At commemoration of Small and Medium Enterprises Day: SMEs minister hints policy to foster industrialisation imminent.

The ceremony was held on June 27, in Yaounde on the theme: “Sustainable and inclusive industrialisation: Role and contribution of micro-SMEs”.

Speaking during the event, Minister Bassilekin III emphasised that the government is committed to spotlight initiatives that showcase SMEs, give them visibility, encourage local innovators, transformers of agricultural produce and create opportunities for their expansion.

He said the government has priority sectors, notably agro industry and local transformation of agricultural produce, wood processing and textile, which can rapidly contribute to the industrialisation of the country.

“Micro SMEs as you know account for nearly 98% of our entrepreneurial ecosystem, so we have to ensure that necessary conditions, instruments are put in place and developed in a sustainable way that will permit these SMEs,” Bassilekin III told the press.

He added that through debates, SME stakeholders will examine the obstacles to the implementation of a sustainable and inclusive industrialisation policy in Cameroon and brainstorm on ways of removing them, so as to increase the role and contribution of micro-SMEs to national growth and development.

Theme of fourth edition explained

Minister Bassilekin III pointed out that for a country like Cameroon, resolutely committed to industrialisation, the theme of the 4th edition addresses head-on the issue of industrialisation of the Cameroonian economy, which is fully rooted in the priorities defined both by the NDS30 and by the Head of State.

He said the Head of State has instructed the Government to implement a Three-Year Integrated Import Substitution Plan, 2024-2026, which is one of the key objectives to help reduce the impact of imports on Cameroon’s trade balance. 

“The aim is to unite the energies of all players in the entrepreneurial ecosystem in order to meet the challenge of industrialisation, which should enable the government to fully implement its import-substitution policy,” the SMEs minister said.

On his part, the Coordinator of United Nations, UN, Systems in Cameroon, Raymond Tavares, said through the 4th edition, they will draw the attention of the main stakeholders in the entrepreneurial ecosystem in Cameroon as well as the general public to the contribution of micro SMEs in achieving the UN Sustainable Development Goals and the National Development Strategy, NDS30, particularly in terms of inclusive growth and the creation of decent jobs in Cameroon.

“We seek to give visibility to producers transforming Cameroonian raw materials and introduce them to international markets. We will also support them in acquiring certification of products and processes,” Tavares said to the press.

The ceremony was also an avenue to present to the public the latest developments in the SMEs sector and showcase to the public through exhibition stands, products and services that contribute to the implementation of the import-substitution policy in the country.

The story was first published in The Guardian Post issue No:3157 of Wednesday July 3, 2024