CEPI boost women’s capacities on entrepreneurship.

Attended by women from both formal and informal sectors, the workshop centred on how to conduct market research with no cost, how to identify first customers and how to keep records.

The participants were provided with manuals and key action points to help them conduct simple market research, record sales and expenses, and map out a marketing plan. 

Speaking during the event, the CEPI Founder explained that women entrepreneurs in Cameroon face significant obstacles which exacerbate discrimination and gender bias. He mentioned obstacles including cultural norms that prioritize women's roles in the home, and limited finance due to a lack of collateral and inadequate support systems. 

However, he said women lead 23% of manufacturing SMEs but many women fail to formalize their activities despite having huge business potential. 

He then outlined how to register their businesses, the documents required and key websites women can visit of more information. 

During the interactive session, most women complained about the burdensome nature of payment of taxes and the need to simplify taxes by allowing payments via online payment system like mobile money transfers. 

In response, Kouam noted that CEPI successfully advocated of the suspension of value-added tax for vital products and the suspension of tax payments for newly registered businesses for a period of three years. 

The economist equally presented the various requirements from banks for women who want to lend to grow and expand their businesses. He also outlined the need to begin improving the compliance of their products with international norms before exporting. 

Meanwhile, Kuitchou Mirande epse Dongmo, founder of an Eco-friendly cooker made from base materials, schooled the women on how to manage resources, time and people. 

CEPI’s free market fellows used the opportunity to introduce participants to export-oriented thinking. She provided a snapshot of export and import procedures and guided them on how to access relevant information through the Chambers of Commerce and the Ministry of Trade. She also encouraged the participants to look beyond local markets and begin preparing their products to meet regional and international standards.

On her part, Christelle Guegne, founder of a local tea company known as Phyto Assure, illustrated how to conduct market research, find local buyers and register to trade shows across Yaoundé and Douala. 

She emphasized that they may not easily be admitted to trade shows unless they formalize their activities. 

The trainers agreed that it should be simpler to pay taxes for entrepreneurs and their employees and registering them to make social security payments should be fully digitized with automated know-your-customer procedures like video calls or recordings.

It is important to note that the Cameroon Economic Policy Institute is committed to improving economic development through fact-based research, advocacy and training to boost entrepreneurship and free market ideals.