(Business in Cameroon) – On November 12, during the opening of the third ordinary session of the National Assembly, which focused on reviewing and voting on Cameroon’s 2025 national budget, Cavaye Yéguié Djibril, the President of the National Assembly, raised concerns about the low level of funding allocated to Small and Medium Enterprises (SMEs) in the country.
In his speech, Djibril pointed out that only 18% of the total loans given to the private sector are directed to SMEs, despite these businesses providing 75% of the decent jobs in Cameroon. He called attention to the significant role SMEs play in the economy and urged the government to offer more support, especially in helping these businesses access financing and certifications, and comply with industry standards.
Djibril emphasized that since 2003, SMEs have been driving a dynamic growth of new businesses. This surge in business creation is particularly remarkable as 60% of these new companies are founded by young people.
He also reminded lawmakers of the government’s efforts to support business creation. Since 2010, Cameroon has established Business Creation Formality Centers (CFCE) across the country’s ten regions. These one-stop shops bring together all the necessary government services for starting a business in one location, making it easier and faster for entrepreneurs to start their companies.
A 2019 report from the National Institute of Statistics (INS) showed that before this reform, it would cost an entrepreneur nearly CFA482,000 and take about 29.5 days to complete the process of starting a business. After the reform, the cost dropped to CFA41,500, resulting in a financial savings of about CFA440,500 for each new business. This reform has led to a total economic gain of CFA36.9 billion for the private sector between 2010 and 2018.
