(Business in Cameroon) – A newly released 2024 statistical yearbook from the Ministry of Small and Medium Enterprises, Social Economy, and Handicrafts reveals a substantial increase in the number of small and medium enterprises (SMEs). The report indicates that the total stock of SMEs reached approximately 443,524 last year, up from 393,175 in 2023. This represents the creation of 50,349 new SMEs year-on-year, a growth rate of 12.8%.
Among these newly established SMEs, the ministry documented 21,132 through its Business Creation Formalities Centers. The remaining new SMEs were registered by other organizations, including the SME Promotion Agency (APME) and the National Institute of Statistics (INS).
The data further highlights the dominance of SMEs within Cameroon’s business landscape, accounting for 99% of the total 444,302 companies recorded in 2024, according to the Ministry of SMEs.
The statistical yearbook also indicates that 77% of SMEs operate within the tertiary sector. “Individual enterprises (EI/ETS) represent 97% of the stock. The major metropolitan areas alone concentrate nearly 57.4% of SMEs, with 106,002 SMEs in Yaoundé and 148,581 in Douala,” the Ministry of SMEs specified. Moreover, figures from the Business Creation Formalities Centers suggest that the 21,132 newly registered SMEs are projected to generate over 97,000 jobs.
For context, the government classification defines a very small enterprise (VSE) as employing no more than five people with an annual turnover excluding taxes not exceeding 15 million FCFA. A small enterprise (SE) employs between six and twenty people, with an annual turnover excluding taxes above 15 million FCFA but not exceeding 250 million FCFA.
A medium enterprise (ME) employs between 21 and 100 people, with an annual turnover excluding taxes ranging from 250 million to 3 billion FCFA. Finally, a large enterprise (LE) employs more than 100 people and has an annual turnover excluding taxes exceeding 3 billion FCFA.
Ludovic Amara
