The Cameroonian Minister of Small and Medium Enterprises, Social Economy and Handicrafts (Minpmeesa) announced it yesterday Tuesday, during the national day for SMEs in Douala.
Small and medium-sized enterprises (SMEs) occupy an important place in the Cameroonian economy. According to the words of the Cameroonian Minister of Small and Medium Enterprises, Social Economy and Handicrafts, Achille Bassilekin III, SMEs represent nearly 41% of the Gross Domestic Product (GDP).
Indeed, to rebalance its trade balance, the government of Cameroon intends to bet on SMEs to promote the reduction of imports. This strategy will also allow for export diversification, which in turn will reduce the country's exposure to external shocks and imbalances. "We believe that by mobilizing SMEs that are currently in the agro-industrial sectors, we can help increase overall export earnings. And I am convinced that SMEs have identified some specific incentives that they deserve and that they will really contribute to the development of the import substitution policy in our country," minpmeesa said at the national day for SMEs held on December 7, 2021 in Douala.
According to a map by the Ministry of Small and Medium-sized Enterprises, Social Economy and Handicrafts, in 2019 alone, 14,229 production units were created compared to 13,423 the previous year, or 806 additional companies. According to a grouping by size, Very small enterprises (VSEs) hold 36% of this figure, Small Enterprises (PE) 34% and medium-sized enterprises (ME) 30%.