Enhancing Financial Inclusion for Small and Medium Sized Enterprises in Cameroon

Theme: Enhancing Financial Inclusion for Small and Medium Sized Enterprises in Cameroon

May 31st 2022, at 3 pm via the zoom platform (Register Here)

Background

Small and Medium Enterprises (SMEs) play a significant role in most economies, particularly developing countries. In Cameroon, SMEs represent more than 90% of the country’s economic fabric and contribute 34% of the Gross Domestic Product (GDP), remain a driving force in the national economy, accounting for 54% of job creation and 14% of overall value-added according to the ministry of small and medium-sized enterprises, social economy and handicraft. Facing financial inclusion difficulties, SMEs limit their positive impact on the country’s economy. However, Cameroon’s low SMEs financial inclusion rate is due to the low penetration rate of financial institutions, difficulties in formalizing businesses, high cost of financial services and products, and the presence of informal financial systems. There is empirical evidence of the effect of financial inclusion on the growth of SMEs. Hence, an improved financial inclusion of SMEs will develop entrepreneurship and have a positive impact on the Cameroon economy. Faced with these various problems responsible for the low rate of financial inclusion of SMEs, the Small Business Entrepreneurship Center of the Denis & Lenora Foretia Foundation is organizing a webinar to discuss how to enhance SMEs’ financial inclusion in Cameroon.

Objectives

The main objective of this panel discussion is to discuss the importance of SMEs financial inclusion for their development and the Cameroon economy. It will be to

· To Promote SMEs financial inclusion in Cameroon.

· To evaluate the different existing strategies encouraging SMEs financial inclusions in Cameroon.

· To recommend strategies that stakeholders could adopt and implement to improve the rate of financial inclusion for SMEs in Cameroon.

Target audience

This event is open to financial institutions, entrepreneurs, financial and monetary policies makers, and the general public.

Contact

Email: [email protected] / Tel: (+237) 22 31 15 84 / 654 86 72 54