{"id":22048,"date":"2019-10-03T12:25:08","date_gmt":"2019-10-03T12:25:08","guid":{"rendered":"http:\/\/www.odemocratagb.com\/?p=22048"},"modified":"2019-10-03T12:25:36","modified_gmt":"2019-10-03T12:25:36","slug":"opiniao-as-pmes-um-pequeno-gigante-da-economia-africana","status":"publish","type":"post","link":"https:\/\/www.odemocratagb.com\/?p=22048","title":{"rendered":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Este ano, a Ag\u00eancia Francesa de Desenvolvimento financiou um estudo independente sobre \u201cas\u00a0causas de inadimpl\u00eancia\u00a0das PME na \u00c1frica Subsaariana\u201d,\u00a0atrav\u00e9s do exemplo de garantias\u00a0financeiras\u00a0da\u00a0\u201cARIZ\u201d.\u00a0A \u201cAFD\u201d\u00a0trabalha\u00a0h\u00e1 15\u00a0anos nos pa\u00edses em desenvolvimento no financiamento para PMEs,\u00a0por meio de\u00a0mecanismo\u00a0de garantia\u00a0\u201cARIZ\u201d.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">H\u00e1, entretanto, poucos estudos sobre a inadimpl\u00eancia das\u00a0PMEs nos pa\u00edses em desenvolvimento,\u00a0sobretudo\u00a0em\u00a0\u00c1frica. Mas, est\u00e3o\u00a0dispon\u00edveis\u00a0dados diversificados\u00a0de 7.400\u00a0linhas de empr\u00e9stimo garantidas pela\u00a0\u201cARIZ\u201d\u00a0em todo o mundo, a\u00a0\u201cAFD\u201d\u00a0tem\u00a0feito\u00a0uma an\u00e1lise,\u00a0sem precedentes,\u00a0sobre\u00a0as causas de inadimpl\u00eancia das PMEs\u00a0em\u00a0\u00c1frica Subsaariana.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">O estudo concentra-se&nbsp;nos empr\u00e9stimos garantidos pela&nbsp;\u201cARIZ\u201d, na \u00c1frica Subsaariana em geral (86% dos empr\u00e9stimos garantidos) e, em particular, no Senegal, Costa do Marfim, Camar\u00f5es e Madagascar; de fato, esses quatro pa\u00edses representam 60% dos empr\u00e9stimos garantidos&nbsp;pela&nbsp;\u201cARIZ\u201d,&nbsp;constituem&nbsp;78% das garantias&nbsp;e quase 65% dos valores totais de remunera\u00e7\u00e3o. O estudo se concentra apenas nas PMEs da \u00c1frica Subsaariana e se adapta em cada pa\u00eds \u00e0 defini\u00e7\u00e3o de PME dada pelas institui\u00e7\u00f5es financeiras parceiras da \u201cARIZ\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Segundo\u00a0este mesmo estudo, as\u00a010\u00a0principais causas de inadimpl\u00eancia de empr\u00e9stimos para PMEs,\u00a0mais citadas,\u00a0em 10% dos casos s\u00e3o:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>I.\u00a0<\/strong>Problemas relacionados a fornecedores, subcontratados ou clientes da empresa (36% dos casos);<\/li><li><strong>II.\u00a0<\/strong>M\u00e1s escolhas gerenciais que impactam\u00a0a\u00a0gest\u00e3o, organiza\u00e7\u00e3o, efici\u00eancia e lucros da empresa (29% dos casos);<\/li><li><strong>III.\u00a0<\/strong>A modifica\u00e7\u00e3o das caracter\u00edsticas do mercado durante o projeto (evolu\u00e7\u00e3o de mercados potenciais, como concorr\u00eancia, consumidores, choques de demanda, menores vendas, etc) (23% dos casos);<\/li><li><strong>IV.\u00a0<\/strong>Escolhas financeiras e sistemas de financiamento (18% dos casos);<\/li><li><strong>V.\u00a0<\/strong>O ambiente financeiro;<\/li><li><strong>VI.\u00a0<\/strong>Escassez de habilidades dos\u00a0gerentes\u00a0da empresa;<\/li><li><strong>VII.\u00a0<\/strong>Problemas relacionados\u00a0\u00e0s\u00a0infraestruturas\u00a0locais ou dificuldades de funcionamento do ecossistema local;<\/li><li><strong>VIII.\u00a0<\/strong>O conhecimento do benefici\u00e1rio final da exist\u00eancia de um mecanismo de garantia;<\/li><li><strong>IX.\u00a0<\/strong>O n\u00edvel de risco assumido pelo banco;<\/li><li><strong>X.\u00a0<\/strong>O ambiente pol\u00edtico e social&#8230;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">No entanto,&nbsp;os bancos oferecem poucas linhas de cr\u00e9dito&nbsp;que s\u00e3o,&nbsp;efetivamente,&nbsp;adaptadas \u00e0s necessidades das PME: 70% s\u00e3o empr\u00e9stimos de curto prazo (menos de um ano) e menos de 2% possuem empr\u00e9stimos com prazo de vencimento superior a 10 anos; no entanto, as PME&nbsp;necessitatam&nbsp;de&nbsp;cr\u00e9dito de longo prazo para amortizarem&nbsp;seus investimentos.