes set to influence the upcoming G20 Leaders’ Summit in South Africa.
By aligning with the ITC’s inclusive trade mandate, Switzerland is not only reinforcing its role as a development partner but also championing a model of entrepreneurship-led industrialization. The funding is expected to catalyze innovation, create jobs and drive investment into African markets that have long been underserved yet rich in potential.
This latest move reflects a growing international consensus: empowering Africa’s entrepreneurs is not just a development goal it’s a global economic imperative.
