BY NDUMBE BELL GASTON IN DOUALA
The Prime Minister and Head of Government Philemon Yang, has assured Small and Medium-Size Enterprises (SMEs) that domestic debts owed them will be paid to ensure their full participation in the acceleration of the economy.
The statement was made at the 9th edition of the Cameroon Business Forum themed “Financing of Small and Medium-sized Enterprises and the Development of the Cameroonian Industrial Bedrock” that started and ended in Douala last Monday March 12.
Issues related to the promotion and protection of SMEs were reechoed by economic interest groups and institutions of the private and public sectors alike in what appeared to be peaceful and frank dialogue amidst intermittent outbursts by entrepreneurs who claimed to have been unfairly treated by certain officials or dissatisfied by the implementation of certain procedures, and especially the problems of lack or access to financing and the payment of domestic debts.
Some concerns outlined by the private sector were expressed by large bargaining private sector economic groupings, such as the Chamber of Commerce, GICAM and ECAM among others.
The President of the Chamber Christophe Eken drew the Prime Minister’s attention to the fact that the Economic Partnership Agreement with the European Union is not bearing fruits; the security challenges in the country has caused a fall in business in the North West and South-West to 47% while in the Extreme North it has dropped to 66%. The President of the Chamber stated that while CBF gives the opportunity to improve rankings internationally, inadequate technology cannot promote exports, so the alternative should be to industrialise domestically and promote trade in the region while seeking solutions to improve on other domains, among others.
The President of e-CAM, Protais Ayangma estimated that the domestic debt owed SMEs could amount to FCFA 750 billion if those enterprises operating off banks are taken into account. He called for reinforcing financing of SMEs.
The President of GICAM, Celestin Tawamba joined his colleagues to mention that the insecurity in certain parts of the nation earlier mentioned, has paralysed economic activities which happens to be at the hub of this year’stheme, among others.
The Prime Minister who was accompanied by 12 Ministers, Directors General, and CBF officials like the permanent Secretary Eke Edimo and Adviser N° I. Professor Touna Mama, exhorted the private sector to improve on its management performance to encourage government, as government has agreed to boost the private sector.
The new Minister of Finance Louis Paul Motaze pointed out that he was working to confirm the actual figures of the domestic debt which is expected to be known by the end of March this year.
In another presentation worth mentioning, the Minister of Commerce, Luc Magloire Mbarga Atangana warned of the dangers of practicing illicit businesses, fraud, andcontraband goods.
Evaluation of 8th edition Recommendations
Despite all the challenges, the recommendations of 2016 Cameroon Business Forum were said to have been executed in 2017 at an evaluation rate of 64%. Out of 25 recommendations contained in 9 rubrics, 16 of them were executed making a percentage rating of 64%. Six of these are currently undergoing execution evaluated at 24%; two recommendations have yet to be started which is 8%, while one of them was finally disqualified and represented 4%. The Doing Business rating moved from 173 to 166 out of 190.
One of those important CBF projects realized was the Cameroon trade user’s guide called the Cameroon Trade Portal which was recently launched by the Minister of Commerce Luc Magloire Mbarga Atangana in Hilton Hotel Yaounde on March 6 2018. It is a platform meant to improve the business climate for Government and the private sector, including enhancing competiveness of the national economy. The Cameroon Trade Portal, a major source of electronic commercial information and procedure, especially on regulations regarding international trade, is now a reality.
The realization of this project is also in conformity with an accord signed with the World Trade Organisation to facilitate or share knowledge that was ratified by Cameroon. It is also used as a guide on dematerialized proceduresto improvetrans-border trade.
Other realizations include, the finalization of complementary services in my business.cm, the functioning of the third port in Douala, and the code related to construction, just to name a few.
9th edition recommendations
At this 9th edition, the recommendations that were adopted to promote Small and Medium-Sized Enterprises and SMIs were listed by the coordinator Touna Mama, to include the following; design national norms out of international standards and use these to reinforcethe capacities of Cameroonian enterprises so as to promote trans-border trades.It is also to expand the definition of norms and quality. This is to be done without delays by MINMIDT and ANOR.
Efficient measures are to be taken to counter illicit trade, fraud and contraband by Ministry of commerce with immediate effect; to accelerate procedures; to revamp the Bank of SMEs under the immediate responsibility of the Ministry of Finance and MINPMEESA.
The mybusiness.cm application should be extended to Bamenda, Bafoussam and Ebolowa under the supervision from now till June deadline.
More of the recommendations included the computerization of the delivery of registration numbers when creating enterprises in the cities of Garoua, Yaounde and Douala in the courts of first instance to be handled by the Ministry of Justice and made possible on a date not more than September 2018. A construction permit
Alain Malong, President of Syndustricam reacting during a press briefing stated that “There are a number of factors that should be considered which are necessary,such as the use ofefficient equipment,and talking about financing, it’s a pity that the banks are not all that sympathetic especially on long-term. Let these institutions become more reachable” he said.