Cameroon: Canada Helps Develop SME Incubation

Published by Nana Cums Com on March 18, 2023 at 06:18.

The Canadian High Commissioner to Cameroon accompanied the team of the Quebec General Delegation to Dakar, Senegal, on March 16, in Yaounde, to meet with the Minister of Small Businesses, Socio-Economy and Handicrafts. The conference aimed to refine the strategies put in place to better develop SMEs.

The Quebec delegation has come to discuss with Minister Asir Basilikin III the conditions for improving the treaty binding both parties. These treaties focus on incubating SMEs and developing youth entrepreneurship. “Canada relies on small businesses to build its economy. There are two important conventions here. Very SMEs, industrial transformation companies, knowledge sharing, sometimes joint contract activities, technology transfer,” explained Minister Vasilykin III.

According to this member of the government, developing incubation activities is an area that Canada and the Small Business Development Agency are working on. “And within this framework, together with the new High Commissioner, the full range of activities carried out in incubation activities, including not only all those that influence the development of young entrepreneurship, but also those that influence innovation. These are the areas where we are looking to strengthen this relationship,” the minister said.

Cameroon created a ministry dedicated to SME development in 2004 to leverage SMEs for growth. According to Minpmeesa figures, the country had 330,543 in 2020, or her 99.8% of Cameroon’s total business population.