&nbsp;As dificuldades de acesso ao cr\u00e9dito,&nbsp;apresentadas acima,&nbsp;s\u00e3o&nbsp;motivadas pelos crit\u00e9rios de sele\u00e7\u00e3o dos bancos.&nbsp;Os bancos&nbsp;alegam&nbsp;que aprendem&nbsp;com&nbsp;pr\u00f3prios\u201cerros\u201d&nbsp;e&nbsp;se acautelam&nbsp;nos&nbsp;seus procedimentos de aloca\u00e7\u00e3o&nbsp;de fundos,&nbsp;de acordo com&nbsp;os padr\u00f5es que&nbsp;devem ser observados.&nbsp;Os instrumentos de garantia s\u00e3o uma solu\u00e7\u00e3o usada por alguns&nbsp;credores para&nbsp;fazer face&nbsp;\u00e0s preocupa\u00e7\u00f5es dos bancos&nbsp;em relac\u00e3o&nbsp;ao risco de empr\u00e9stimo&nbsp;para PMEs. Na sua forma mais simples, uma garantia de cr\u00e9dito \u00e9 um contrato no qual um garante compartilha o risco de inadimpl\u00eancia do mutu\u00e1rio com o banco.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Para os autores do estudo, as PMEs s\u00e3o sens\u00edveis\u00a0a problemas relacionados\u00a0com osatrasos de pagamento por parte dos\u00a0seus\u00a0clientes, nomeadamente\u00a0(o Estado) e sofrem com a falta de estrutura\u00e7\u00e3o e a falta de habilidades gerenciais que levam a m\u00e1s escolhas (diversifica\u00e7\u00e3o excessiva) ou escolhas financeiras (montante do empr\u00e9stimo muito alto, custo\u00a0do servi\u00e7o da d\u00edvida muito alto).<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>As PMEs\u00a0s\u00e3o sens\u00edveis a problemas relacionados \u00e0s\u00a0infraestruturas\u00a0locais (rodovias e energia, com falha pontual ou cr\u00f4nica), mas tamb\u00e9m a crises\u00a0pol\u00edticas.<\/li><li>As crises ambientais raramente s\u00e3o mencionadas\u00a0nos riscos,\u00a0hoje, exceto em Madagascar.\u00a0<\/li><li>Em menor grau, o conhecimento do cliente sobre uma garantia\u00a0\u201cARIZ\u201d\u00a0e o n\u00edvel de risco assumido pelo banco s\u00e3o dois fatores recorrentes de inadimpl\u00eancia.<\/li><li>As pol\u00edticas de\u00a0apoio\u00a0\u00e0s PME (desde a acelera\u00e7\u00e3o dos procedimentos de registo da\u00a0empresa at\u00e9 a cria\u00e7\u00e3o de registos de garantia) s\u00e3o cruciais para o bom funcionamento\u00a0das atividades\u00a0das PME e, ainda assim, fracassam nos pa\u00edses do estudo.\u00a0<\/li><li>O\u00a0\u201cfeedback\u201d\u00a0entre os governos e as PME sobre as a\u00e7\u00f5es de apoio adotadas \u00e9 frequentemente insuficiente.<\/li><li>V\u00e1rios fatores afetam o risco de inadimpl\u00eancia da empresa: montante do empr\u00e9stimo, natureza do empr\u00e9stimo, tipo de taxa, porcentagem do empr\u00e9stimo garantido,\u00a0tipo de investimento, idade da\u00a0empresa, volume de neg\u00f3cios da empresa.<\/li><li>Em todos os empr\u00e9stimos tomados em conjunto, a primeira inadimpl\u00eancia das empresas ocorreu ap\u00f3s 40% da dura\u00e7\u00e3o empr\u00e9stimo, o percentual garantido n\u00e3o \u00e9 discriminat\u00f3rio nem o valor da rela\u00e7\u00e3o empr\u00e9stimos \/ empr\u00e9stimos.<\/li><li>O risco de\u00a0\u201cjogo\u00a0negocial\u201d\u00a0\u00e9 muito alto para empresas que ainda n\u00e3o s\u00e3o clientes dos\u00a0bancos: esse risco aumenta para 64%. No entanto, esse risco \u00e9 reduzido significativamente quando o prazo do empr\u00e9stimo\u00a0situar-se\u00a0entre 12 e 24 meses.<\/li><li>Quando uma empresa j\u00e1 \u00e9 cliente do banco, o tamanho da empresa est\u00e1 discriminando o risco\u00a0de empr\u00e9stimo: empresas com menos de 5 funcion\u00e1rios (9% da amostra geral) t\u00eam uma taxa mais alta (27%) do que aqueles com mais de 5 funcion\u00e1rios (88% da amostra geral, 5% de taxa de inadimpl\u00eancia).<\/li><li>Empr\u00e9stimos \u201cpequenos\u201d (menos de\u00a0at\u00e9\u00a0\u20ac\u00a0300, geralmente como garantias de carteira) e empr\u00e9stimos \u201cmaiores\u201d (acima de \u20ac 300, geralmente como garantias individuais) s\u00e3o alocados de maneira muito distinta. Empr\u00e9stimos maiores s\u00e3o\u00a0obviamente\u00a0mais sens\u00edveis \u00e0s mudan\u00e7as do mercado.