Cameroon: SBEC SME Annual Forum to Promote Business and Financial Opportunities
July 26, 2023
The overall aim of the SBEC SME Forum is to contribute to creating the direly needed job opportunities indispensable in the construction of a robust middle class
By Boris Esono Nwenfor
Participants pose with Foretia Foundation staff at the end of the SME Flagship Training in Buea that ran from June 8-9
BUEA, July 26, 2023 – The Small Business and Entrepreneurship Centre of the Denis & Lenora Foretia Foundation will on August 3 and 4, host the SBEC SME Annual Forum which would serve as a national platform to take stock of what has been done so far to make SMEs an economic development trigger in Cameroon.
The event at Djeuga Palace Hotel, with financial support from Rising Tide Foundation and the John Templeton Foundation is to create a platform where SMEs in Cameroon can interact with various stakeholders to share experiences, network and facilitate access to financial institutions to promote an enabling environment where they can improve on their productivity as unavoidable levers of economic development in Cameroon.
The expectation at the end of this Forum is to have SMEs develop long-term value-adding business relations that would help them grow further as they gain exposure to formalize and attract funding or contracts through provided exhibition spaces. Further opportunities will engage SMEs in Human to Human (H2H) business talks, increase their visibility through various dedicated communication channels, award prizes as well as build capacities to set up sustainable structures, capable of surviving diverse economic and business hazards.
This noble ambition falls in line with the Cameroon government's "Vision 2035" which portrays the country as follows: “Cameroon: An Emerging, democratic and united country in diversity". To achieve this Vision, it is expedient for decision-makers to materialize their political will by effectively thriving to place SMEs at the heart of development efforts in the country as they represent a major actor in Cameroon’s economic ecosystem.
The Minister of SMEs, Social Economy and Craft, Pr Laurent Serge Etoundi Ngoa, deplores the poor contribution of SMEs to the GDP - only 36%. He said: “If SMEs were to contribute 50 per cent, we would already be an emerging country.”
The event at Djeuga Palace Hotel, with financial support from Rising Tide Foundation and the John Templeton Foundation
An opinion deeply shared by Dr Denis Foretia, Co-Chair of the Denis & Lenora Foretia Foundation who echoes that "Entrepreneurship is the lever through which we can generate, create a lot of good paying jobs. It is the main way by which countries improve their economic productivity."
About the Denis and Lenora Foretia Foundation
The Denis & Lenora Foretia Foundation was established to catalyze Africa’s economic transformation by focusing on social entrepreneurship, science and technology, innovation, public health, and progressive policies that create economic opportunities for all. The foundation works in partnership with local governments, policymakers, private enterprises, civil society organizations as well as development partners to expand the resources available to entrepreneurs, farmers, and small business owners in addition to improving individual livelihoods.
The Small Business and Entrepreneurship Centre (SBEC) was founded to support SMEs across the country and to promote business-friendly policies that stimulate innovation and job creation. Through SBEC Network, member SMEs receive training and administrative support to increase productivity and efficiency.
This SBEC Forum would serves as a national platform to take stock of what has been done so far to make SMEs an economic development trigger in Cameroon
About the Rising Tide Foundation
The Rising Tide Foundation supports studies and programs that deliver results for cancer patients and empower individuals to develop their skills to make a difference for themselves and the greater community. Based in Schaffhausen Switzerland, but with a truly global reach, it strongly believes that the market economy, in concert with limited government and rule of law, holds the greatest promise of freedom and prosperity for all. Through its philanthropic activities, the foundation supports efforts that promote financial prosperity, individual flourishing, and sustainable income generation.
About the John Templeton Foundation
Founded in 1987, the John Templeton Foundation supports research and dialogue on the deepest and most perplexing questions facing humankind. The Foundation funds work on subjects ranging from black holes and evolution to creativity, forgiveness, and free will. It also encourages civil, informed dialogue among scientists, philosophers, theologians, and the public at large. With over $2.8 billion in assets and annual grants of $220 million in 2021, the Foundation ranks among the 25 largest grantmaking foundations in the United States. Headquartered outside Philadelphia, its philanthropic activities have engaged all major faith traditions and extended to more than 190 countries around the world.
