SBEC Trians Third Batch of Young Entrepreneurs and Business Owners : More Emphasis on Management and Financial literacy
The Denis And Lenora Foretia Foundation has trained the 3rd Batch of Young Entrepreneurs and Business Owners on Managerial and Financial management skills. This was during a session that took place at the Mansel Hotel in Yaounde.
The SBEC training on Entrepreneurship and Business Management is a series of skills acquisition initiative of the Denis and Lenora Foretia Foundation that seeks to empower young business owners and entrepreneurs in Cameroon on three thematics, notably business management, access to finance and tax procedures. It works in line with the Foundation’s objective to catalys economic growth in Cameroon in particular and Africa in general.
According to Cameroon GDP Growth Rate of 2018, the economy of Cameroon advanced 4.2 percent year-on-year in the first quarter of 2019, following a downwardly revised 3.5 percent growth in the previous period. The services sector expanded 3.3 percent, faster than 1.7 percent in Q4 2018, mainly boosted by internal trade (7.9 percent vs 4.3 percent); transport (6.6 percent vs 2.3 percent) and finance & insurance (8.5 percent vs 13.8 percent). Meantime, the secondary sector grew 5.5 percent, above 4.8 percent in Q4, driven by mining (14.3 percent vs 6.2 percent). On the other hand, agricultural activity rose 4.1 percent, slowing from a 8.2 percent growth in Q4. GDP Annual Growth Rate in Cameroon averaged 4.38 percent from 2003 until 2019, reaching an all time high of 8.50 percent in the fourth quarter of 2013 and a record low of 0 percent in the fourth quarter of 2015.
Speaking at the opening ceremony, the director of programs at the Denis and Lenora Foretia Foundation Agathe Djomeghu urged participants to stay focused and engaged during the trainings so as to maximize the material and become more dynamic business owners and entrepreneurs. Trainers included business owners, university lecturers such as Edison Ngeh, Founder of ROVERS Cameroon and Coordinator of REO Group International, Dr Ahanda Sosthene, Lecturer of Business Administration and Project Management at the University of Yaounde 1 and Usamanu Baba, Director of the Small Business and Entrepreneurship Center (SBEC) at the Denis and Lenora Foretia Foundation.
Over 100 participants attended the 3rd session. These participants where mostly youth business leaders, social entrepreneurs and civil society leaders. The project is implemented in partnership with Global Affairs Canada.