Wilfred Enow Agbor
Yaounde, Cameroon
Small and medium size enterprises (SMEs) may have a course to smile in the days ahead. This is with respect to a forum organized by the Cameroon Development Agency known in French as Agence de Development Economique (ADE).
With such a forum, ADE seeks to create a platform on which financial institutions, banks, foreign aid providers can work together to encourage small and medium size enterprises (SME) to develop. ADE aims to orientate businesses on how they can obtain loan from banks and financial institutions at a very low interest rate, adapt financial programs based on business opportunities available among SMEs and encourage the consumption of products and services produced by SMEs within the country. ADE seeks to bring SMEs into the lamp light and encourage them to become competitive in the global market.
To support this venture the head of state, President Paul Biya signed an aid package with the sum of 3 billion francs CFA. This subvention stands to increase the production rate of the small and medium size enterprises.
The Minister of Economy Planning and Regional Development, Emmanuel Ndjoumessi said that the intension of the government, through President Biya, is to support these enterprises to create employment. According to the Minister, an agricultural enterprise, for example, that processes and transports agricultural products will need a driver and other workers to complete the food transportation process to the market. In such a situation, many people will be involved and there by creating employment opportunities.
In order for SMEs to benefit from this government program, the Minister said, they must meet certain conditions: An enterprise must be registered and it must be at the production stage and must exhibit some of its already processed products. However, those who have not started producing any products; once they can prove that the assistance accorded them will help to commence their activities, they will equally qualify.
Laura Ndoping, a representative of ADE said that the agency has requested foreign aid to support those who may not be amongst the beneficiaries. Such funds will be given directly to the enterprises with low interest rate. In order to benefit from the funds, they have to get registered with the agency.
At the end of the forum the ADE called for every actor to play its role so as to enable the firms forge ahead and accomplish their projects. The government as the principal actor should facilitate access to information. Financial and technical partners should develop the structures of SMEs to improve working conditions. Notaries when drafting article of association or contracts, should do so in the interest of the SMEs.
The forum was organized under the distinguished patronage of the Prime Minister E Yang Philemon. Present at the forum was the minister in charge of Small and Medium size enterprise Emmanuel Ndjoumessi, the Minister of Economy, Planning and Regional Development, Laurent Serge Etoundi, the Divisional Delegate for Small and Medium Enterprises, Mrs Agbor Tambe Martina Eyong, the representative from ADE, Laura Ndoping, presidents of the Small and Medium enterprises.
Official partners to this event are the Ministry of Economy Planning and Regional Development, Cameroon Radio Television, African Guarantee Funds for Economic Cooperation (Fonds Africain de Guarantee et de Cooperation Economique). Equally present at the forum were official sponsors like FEICOM Cameroon and the Centre de Formalites de Creation D’Entreprises (cfce). This agency, CFCE, helps individuals register a business in Cameroon within 72 hours, according to its website at http://www.cfce.cm/.
