Support initiatives are growing for Small, Medium Size Enterprises

According to the National Institute of Statistics (NIS), public-private actors propose solutions for the sustainable inclusion of these structures in the economic fabric and their optimal contribution to the national gross domestic product. The preliminary report of the results of the second general census of enterprises (RGE-2) produced by the National Institute of Statistics reveals that only 6.3% of business leaders use banks to finance their activities.

The majority draws on own funds or tontines, a system of community aid. In addition, the tax system is for 58.8% of the population studied, an obstacle to the development of entrepreneurship in Cameroon. An inventory that makes corporate financing a focus of priority effort in the overall policy, which aims to make small and medium-sized enterprises more efficient. According to the Bank of Small and Medium Enterprises, these economic structures constitute more than 90% of the national economic fabric and contribute up to 35% to the Gross Domestic Product.

Priority to access to financing

With the Agency for the Promotion of Small and Medium Enterprises initiated since 2013, the national SME promotion policy now revolves around the promotion of investment, the provision of assistance and facilitation services, the creation of ‘an ecosystem of entrepreneurs by networking actors in the sector among others. The ultimate goal is to make these SMEs efficient, innovative, competitive and responsible. Since 2015, the SME Bank has been working to facilitate access to finance. It thus offers several financing models at advantageous interest rates that adapt to the specificities of entrepreneurs. At the beginning of the year, the BCPME, for example, had declared to have a line of credit of 76 billion CFA francs for companies eligible for the loan. In addition, the support it offers SMEs through its information monitoring system allows them to benefit from tax exemptions for a better return on investment.

Also, the Cameroonian Employers’ Group (GICAM) has set up a training structure. The Small and Medium Enterprise Development Center (CDPME), inaugurated in the city of Douala in Cameroon on April 18, 2018, aims to support and support entrepreneurship for local and diaspora actors. A true reference center for the emergence of a generation of entrepreneurs mastering the workings of economic intelligence. For observers, these initiatives, which aim to facilitate access to financing, must be accompanied by other measures against corruption, administrative delays and lack of infrastructure, all of which are obstacles to the growth of SMEs. For their part, these small and medium-sized companies must win the bet to enter the global economy, which is characterized by the digitalization of offers and services.

According to the National Institute of Statistics (NIS), public-private actors propose solutions for the sustainable inclusion of these structures in the economic fabric and their optimal contribution to the national gross domestic product.

Priority to access to financing

With the Agency for the Promotion of Small and Medium Enterprises initiated since 2013, the national SME promotion policy now revolves around the promotion of investment, the provision of assistance and facilitation services, the creation of ‘an ecosystem of entrepreneurs by networking actors in the sector among others. The ultimate goal is to make these SMEs efficient, innovative, competitive and responsible. Since 2015, the SME Bank has been working to facilitate access to finance. It thus offers several financing models at advantageous interest rates that adapt to the specificities of entrepreneurs. At the beginning of the year, the BCPME, for example, had declared to have a line of credit of 76 billion CFA francs for companies eligible for the loan. In addition, the support it offers SMEs through its information monitoring system allows them to benefit from tax exemptions for a better return on investment.

Also, the Cameroonian Employers’ Group (GICAM) has set up a training structure. The Small and Medium Enterprise Development Center (CDPME), inaugurated in the city of Douala in Cameroon on April 18, 2018, aims to support and support entrepreneurship for local and diaspora actors. A true reference center for the emergence of a generation of entrepreneurs mastering the workings of economic intelligence. For observers, these initiatives, which aim to facilitate access to financing, must be accompanied by other measures against corruption, administrative delays and lack of infrastructure, all of which are obstacles to the growth of SMEs. For their part, these small and medium-sized companies must win the bet to enter the global economy, which is characterized by the digitalization of offers and services.

Emmanuel Ngota

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