Empathy, adaptability key to SMEs across Africa

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A new report by the Association of Chartered Certified Accountants (ACCA) has shown that empathy, adaptability, and the human touch are vital to SMEs navigating through today’s dynamic and challenging business landscape.

George Njari, Head of Eastern Africa at ACCA, said: “In the dynamic entrepreneurial landscape of Africa, SMEs play a vital role in driving economic growth and creating employment opportunities – but access to markets, funding, and maintaining relevance amidst rapid changes are pressing challenges. Finance professionals ignite entrepreneurial success by deeply understanding SMEs’ business models – and advising on market strategies, pricing, and global expansion to maintain relevance.”

Also, Zaronina-Kirillova, who is the ACCA’s Head of SME Professional Insights, said “In a world where SMEs are confronted with rapid change, from navigating digital transformation and sustainability to managing talent shortages and inflation, the role of accountancy professionals as empathetic and indispensable partners has never been more vital.”

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“Accountants, with their unique blend of financial expertise, strategic vision, and human understanding, are the listeners, the problem-solvers, and the trusted advisors who stand alongside entrepreneurs, offering not just financial guidance, but also emotional support and a deep understanding of the human stories behind the businesses they serve. This collection of stories celebrates successes from around the world.”

The report, Accountants at the Heart of SME Resilience and Growth, includes a range of stories from around the world – in written and video formats – designed to be a useful resource for SMEs and the accountancy professionals who support them. It also includes a toolkit offering practical tools and insights on a range of topics of interest to SMEs.

ACCA is hosting a webinar on June 27, as part of the support for the launching. It will provide a platform for discussion and deeper insights into the toolkit.

Participants will have the opportunity to engage with experts, ask questions, and learn more about the strategic role of accountancy professionals in empowering SMEs.