To boost socio-economic development: Gov’t, French Dev’t Agency finance 56 entrepreneurs with 151.1 millionFCFA.

The cheques were handed over by Minister Alamine Ousmane Mey and the Director of FDA, Virginie Dago. This was during a ceremony organised on September 11, in Obala in the Centre Region.

Several members of the government, administrative authorities of Lekie Division, the French Ambassador to Cameroon, Thierry Marchand, Head of the European Union delegation to Cameroon, Jean-Marc Châtaigner, among others lived the event. 

The financing, described as an honorary loan, unsecured credit with zero interest and a relatively long maturity was granted as part of the integrated programme for the valorisation and transformation of agricultural and agri-food products implemented by the government, with the support of FDA.

Speaking during the ceremony which he chaired, Minister Ousmane Mey, mentioned that the support has as aim to bolster the socio-economic development of Cameroon’s territories through factors such as job creation, the sustainability of production units, the strengthening of food security and the promotion of gender equality.

“This initiative is fully in line with the Head of State’s Vision 2035, and the SND30, that spotlights agriculture the major pillar of our structural transformation. Our aim is to bring about profound transformation in the business activities of small and medium-sized businesses,” Minister Ousmane Mey stated.

He further urged the beneficiaries to use the funding rationally and to repay it on time that is within three to five years.

According to the Head of the European Union Delegation to Cameroon, Jean-Marc Châtaigner, the initiative will gradually be extended to other parts of the country to further strengthen local development.

On his part, the French Ambassador to Cameroon, Thierry Marchand, highlighted that the initiative is a symbolic moment in the way their work for the development of Cameroon is being done.

“We want to get down to the level of small businesses and give them the resources they need to grow. We hope that the idea can be replicated across the country and in all economic activities. The honorary loan is a very modern and effective way of bringing resources to the right place, so as to rapidly create additional wealth,” the diplomat stated.

Enter beneficiaries

The beneficiaries all expressed gratitude to the government and the FDA for the funding that will enable them improve their projects and boost their production.

One of the beneficiaries Gérard Ayissi Ngono, who transforms agricultural products, said the funds will permit him double his company’s production.

“I received an envelope of 1.9 million francs which will enable us to raise our company’s technical platform and working capital, as well as expand the market so that we can better satisfy our customers,” Ayissi Ngono said.

He went on to add that: “We are based in Nkometou, where we produce natural juices from a variety of fruits. We produce a minimum of 500 bottles a month, and we intend to double this production with this support”.

This article was first published in The Guardian Post issue N0:3231 of Monday September 16, 2024