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u00c9&nbsp;interessante notar que foi observada uma discrep\u00e2ncia entre os discursos de interlocutores e os resultados do estudo estat\u00edstico: se considerarmos&nbsp;que&nbsp;a popula\u00e7\u00e3o total de empresas cobertas pela garantia da&nbsp;\u201cARIZ\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A iniciativa \u201cAFD\u201d&nbsp;grupo&nbsp;\u201cAgence Fran\u00e7aise de D\u00e9veloppement\u201d&nbsp;que&nbsp;lan\u00e7ou,&nbsp;em 2019,a iniciativa&nbsp;\u201cChoose Africa\u201d,&nbsp;como&nbsp;a&nbsp;\u201cporta de entrada\u201d&nbsp;para todas as solu\u00e7\u00f5es de financiamento e&nbsp;de&nbsp;apoio&nbsp;de&nbsp;propostas pela&nbsp;\u201cAFD\u201d,&nbsp;e sua subsidi\u00e1ria dedicada ao financiamento de atores privados&nbsp;\u201cProparco\u201d, atrav\u00e9s de parceiros locais. A&nbsp;\u201cChoose Africa\u201d&nbsp;dedicar\u00e1 mais de 2,5 bilh\u00f5es de euros ao financiamento de&nbsp;\u201cstart-ups\u201d, PMEs at\u00e9 2022 &#8211;&nbsp;www.choose-africa.com.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Este financiamento inclui garantias dadas \u00e0s institui\u00e7\u00f5es financeiras para cobrir parte&nbsp;de seus riscos para as PME que, eventualmente,&nbsp;podem financiar&nbsp;aos&nbsp;particulares,&nbsp;atrav\u00e9s do mecanismo de&nbsp;partilha de riscos da&nbsp;\u201cARIZ\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Assim&nbsp;sendo, o&nbsp;mecanismo de&nbsp;\u201cARIZ\u201d&nbsp;permitir\u00e1&nbsp;que as institui\u00e7\u00f5es financeiras tenham uma garantia na perda final para cobrir 50% a 75%&nbsp;de&nbsp;empr\u00e9stimos, quer aos&nbsp;particulares&nbsp;ou&nbsp;carteira de empr\u00e9stimos a PME.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finalmente, vale salientar que as pequenas e m\u00e9dias empresas (PME) representam 90% do tecido empresarial&nbsp;africano e cerca&nbsp;de 60% dos empregos em todo continente.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Por: Santos Fernandes<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Refer<\/strong><strong>\u00ea<\/strong><strong>ncia&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Financial Afrik &#8211;&nbsp;\u201cLes principales causes de d\u00e9faut des PME en Afrique\u201d&nbsp;&nbsp;acesso a 25 de Setembro de 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Este ano, a Ag\u00eancia Francesa de Desenvolvimento financiou um estudo independente sobre \u201cas\u00a0causas de inadimpl\u00eancia\u00a0das PME na \u00c1frica Subsaariana\u201d,\u00a0atrav\u00e9s do&#8230;<\/p>\n","protected":false},"author":4,"featured_media":11565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,25],"tags":[],"class_list":["post-22048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inicio","category-opinioes","wpcat-6-id","wpcat-25-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.odemocratagb.com\/?p=22048\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB\" \/>\n<meta property=\"og:description\" content=\"Este ano, a Ag\u00eancia Francesa de Desenvolvimento financiou um estudo independente sobre \u201cas\u00a0causas de inadimpl\u00eancia\u00a0das PME na \u00c1frica Subsaariana\u201d,\u00a0atrav\u00e9s do...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.odemocratagb.com\/?p=22048\" \/>\n<meta property=\"og:site_name\" content=\"O Democrata GB\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jornaldaguinebissau\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-03T12:25:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-03T12:25:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"344\" \/>\n\t<meta property=\"og:image:height\" content=\"395\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jornal Odemocrata\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jornal Odemocrata\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. tempo