Building an African economic framework that unites financing, investment, expertise, technology, and commercial markets is the core objective of the continental SME fund, Ubuntu Susu, whose leadership and governance structure was announced Tuesday by the Pan-African Association for Small and Medium Enterprises (AAASME). The fund, chaired by Nigeria with Algeria serving as vice-chair, will be officially launched in November 2026 at the African Union headquarters in Addis Ababa, Ethiopia.
This continental initiative aims to establish a fresh African mechanism that extends beyond mere funding to enhance the capabilities of SMEs and startups, foster innovation and entrepreneurship, and streamline access to capital, commercial outlets, technologies, and specialized skills, AAASME stated Tuesday in an official release. The inaugural meeting brought together 27 key figures and delegates representing roughly twenty nations, reflecting the initiative’s scope and the expanding interest it generates.
Nigeria holds the presidency, while Algeria assumes the vice-presidency through the president of the Arab-African Center for Investment and Development (CAAID), Amine Mohamed Boutalbi.
“This structural arrangement sends an important message regarding the commitment to establish inclusive African leadership, bringing together the continent’s diverse regions and leveraging their skills and resources to serve the private sector and small and medium enterprises,” the pan-African SME organization noted. It added that this governing body relies on prominent African figures from all geographic zones “within a strategic vision rooted in African integration and the mutual exchange of expertise, assets, and economic opportunities.”
Algerian Expertise Driving Continental Ambitions
The role of Algeria within the Ubuntu Susu fund was underscored by the association as aligning with “a expanding domestic track record in backing SMEs, startups, innovation, and venture creation, alongside refining financial instruments, mentoring, and encouraging young founders to transform ideas into scalable enterprises.”
“Through its leadership role in this initiative, Algeria intends to support knowledge sharing, technology transfer, skills building, and closer alignment between Algerian firms and their continental counterparts, opening new horizons for collaboration across investment, exports, innovation, and digital transformation,” the statement added. The overarching vision of Ubuntu Susu remains centered on constructing an African economic network blending finance, investment, technical knowledge, technology, and market access.
This structure aims to enable African ventures to transition “from idea to project, from project to enterprise, from enterprise to market, and from domestic markets to continental and global arenas.”
According to the same source, Ubuntu Susu operates under a distinct motto: “African Solutions to African Problems.”
Driven by the belief that the continent requires more than basic funding, “Ubuntu Susu seeks to operate as a hub consolidating African capital, African expertise, African innovation, and African markets.”