The Minister of Small and Medium Sized Enterprises, Social Economy and Handicraft, Laurent Serge Etoundi Ngoa inaugurated the first centre for Small and Medium Seized Enterprises SMEs in Douala.
The Centre is an initiative of the Cameroon Employers Association, GICAM. It aims at promoting the growth of Small and Medium sized enterprises in Cameroon.
The Centre is also expected to provide solutions to SMEs , facilitate the acquisition of investment capital for SMEs and guarantee capacity building for entrepreneurs.
Some Facts about SMEs in Cameroon
Statistics from the Cameroon Employers Association GICAM, reveals that;
# 30% of government taxes come from Small and Medium Medium Sized Enterprises
# Small and Medium Sized Enterprises also provide 40% of Cameroon’s Gross Domestic Product
# About 40% of Small and Medium Sized Enterprises in Cameroon close down barely three years after due to financial crisis
Some of these Small and Medium Sized Enterprises are strangled financially because of huge government debt.
However, a recent government decision to settle internal debt will see some of these SMEs receive part of the 70 billionFCFA allotted for that purpose by January 2019.
In 2013, Minister Laurent Serge Etoundi Ngoa encouraged the Japanese International Corporation Agency (JICA) to create development centers for SMEs in Cameroon’s ten regions.
The same year, the second edition of the PMExchange international Forum held in Douala.
The Minister says government will create more centers in future.
Kathy Neba Sina