Sierra Leone Small and Medium Enterprises Development Agency Act, 2016
An Act establishing an agency to promote and develop small and medium-sized enterprises (SMEs) in Sierra Leone.
Summary
The Sierra Leone Small and Medium Enterprises Development Agency Act, 2016 establishes the Small and Medium Enterprises Development Agency (SMEDA) to promote and support the development of small and medium-sized enterprises, a key source of employment and growth in Sierra Leone.
The Act provides for the Agency's establishment, governance and functions, including developing and coordinating SME policy, providing business development services and support to SMEs, facilitating their access to finance, markets and skills, and promoting entrepreneurship and formalisation. It aims to strengthen the SME sector and private-sector-led growth.
Main provisions
- Establishes the Small and Medium Enterprises Development Agency.
- Provides for its governance and functions.
- Develops and coordinates SME policy.
- Provides business development services and support to SMEs.
- Facilitates SMEs' access to finance, markets and skills.
- Promotes entrepreneurship and business formalisation.