Promoting Made in Cameroon: SMEs Promotion Agency signs tax, customs incentives convention with DB Trading Sarl.

The General Manager of SMEPA, Jean Marie Louis Badga, and the Chief Executive Officer, CEO, of DB Trading Sarl, Pacomes Aymard Keugang Nzeulie, both put pen on paper for their respective institutions. 

The convention, it should be said, falls within the framework of Law No. 2013/004 of 18 April 2013, put in place by government to offer tax and customs reduction opportunities to companies investing in Cameroon. 

Speaking prior to the signing, the General Manager of SMEPA recalled that the institution he is heading was created to support SMEs, especially those investing in the promotion of local products.

He said DB Trading Sarl is just one of several enterprises that is benefiting from the tax, customs and administrative incentives from the state given that SMEPA has signed some 71 conventions so far.

“These incentives are intended to support you in your efforts to create wealth and jobs, guarantee you the permanent support of the State on the path to productivity and competitiveness, and produce quality at best price…,” Badga said.

He reiterated the Head of State’s message to the nation on December 31, 2022, during which President Paul Biya emphasised on the need for government to continue to pay particular attention to the “coordinated implementation of the Import-Substitution Policy and optimal exploitation of the opportunities offered by the African Continental Free Trade Area”.

Badga told the CEO of DB Trading Sarl that the incentives offered in the agreement constitute in reality only part of the support that the government is making available to Cameroonian SMEs through SMEPA.

According to the SMEPA boss, DB Trading Sarl will undertake to respect a number of obligations.

He mentioned the effective implementation of the investment program developed by DB Trading Sarl, valorisation of Cameroon’s raw materials. 

Badga also mentioned giving priority to Cameroonian labour, as well as local expertise and subcontracting, production of an annual activity report among others. He detailed that control missions will carry out visits to the structure.

Enter CEO of DB Trading Sarl

Speaking shortly before signing the convention, the CEO of DB Trading Sarl, Aymard Keugang Nzeulie, said his company, with capital of 700 million FCFA, opted to invest in the agro-food industry because it offers a wide range of advantages including nutrition and food security.

Keugang said it is about diversifying revenue sources, ameliorating living conditions and creating jobs.

“In Cameroon, some agro-foods are still little known because several entrepreneurs adopt artisanal methods of production and producing little quantities and that’s why we have more of imported products in our markets,” he said. 

Keugang said the project is envisaging job creation in order to reduce the level of unemployment, adding that 32 direct jobs will be created and several indirect jobs.

“Now the convention we just sign, we are hoping it is going to allow us to be able to install, implement properly and grow acceptable level, then before actually being able to really establish in the market. The fact that you have this type of boost from the government really gives you the possibility to enter the market, to compete against those already there and be and really push your image forward,” DB Trading Sarl boss stated.

He said from the customs and tax incentives they will benefit from SMEPA, the company intends to grow its capital to 3 billion FCFA by 2027. Keugang said they are not targeting only the Cameroonian market but the Central African sub region as a whole.

Keugang Nzeulie said DB Trading Sarl had been existing for some years but had to actually stop any kind of activity due to a series of challenges they faced.

SMEPA ready to support more enterprises

The General Manager of SMEPA said businesses seeking to benefit such funding could get in touch with their regional services.

“We are present in all regions and offer a diverse range of services. In addition to the Business Creation Formalities Centers present in all regional capitals, the Agency also deploys Business Support Centers (CA-PME) in six regional capitals, namely Yaoundé, Douala, Bafoussam, Bamenda, Garoua and Ngaoundere,” Badga said.