“POWERING PROSPERITY AND ECONOMIC FREEDOM FOR WOMEN AND YOUTHS- CAMEROON” (PPEF PROJECT)

Presentation of a Briefing Report on “Challenges and Opportunities for Small and Medium-Sized Enterprises Development in Cameroon”

Date: Friday, March 17, 2023 / Time: 10:00 am (Cameroon time), Onsite Event
Venue: Mansel Hotel, Yaoundé
By invitation only

1. Background

In enacting the 2023 Finance Law, the government of Cameroon has decided on a series of measures that could more or less affect the ease of doing business in the country. These measures mainly concern access to electricity, access to land titles, the increase in the price of certain stamps and the recent increase in the price of fuel. The tax-free electricity sales rate for medium-voltage (MV) customers and the minimum thresholds for negotiating rates for “key account” customers indeed increased from 50 to 95 francs CFA between 11 p.m. and 6 p.m. and from 50 to 125 francs CFA between 6 p.m. and 11 p.m., representing an increase of about 47 percent and 60 percent respectively during the day and at night (ARSEL, 2022). The price of fiscal stamps, which are widely used for the design of many files, including those related to obtaining land titles, has increased by 50 % from 1000 FCFA to 1500 FCFA (Finance Law, 2023). As for the price of fuel, a liter of Super will now cost 730 FCFA in gas stations, up by 100 CFA francs (+15%) from 630 FCFA francs in the past. A liter of Diesel will now cost 720 FCFA, up from 575 FCFA. This represents an increase of 145 FCFA, equivalent to 25.2% in relative terms. In response to the increase in the price of fuel, the Government has decided to raise public sector salaries, but the private sector remains on the sidelines. All these measures could therefore have an impact on the business environment and the development of the private sector.

2. Objectives

The main objective of this event is to mobilize stakeholders and obtain their commitment to work for a better support of entrepreneurs to overcome the problems they face and that make their enterprises vulnerable. More specifically, it will be a matter of:

• Presenting the findings of a “State of Business” briefing in Cameroon on the theme : “Challenges and Opportunities for the Development of Small and Medium-Sized Enterprises in Cameroon”.
• Highlighting the relevance of enterprise development for an inclusive and sustainable economic growth in Cameroon.
• Discussing how the business climate should be improved to strengthen the resilience of SMEs in Cameroon.
• Gathering stakeholder inputs to create impact.

3. Target audience

The target audience of this meeting includes government officials, Diplomats, International Organizations, Civil Society Organizations, Academia, Entrepreneurs, Financial Institutions, Business Incubators and Media.

4. Expected outcome of the event

Stakeholders will be convinced about the opportunities for SME development in Cameroon and committed to working collectively towards improving the business environment in the country.

5. Contact

Email: info@foretiafoundation.org / Tel: (+237) 654 86 72 54