SMEs ministry, industrialists' syndicate partner to boost industrialisation.

The agreement seeks to strengthen the role of Small and Medium-sized Enterprises/Industries, SME/SMI, in the country's industrialisation drive, and to stimulate sustainable economic growth. 

It was signed recently in Douala, during a ceremony presided over by Minister Achille Bassilekin III.

According to information made public by MINPMEESA, the collaboration is intended to facilitate access to financing, supervision, and training for SMEs/SMIs, which are considered crucial aspects for their growth and competitiveness.

Representatives from SYNDUSTRICAM present at the event expressed their satisfaction with the strategic partnership. 

They stated that the convention provides an opportunity for SMEs and SMIs to access the necessary tools and resources for their development.

A SYNDUSTRICAM spokesperson stated: "This framework agreement will allow us to benefit from the tools the ministry can provide in terms of financing, supervision, and training".

Acknowledging Cameroon's lag in industrialisation, the industrialists underscored the importance of this cooperation with the supervisory ministry as it will help to reorganise and modernise SMEs/SMIs.

"The problem is that we have an entire nursery of SMEs/SMIs, but in terms of organisation, in terms of management, the SMI works for the large industry," the spokesperson added.

The industrialists further reiterated the importance of SMIs as the foundation of the economy, production, and output, referencing China as a model for industrialisation based on a large number of SMEs/SMIs.

On his part, Minister Bassilekin III, affirmed the government's commitment to the development of SMEs/SMIs and industrialization as it directly impacts the implementation of its import-substitution policy. 

The minister explained that the policy, based on the exploitation of Cameroon's natural resources and comparative advantages, aims to encourage the local processing of agricultural products, textiles, leather, wood, and other goods. 

Minister Bassilekin III underscored that the partnership with SYNDUSTRICAM is considered essential to achieving this objective.

"We are committed with SYNDUSTRICAM to supporting SMIs to make them actors in this transition, within the framework of this emergence policy," the minister affirmed. 

He further detailed concrete actions to be implemented, including providing comprehensive support and financial incentives to SMIs, and serving as an interpreter of their needs during the preparation of finance laws. 

He noted that emphasis will also be placed on organising sectors.

It was gathered that the signing of the convention marked a step in Cameroon's efforts to develop a stronger and more diversified economy. 

The ministry disclosed that the initiative is part of a global strategy aimed at creating jobs, stimulating innovation, and strengthening Cameroon's competitiveness in the global market.

“The success of this initiative will depend on the mobilisation of all stakeholders, from public authorities to businesses, including financial institutions and technical partners. The objective is to transform Cameroon into an industrial power, capable of prospering and guaranteeing a better future for all its citizens,” MINPMEESA explained.

This article was first published in The Guardian Post Edition No:3500 of Friday July 11, 2025