The Economic Impact Of Covid-19 On Entrepreneurship In Cameroon
Date: 21st May 2021 Time: 3pm – 4:00pm
Venue: Online, Zoom (Register Here)
Based on the report published by the International Labour Organisation, 8 out of 10 enterprises are informal. Almost 1.6 billion workers in the informal sector are significantly impacted by the COVID-19 pandemic, leading to a 60 per cent decline in their earnings. For these workers, discontinuing work or working remotely is not an option because they could lose their jobs and livelihoods.
In Cameroon’s case, the informal sector officially occupies 90% of the country’s active population and is productive as countries with a much higher economic level in Africa. According to an IMF report, the informal sector in Cameroon contributes 20 to 30% to the country’s GDP. The COVID-19 pandemic has had far-reaching economic consequences beyond the spread of the disease itself, and efforts to quarantine it has not been effective, therefore, provoking an unprecedented downturn in the global economy.
Following the publication by le Groupement Inter-Patronal du Cameroun (GICAM) on the “Impact of the Covid-19 Crisis on Companies in Cameroon”, May-June 2020, the proportion of companies negatively impacted by the Covid-19 crisis increased from 92% to 96.6%. This estimate is obtained based on a sample of more than 250 companies consulted between May and June 2020, 25% of which were big companies and 75% of SMEs.
It is against these economic challenges posed by the pandemic that the Small Business and Entrepreneurship Center (SBEC) of the Denis & Lenora Foretia Foundation is organising a webinar on the theme “The Economic Impact of COVID 19 on entrepreneurship in Cameroon “. This event is a platform for stakeholders to discuss how the pandemic has affected the entrepreneur ecosystem, the opportunities available and possible recommendations to entrepreneurs in Cameroon.
The main objective of this webinar is to enlighten stakeholders of the entrepreneur ecosystem on the economic impact that COVID-19 has had on entrepreneurship and seek for better adaptability strategies to meet up with their business needs and profitability.
The specific objective is to:
- Bring together experts to propose recommendations that would help entrepreneurs to better adapt to the revenging economic impact of the pandemic on their businesses;
- To better prepare entrepreneurs on the occurrence of future economic threats.
- SBEC network members
- General public
Founder & Managing Director at Kayvey Foods Sarl
Mme. Christel YOUBI
CEO of AM Group
Dr. Jean Cedric KOUAM
Senior Economic policy analyst at Nkafu policy Institute
Dr AHANDA Sosthène Nicaise
Director of the Small Business and Entrepreneurship Center (SBEC) of the Denis and Lenora Foretia Foundation