Mashatile Calls for Bold SME Reforms to Drive Global Growth, Job Creation

South Africa’s Deputy President Paul Mashatile has issued a strong call for the global community to elevate small and medium enterprises (SMEs) as the backbone of economic transformation, job creation, and sustainability. Speaking during the closing session of the inaugural Global SME Ministerial Meeting in Boksburg, Gauteng, Mashatile emphasised the urgency of empowering SMEs as a critical pathway to inclusive growth, especially for youth, women, and marginalised communities.

SMEs as Pillars of Economic Resilience

Deputy President Mashatile underscored the central role SMEs play in economic development across the world. He noted that SMEs are key to reducing unemployment due to their agility in adapting to market shifts and their capacity for innovation.

“Speaking of job creation, SMEs are significant contributors to economic development and job creation globally. We can attribute their relevance in reducing unemployment to their ability to react swiftly to market changes,” Mashatile stated.

He reiterated that supporting SMEs is not optional, but essential for building resilient economies—especially in the wake of volatile global economic shifts.

A Platform for Partnership and Policy Innovation

The Global SME Ministerial Meeting, the first of its kind, brought together government ministers, trade envoys, and development experts from across the world. It served as a strategic platform to craft cooperative frameworks that address barriers to SME success.

Mashatile urged participants to move decisively to eliminate regulatory hurdles hampering cross-border trade and investment. He called for robust local value chains and localised production ecosystems that prioritise micro, small, and medium enterprises (MSMEs).

“This can be achieved by ensuring that the Green Economy Transition is supported by clear green industrialisation policies,” he added.

A Green and Digital Future for SMEs

The Deputy President highlighted the importance of driving green transitions and digital transformation across the SME sector. The Ministerial Meeting’s core themes revolved around:

• Enhancing access to finance

• Boosting digital inclusion

• Promoting environmentally sustainable business practices

These elements, Mashatile noted, are critical to ensuring SMEs are future-ready and resilient in a fast-changing global economy.

South Africa’s G20 Vision: Championing the Global South

Mashatile affirmed South Africa’s G20 Presidency theme—“Solidarity, Equality, Sustainability”—as a rallying point for development-focused collaboration. He positioned the Ministerial Meeting as a prelude to the G20 Leaders’ Summit in November, asserting that inputs from the Global South would shape key G20 priorities.

“We have heard your voices and will ensure that we champion the issues you have raised in the broader G20 processes,” he assured participants.

He also lauded the United Nations’ role in promoting multilateralism and condemned the rise of unilateral actions that threaten global cohesion.

“This relationship [with the UN] is critical in this challenging period of abrupt shifts towards unilateralism, which jeopardise the sustainability of our respective countries and the world,” he said.

Commitment to Multilateral Agreements and African Integration

A “Call to Action” from the meeting reaffirmed global support for pivotal international accords, including:

• The Sustainable Development Goals (SDGs)

• The Paris Agreement on Climate Change

• The Pact for the Future

• The Global Digital Compact

• The Declaration on Future Generations

• The G20 development agenda

South Africa’s support for regional economic integration through the Southern African Customs Union (SACU) and the African Continental Free Trade Area (AfCFTA) was highlighted as a powerful enabler of African entrepreneurship.

“The Free Trade Area Agreement can significantly enhance Africa’s entrepreneurial landscape by reducing trade barriers and increasing market access,” said Mashatile.

Strengthening Trade and Economic Diplomacy

A concurrent meeting of Trade Promotion Organisations examined the consequences of trade protectionism and global supply chain disruptions. Mashatile called for more proactive trade diplomacy, and emphasised the importance of bilateral and multilateral trade agreements in spurring global economic growth.

“We must enhance our capabilities to strengthen trade and economic diplomacy,” he said.

A Shared Commitment for a Thriving SME Ecosystem

The Deputy President closed the forum on an optimistic note, urging collective resolve and global cooperation to help SMEs realise their full potential.

“This inaugural Global SME Ministerial Meeting could not have come at a better time,” he affirmed.

With renewed global commitments in hand, the meeting ended with clear direction: to remove barriers, support innovation, and champion multilateralism—ensuring that SMEs are not just included in development plans, but placed at the centre of them.