By Boris Esono Nwenfor
The Cameroon Economic Policy Institute (CEPI) of the Henri Kouam Foundation has called for stronger reforms to help Cameroonian businesses fully benefit from the opportunities offered by the African Continental Free Trade Area (AfCFTA).
The call was made during a roundtable discussion held at Hotel Franco in Yaoundé under the theme, “The African Continental Free Trade Area (AfCFTA) as a Tool for Economic Freedom in Cameroon.” The event on May 29 brought together some 50 entrepreneurs, policymakers, trade experts and business leaders to examine how the continent-wide trade agreement can promote free markets, economic freedom and greater participation of Cameroonian businesses in intra-African trade.
Facilitating the discussions, Henri Kouam, Executive Director of CEPI, situated the conversation within the broader evolution of the AfCFTA since its launch in 2018. He noted that the agreement has moved beyond political commitments into practical implementation through the Guided Trade Initiative (GTI), which allows selected countries and businesses to trade under AfCFTA preferential terms.
Kouam pointed to Cameroon’s first successful export under the initiative by GIG Afatex, which shipped dried safou fruits and ginger to Ghana, as evidence that the agreement is already creating opportunities for local enterprises.
He also highlighted reforms that have accompanied the implementation process, including the reduction of value-added tax on locally produced flour, partial digitisation of customs procedures, harmonisation of customs codes within the ECCAS-CEMAC space, and lower import duties on renewable energy equipment.
Experts Examine Opportunities for Businesses
The panel discussion featured experts from government and the private sector, including Abena Atsana Jolyana, Assistant Head of Research at the Ministry of Commerce, Okala Mengue Bruno from the Ministry of Small and Medium-Sized Enterprises, Wanah Immanuel Bumakor of Amani Transformational Services, and Paule Sikombe of P&P Fisheries.
Speaking during the session, Paule Sikombe stressed that many small and medium-sized enterprises continue to face significant obstacles in accessing continental markets. She identified lack of information, limited access to finance and insufficient technical capacity as major barriers preventing SMEs from taking advantage of the AfCFTA.
According to her, awareness of the trade agreement remains very low among micro and small enterprises, making targeted capacity-building initiatives essential.
Wanah Immanuel Bumakor focused on the role of entrepreneurship and private sector development in translating the benefits of continental trade into economic growth at the grassroots level. He advocated reforms aimed at reducing tax burdens and simplifying the business environment to encourage enterprise growth and competitiveness.
Participants also explored the core principles of free markets and discussed how AfCFTA protocols on goods, services and investment can expand economic opportunities across the continent. Panellists explained export procedures available under the Guided Trade Initiative and outlined the potential benefits for businesses willing to expand beyond domestic markets.
Despite these opportunities, participants acknowledged persistent challenges facing entrepreneurs. One of the most significant concerns raised was the low level of awareness regarding rules of origin and export requirements, which are critical for businesses seeking to benefit from preferential trade arrangements.
Access to finance also emerged as a major concern. Participants noted that many financial institutions require business certification before extending credit, while the costs associated with obtaining such certification remain prohibitive for many small enterprises.
The issue sparked a lively debate when an attendee questioned how small businesses are expected to industrialise and compete across Africa when many of the requirements for entering the formal economy appear tailored to larger firms.
Recommendations aimed at boosting intra-African trade
At the end of the session, participants proposed several measures aimed at enhancing Cameroon’s participation in the AfCFTA and promoting market-friendly reforms.
Among the proposals were reducing the administrative and financial costs of business certification, developing alternative credit assessment systems for SMEs, strengthening awareness campaigns on AfCFTA procedures, accelerating the digitisation of customs documentation, upgrading road infrastructure, and encouraging commercial banks and the Bank of Central African States (BEAC) to join the Pan-African Payment and Settlement System.
Such measures would help create a more inclusive business environment and enable more entrepreneurs to participate in continental commerce. CEPI reaffirmed its commitment to bridging the gap between trade policy and the realities faced by businesses on the ground.
“The AfCFTA creates the market,” CEPI noted. “The work ahead is making sure every Cameroonian entrepreneur has a real path into it.”
