Challenges and Opportunities of Small and Medium Sized Enterprises Development in Cameroon
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Challenges and Opportunities of Small and Medium-Sized Enterprises Development in Cameroon
This report highlights the relevance of enterprise development for sustained, inclusive and sustainable growth in Cameroon. Based on information collected from various national and international organizations, the analyses conducted show that the Cameroonian government would benefit from redoubling its efforts to strengthen the competitiveness of national enterprises, particularly with a view to achieving the objectives of the new National Development Strategy 2020-2030 (NDS30) and taking better advantage of the opportunities offered by the African Continental Free Trade Area (AfCFTA). To achieve the expected results, the first action is for the government and all actors in the entrepreneurial ecosystem to collectively take concrete measures to reduce the predominance of the informal sector. Facilitating the transition of informal businesses to the formal sector and consequently ensuring their sustainability have become essential to promote private sector development. This requires improving the business climate, developing business incubators, upgrading infrastructure, developing the financial sector, and strengthening the public-private partnership.