de leitura\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048\"},\"author\":{\"name\":\"Jornal Odemocrata\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#\\\/schema\\\/person\\\/c5e683adeaf9b557e57cf1a8a591b0c0\"},\"headline\":\"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA\",\"datePublished\":\"2019-10-03T12:25:08+00:00\",\"dateModified\":\"2019-10-03T12:25:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048\"},\"wordCount\":1233,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/IMG_0742.jpg\",\"articleSection\":[\"Atualidade\",\"Opini\u00f5es\"],\"inLanguage\":\"pt-BR\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048\",\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048\",\"name\":\"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/IMG_0742.jpg\",\"datePublished\":\"2019-10-03T12:25:08+00:00\",\"dateModified\":\"2019-10-03T12:25:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#breadcrumb\"},\"inLanguage\":\"pt-BR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"pt-BR\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#primaryimage\",\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/IMG_0742.jpg\",\"contentUrl\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/IMG_0742.jpg\",\"width\":344,\"height\":395},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/?p=22048#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"In\u00edcio\",\"item\":\"https:\\\/\\\/www.odemocratagb.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#website\",\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/\",\"name\":\"O Democrata GB\",\"description\":\"Jornal O Democrata GB\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.odemocratagb.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"pt-BR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#organization\",\"name\":\"O Democrata GB\",\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"pt-BR\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2026\\\/04\\\/logo-odemocratagb.png\",\"contentUrl\":\"https:\\\/\\\/www.odemocratagb.com\\\/wp-content\\\/uploads\\\/2026\\\/04\\\/logo-odemocratagb.png\",\"width\":1250,\"height\":327,\"caption\":\"O Democrata GB\"},\"image\":{\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/jornaldaguinebissau\",\"https:\\\/\\\/www.instagram.com\\\/odemocratagb\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.odemocratagb.com\\\/#\\\/schema\\\/person\\\/c5e683adeaf9b557e57cf1a8a591b0c0\",\"name\":\"Jornal Odemocrata\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"pt-BR\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g\",\"caption\":\"Jornal Odemocrata\"},\"sameAs\":[\"http:\\\/\\\/odemocratagb.com\"],\"url\":\"https:\\\/\\\/www.odemocratagb.com\\\/?author=4\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.odemocratagb.com\/?p=22048","og_locale":"pt_BR","og_type":"article","og_title":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB","og_description":"Este ano, a Ag\u00eancia Francesa de Desenvolvimento financiou um estudo independente sobre \u201cas\u00a0causas de inadimpl\u00eancia\u00a0das PME na \u00c1frica Subsaariana\u201d,\u00a0atrav\u00e9s do...","og_url":"https:\/\/www.odemocratagb.com\/?p=22048","og_site_name":"O Democrata GB","article_publisher":"https:\/\/www.facebook.com\/jornaldaguinebissau","article_published_time":"2019-10-03T12:25:08+00:00","article_modified_time":"2019-10-03T12:25:36+00:00","og_image":[{"width":344,"height":395,"url":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg","type":"image\/jpeg"}],"author":"Jornal Odemocrata","twitter_card":"summary_large_image","twitter_misc":{"Escrito por":"Jornal Odemocrata","Est. tempo de leitura":"6 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.odemocratagb.com\/?p=22048#article","isPartOf":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048"},"author":{"name":"Jornal