Cameroon Launches Public-Private Operations to Support SMEs in Six Regions
The public-private operations in Cameroon were officially launched on October 9, 2024, in a ceremony held at the Littoral governor’s office in Douala. The project, dubbed Support Operation to the Cameroonian Private Sector, is financed by the United Nations Development Programme (UNDP), with a total budget of 12.5 billion CFA francs.
Reinforcing the resilience of SMEs in six regions 🏢
This initiative seeks to reinforce the resilience of small and medium-sized enterprises (SMEs) across six regions in Cameroon: the South West, Littoral, West, North West, Far North, and Center. Over the next three years, the project aims to strengthen businesses by providing financial assistance and support mechanisms, particularly in the agricultural sector 🌱.
Key objectives of the project 💡
During the launch ceremony, Samuel Dieudonné Ivaha Diboua, the governor of the Littoral region, emphasized that the project will create jobs, build skills, and provide affordable employment opportunities. These developments will benefit not only youths and women but also contribute to long-term economic growth.
Two mechanisms of financial assistance 💸
The national coordinator, Isaac Tamba, detailed the financial mechanisms involved in the project. The initiative provides a platform of over 50 million CFA francs for general support and 800 million CFA francs in subsidies for start-ups and enterprises belonging to youths and women. These funds will help businesses thrive in a competitive landscape while supporting Cameroon’s sustainable development goals (SDGs) 🌍.
Alignment with UNDP’s strategic plan and the SDGs 🌍
This initiative is part of UNDP’s broader strategic plan to align with the Sustainable Development Goals (SDGs). The project’s goal is to alleviate multi-dimensional poverty, promote healthy competition, and ensure that SMEs in Cameroon have the resources they need to grow sustainably.
👉 Stay tuned to our blog for more updates on this initiative and its impact on the private sector in Cameroon.