At SMEs forum first edition: GeCAM, SMEs ministry renew commitments to boost entrepreneurial ecosystem.

This was outcome of first edition of Small and Medium-sized Enterprises, SMEs, Forum, which took place Friday October 11, at GeCAM’s headquarters in Douala. 

The forum, organised under the theme: "Developing synergies among actors to increase the performance of SMEs in Cameroon”, had as aim to contribute to the improvement of financing, investment, production, and marketing performances for Cameroonian SMEs.

Chaired by the Minister of Small and Medium-sized Enterprises, Social Economy and Handicrafts, Achille Bassilekin III, it was part of the implementation of the MINPMEESA-GeCAM roadmap with a view to ensuring the optimal contribution of the private sector to the Gross Domestic Product, GDP.

Present at the meeting were representatives of the Ministry of Finance and the Ministry of the Economy, Planning and Regional Development; General Directors and representatives of public SME management structures. 

Also present were representatives of development partners such as African Development Bank; AfDB; French Development Agency, AFD; World Bank; International Labour Organisation, ILO; GIZ, International Finance Corporation, IFC; United Nations Development Organisation, UNIDO; United Nations Development Programme, UNDP; and European Union, EU; business leaders, economic promoters and general managers of companies. 

In his opening remarks, the president of GeCAM, Celestin Tawamba, said it has been his wish and that of the organisation's leadership to see that SMEs grow to full potential of what they represent to the economy. 

He said this was the main drive behind the fusion and subsequent changes from then GICAM to GeCAM.

Tawamba noted that the fusion was to ensure that small enterprises, very small enterprises, medium enterprises and big ones could together work for the greater good of the country's economy. 

The Director of the International Labour Organisation, ILO, Lassina Traore, highlighted the undeniable importance SMEs play in the entire economic fabric, but regretted that the sector faces challenges that cause most of them to go extinct within five years of existence. 

Traore promised ILO’s technical support to GeCAM as they look forward to implementing an SMEs development roadmap. 

GeCAM’s leadership hailed 

The SMEs Minister, Achilles Bassiliken III, hailed the leadership of Tawamba at GeCAM for the new vision with interest in the growth of SMEs. 

He noted that the vision ties squarely with the ambitious moves of the Head of State when he decided to create a ministerial structure dedicated to SMEs. 

Minister Bassiliken III said there are structural solutions that are put in place to resolve the problems of SMEs. 

However, he insisted that more information should be disseminated, reinforce collaboration effected between big and small enterprises so that technical expertise would be transferred. 

The minister also acknowledged challenges businesses in Cameroon face. He, nonetheless, said his presence at the session was a confirmation of government's willingness to address those difficulties.

GeCAM, MINPMEESA agree to support SMEs

On behalf of the government and the private sector, the GeCAM president, Celestin Tawamba, and the SMEs Minister, Achilles Bassiliken III, adopted a roadmap for the promotion of the sector. 

Some of the provisions of the roadmap included; the rapid operationalisation of the Fund provided for by Law No. 2010/001 of April 13, 2010, promoting SMEs in Cameroon, modified and supplemented by Law No. 2015/010 of July 16, 2015, in order to support the financing of operations supporting the creation and development of SMEs.

Both parties agreed to strongly encourage the establishment of the Special Fund to support the certification of SME products. They were in favour of the creation and operationalisation of the Management Company of Credit Guarantee Funds for SMEs. 

Also, the establishment of legal and regulatory mechanisms for the functionality of innovative and green financing mechanisms was listed. 

On improving the tax system in favour of SMEs, they agreed towards the formulation and implementation of reforms and mechanisms better suited to the financing of SMEs, the establishment of a fairer and more incentive tax system, in order to encourage investments, broadening of the tax base and increasing the budgetary resources of the State.

On the improvement of access to SMEs markets, both parties are to encourage SMEs to make good use of tax exemptions and incentives put in place by the government to modernise their production system. 

They strongly encouraged the adoption and promulgation of the Law governing subcontracting in Cameroon and its subsequent texts; and are in favour of directing at least 60% of public procurement towards local SMEs.

This article was first published in The Guardian Post Edition No:3260 of Tuesday October 15, 2024