Odemocrata","@id":"https:\/\/www.odemocratagb.com\/#\/schema\/person\/c5e683adeaf9b557e57cf1a8a591b0c0"},"headline":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA","datePublished":"2019-10-03T12:25:08+00:00","dateModified":"2019-10-03T12:25:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048"},"wordCount":1233,"commentCount":0,"publisher":{"@id":"https:\/\/www.odemocratagb.com\/#organization"},"image":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048#primaryimage"},"thumbnailUrl":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg","articleSection":["Atualidade","Opini\u00f5es"],"inLanguage":"pt-BR","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.odemocratagb.com\/?p=22048#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.odemocratagb.com\/?p=22048","url":"https:\/\/www.odemocratagb.com\/?p=22048","name":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA - O Democrata GB","isPartOf":{"@id":"https:\/\/www.odemocratagb.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048#primaryimage"},"image":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048#primaryimage"},"thumbnailUrl":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg","datePublished":"2019-10-03T12:25:08+00:00","dateModified":"2019-10-03T12:25:36+00:00","breadcrumb":{"@id":"https:\/\/www.odemocratagb.com\/?p=22048#breadcrumb"},"inLanguage":"pt-BR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.odemocratagb.com\/?p=22048"]}]},{"@type":"ImageObject","inLanguage":"pt-BR","@id":"https:\/\/www.odemocratagb.com\/?p=22048#primaryimage","url":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg","contentUrl":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2017\/01\/IMG_0742.jpg","width":344,"height":395},{"@type":"BreadcrumbList","@id":"https:\/\/www.odemocratagb.com\/?p=22048#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"In\u00edcio","item":"https:\/\/www.odemocratagb.com\/"},{"@type":"ListItem","position":2,"name":"Opini\u00e3o: AS PME\u2019s \u2013 UM \u201cPEQUENO\u201d GIGANTE DA ECONOMIA AFRICANA"}]},{"@type":"WebSite","@id":"https:\/\/www.odemocratagb.com\/#website","url":"https:\/\/www.odemocratagb.com\/","name":"O Democrata GB","description":"Jornal O Democrata GB","publisher":{"@id":"https:\/\/www.odemocratagb.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.odemocratagb.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"pt-BR"},{"@type":"Organization","@id":"https:\/\/www.odemocratagb.com\/#organization","name":"O Democrata GB","url":"https:\/\/www.odemocratagb.com\/","logo":{"@type":"ImageObject","inLanguage":"pt-BR","@id":"https:\/\/www.odemocratagb.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2026\/04\/logo-odemocratagb.png","contentUrl":"https:\/\/www.odemocratagb.com\/wp-content\/uploads\/2026\/04\/logo-odemocratagb.png","width":1250,"height":327,"caption":"O Democrata GB"},"image":{"@id":"https:\/\/www.odemocratagb.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/jornaldaguinebissau","https:\/\/www.instagram.com\/odemocratagb"]},{"@type":"Person","@id":"https:\/\/www.odemocratagb.com\/#\/schema\/person\/c5e683adeaf9b557e57cf1a8a591b0c0","name":"Jornal Odemocrata","image":{"@type":"ImageObject","inLanguage":"pt-BR","@id":"https:\/\/secure.gravatar.com\/avatar\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/09cb6b76eee5612f7cfca9e0089e2f17141d417bd034905eee842945c87fd87f?s=96&d=mm&r=g","caption":"Jornal Odemocrata"},"sameAs":["http:\/\/odemocratagb.com"],"url":"https:\/\/www.odemocratagb.com\/?author=4"}]}},"_links":{"self":[{"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/posts\/22048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22048"}],"version-history":[{"count":1,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/posts\/22048\/revisions"}],"predecessor-version":[{"id":22049,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/posts\/22048\/revisions\/22049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=\/wp\/v2\/media\/11565"}],"wp:attachment":[{"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.odemocratagb.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}