BY NDUMBE BELL GASTON IN DOUALA
Leaders of the private and public sectors in Cameroon converged at the precincts of the reputed Employers Association known as GICAM, who organized the first edition of Small and Medium Sized Enterprises Forum, amidst concerns to examine or consider and harmonise initiatives and proposals to unlock and catalyse Cameroon’s economic and social potential. The event took place last Tuesday October 24.
For decades now, policymakers have neglected Cameroon’s entrepreneurship ecosystem which represents 90% of the economic landscape and has been extrapolated to deliver about 50% of the nation’s gross domestic product. Instead, the issue has remained a talk shop. The private sector is supposed to be the engine for growth and the entrepreneur, at the centre stage of economic development, but this has not been the case.
It is with these in mind that GICAM called on members and non-members alike to share knowledge and experiences so as to synergise to make a new vibrant SME sector that will be more performant, efficient, resilient, combative and more competitive both at the national level more urgently and at the international landscape, as time goes on.
In his powerful keynote address the President of GICAM Celestin Tawamba reminded participants on the challenges faced by SMEs and SMIs and after which he declared that <<Strong corporate enterprises will not exist without performant SMEs neither shall there be a prevailing dynamic economy without a structured SME ecosystem.>>Tawamba unilaterally declared that GICAM has decided to create a development centre for SMEs which will act as their mouth-piece with banks.
This was in the presence of the Minister Laurent Serge Etoundi Ngoa of Minpmessa who also declared that the emergence goals cannot be met without a strong SME sector able to contribute it’s own yields or G.D.P amounting to a minimum of 45% as compared to the current 34%. He also enumerated reforms like the creation of the Subcontractors and Partnership Exchange of Cameroon (SPX-CMR) the Bank of SMEs, the Centre for the Creation of SMEs and others which are now operational.
Among the priorities of the day were the protection, fiscal constraints impeding competitiveness, and Financial strategies which were discussed by three groups of panelists through which each of them were to make five recommendations totalling 15.
A case in point, the DG of ITG store, Gabriel Fopa who was called upon by GICAM to talk about the challenges he confronted before his successes, urged participants to be more courageous, manage effectively, and passionate in everything they were doing. Fopa who started with tens of millions and now is in billions, has had the workforce increase from 6 in 2006 to 110 in 2017.
The President of GICAM, Celestin Tawambain his closing remarks said that they will continue to defend the interests of SMEs and SMIs. He said that he was inspired by the concerns of those in attendance and unlike in the past, they will continue to appeal to government on behalf of PMEs politely but firmly.