AEA tasks MSMEs on adoption of technology

The Abuja Enterprise Agency (AEA) has said the use of technology by Small and Medium Enterprises (SMEs) would spur growth in the business.

The Managing Director/CEO of the agency, Malam Shehu Abdulkadir, during the eighth edition of its Business 360 degree yesterday in Abuja, noted that many MSMEs experienced contraction in growth due to restrictions to curb the spread of COVID-19 but others experienced exponential growth with the adoption of technology.

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“Technology is a driver of growth and would spur MSMEs to compete in a global economy, especially in developing countries where they are exposed to intense competition due to the accelerated process of globalization,” he said.

Abdulkadir, however, admitted that the MSMEs faced constraints in resources needed for better innovative economic performance that also incapacitates their ability to compete in the global market.