At presentation of 2024 statistical yearbook: SMEs minister reveals over 21,000 new enterprises registered.

He made the disclosure during the presentation of the 2024 statistical yearbook on SMEs, the social economy, and handicrafts, PMEESA on May 13, in Yaounde.

According to the data presented at the event, Cameroon now boasts a total of 444,302 active enterprises. While large companies account for 778 of this figure, SMEs constitute the vast majority with 443,524 units, officials stated.

The minister said the 21,132 new SMEs registered in 2024 represent a significant leap compared to pre-2019 trends, which saw an average of 10,000 to 11,000 new businesses annually.

Minister Bassilekin III expressed satisfaction with the considerable figure, noting the sustained growth of approximately 22,000 new enterprises each year despite the economic slowdown caused by the COVID-19 pandemic. 

He further highlighted a positive shift in the orientation of newly created SMEs towards priority sectors identified in the National Development Strategy, SND30. The trend, he said, contributes to a progressive increase in adding value which is crucial step in transforming Cameroon's economy.

According to information made public by MINPMEESA, the statistical yearbook reveals that the majority of SMEs are concentrated in the major cities of Douala and Yaounde. 

Experts suggest the concentration may be attributed to easier access to administrative services and markets, as well as insufficient access to essential production factors like electricity, water, and road infrastructure in other regions.

The tertiary sector continues to dominate, accounting for 85.4% of all SMEs, it was stated. In contrast, only 444 SMEs operate in the primary sector and 2,501 in the secondary sector, the report indicated.

The situation, experts said, emphasizes the need to promote investment opportunities in high-value-added sectors such as agro-industry, wood processing, and the textile-leather-clothing industry to encourage business creation in these sub-sectors. 

The dynamism of Cameroon's youth is also noteworthy, with 39.8% of SME managers falling within the 30 to 40 age group, the same report noted.

It also emerged from the presentation that SMEs, representing 99.8% of all enterprises, generated an estimated added value of FCFA 7,291 million in 2024. The contribution, officials said, is expected to grow further with upcoming support initiatives. 

Minister Bassilekin III outlined strategic priorities for 2026-2028, including enhanced support mechanisms, strengthened access to financing, and continued promotion of entrepreneurial culture. He also said efforts towards certification and standardization within the SME sector will also be consolidated during this period.

This article was first published in The Guardian Post Edition No:3451 of Wednesday May 21, 2025