The Small and Medium Enterprises promotion Agency seeks to help small business obtain financing from banks. The agency seeks to go beyond providing advice and technical assistance to effectively accompanying the young enterprises in as they grow.
In a bid to meet this objective that bankers, microfinance institutions, lenders and other financiers meet with officials of Apme to lay the ground work. The meeting was organised on the theme: “What strategy to facilitate access to SME financing?”.
Managing Director of Small and Medium Enterprises promotion Agency, Apme, Jean Marie Louis Badga, said, “We are thinking about what can be brought as an innovative product to support SME. The State, through the Apme, provides non-financial services in terms of the formalization of businesses and in structural them to be competitive. Our role today is therefore to bring supply and demand for financing closer together”
Representatives of banks and financial institutions outline the different procedures to obtain funding and how the banks can help the SMEs. The Head of Business Centre SCB Cameroon Raïssa Wadem told the participants that “The SME must be transparent vis-à-vis the bank, if to get support.
The project and its structure should be profitable, for example, necessary market studies and adequate financing projections should be made. It is based on such information that the bank makes its decision to provide financing for a project.”
Missions of the Apme
The consultation between Apme and financial institutions is a follow up to an information open door day at the agency on Tuesday, 24th April 2018. It was a occasion for the general public especially entrepreneurs to know more about the missions of the agency.
The SME Promotion Agency implements master plan for the development of SME. It also coordinates and channels non-financial support of public authorities to SMEs.
One of the strategic objectives of the agency is to develop an institutional framework for Small and Medium size Enterprises.
With regard to improving access to financing of SMEs’, the approach of Apme is based on the national SME development strategy.