Source:| Ngwenekome Priscilia Ahone, Cameroon

The minister of Small and Medium enterprises, Social Economy and Handicrafts, MINPMEESA, Achille Bassilekin III has launched the 4th edition of an awareness campaign to present possible benefits of merging with the approved management centers, CGAs.

Launched in Ngaoundere on July 23, this union creation is following a general census of companies conducted in 2016 that revealed small and medium sized enterprises, SMEs have occupied Cameroons economy. During this period, there were already about 243, 000 companies in the country which had over 90% SMEs.

With this high number, they have reduced the unemployment rate in the country with about 54% of jobs creation and added over 36% in the Gross Domestic Product.

However, this adhesion of SMEs with CGAs will be an easy way to acquire support from Banks according to experts who attended the campaign. This is regarding the financial problems the enterprises are facing. “CGAs assist companies in terms of tax issues, financial problems and bank services can be obtained when working with them, because Banks most at times complain of poor quality financial statements from SMEs”, said Paul Ela Menye, a financial expert at the launch campaign.

Talking to the press after the campaign, some promoters of SMEs who took part in the launching ceremony requested for assistance from the government. “The knowledge we have gathered from the campaign will help us to move from informal to formal operations and, we also expect aids from the state, especially to our partners in the local areas”, said Halimatou Adjia, one of the promoters.

While other SMEs partners feel that CGAs support will favor the financial management of their companies. “I did not have any idea of financial management when I became an entrepreneur, but by attending this event, my managing system is sure to progress which will be thanks to CGA”, said Abbo Aboubakar.

Speaking to the press, the minister stated that this campaign is in line with the government’s desire which is to upgrade the standard of small and medium sized enterprises. “This membership SMEs is creating with the CGAs will exclude patent rights, 50% of taxes will be paid in the first three years and incentives will be given to entrepreneurs; The government wants to help them by placing entrepreneurs and craftsmen at the same level.” he said.

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