For two days, Djeuga Palace Hotel in Yaounde hosted reflexions around challenges facing SMEs in Cameroon, especially youth and women-led businesses, from April 29-30, 2025. The Small Business and Entrepreneurship Center (SBEC) of the Denis and Lenora Foretia Foundation was privileged to bring together some of the finest minds within the ecosystem, on a unique platform that enhances interactions and creates value for all participants, on the theme: “Expanding: Scaling-up Youth and Women-led SMEs in Cameroon”. Present at the forum, stakeholders in diverse walks of life such as tech savvy, business developers, policy-makers, financial institutions, captains of industries, including over 250 SMEs leveraged the opportunity to troubleshoot challenges facing their activities and got a feel of the state of the sector.
This sixth edition of the SBEC Forum aimed at fostering inclusive entrepreneurship by creating a supportive business climate that addresses existing challenges and promotes sustainable business practices. According to Dr. Denis Foretia, Co-Chair of the Denis and Lenora Foretia Foundation, “SMEs represents over 95% of all businesses in Cameroon’s economic landscape and contributes 36% to the GDP, with projections indicating this could reach 40% by 2030. Yet, a sobering reality persists: between 70% to 80% of these SMEs cease to exist before their fifth anniversary”. A concerning situation which the Interim Director of SBEC, Sylvia Namondo, endorsed stating that, “women entrepreneurs represent 24% of Africa’s workforce, with Cameroon ranking third in female entrepreneurship across the continent. Yet only 12% of the country’s SMEs are formally registered.” The SBEC Forum is dedicated to change this narrative.
In this regard, the forum featured impactful articulations, including keynote addresses, plenary and breakout panel discussions, speed mentoring sessions, ‘Made in Cameroon’ exhibitions, not leaving out strategic networking opportunities with high profile speakers, and spotlighted support story telling of outstanding businesses from the SBEC network, now empowered to navigate business uncertainties. Engaging conversations from respective sessions culminated in the following recommendations to be enforced and/or implemented:
- The increasing use of digital transformations to curb corruption and enhance market accessibility, most especially public contracts;
- Technical support to build capacities of business entrepreneurs and strengthen internal structures of SMEs should have pre-eminence and determine eligibility to financial support;
- The implementation of industry-sensitive financing and tax reforms that create a more competitive environment for local businesses;
- Increasing political will to associate all stakeholders within the ecosystem in the policy-making process
In anticipation to the seventh edition slated for July 7-8, 2025, a road map to follow-up on the implementation of these recommendations, alongside a policy brief will be shared with stakeholders within the framework of our advocacy activities. We would not conclude without heartily thanking our partners, the Rising Tide Foundation, the John Templeton Foundation, and the Atlas Network who relentlessly support this initiative.
About the Small Business and Entrepreneurship Centre (SBEC)
The SBEC program is focused on providing the tools for establishing and expanding businesses in the private sector to spur economic growth. The program has a strong focus in empowering women, youths and the vulnerable in the private sector to establish and grow small and medium size enterprises in Cameroon.
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, policy makers, 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
