ABSTRACT:- Small and Medium Enterprises (SMEs) are pivotal in fostering innovation, stimulating economic growth, and creating job opportunities. The sector has underutilised potential to alleviate emerging economies’ socio-economic challenges effectively. This conceptual study explored integrating blockchain technology with SMEs as a panacea for Africa’s economic development. Based on recent empirical findings and studies on SMEs worldwide, particularly on SMEs in Africa. Findings show that SMEs continue to contribute the most to the Gross Domestic Product (GDP) and account for almost 80% of African jobs, highlighting their significant role as a catalyst for socio-economic advancement. The study recommends that Governments pay more attention to SMEs by implementing suitable, tailored policies that facilitate and empower them to harness their capabilities and advance economic development.

Keywords: Blockchain technology; small and medium enterprises (SMEs); economic development; Challenges