Cameroon – Algeria: Support mechanisms to boost Cameroonian SMEs underway.

MINPMEESA > News > Cameroon – Algeria: Support mechanisms to boost Cameroonian SMEs underway.

This declaration was made during an audience granted by Minister Achille BASSILEKIN III to the Algerian Ambassador to Cameroon H.E. BOUMEDIENE MAHI on May 31st 2022. Amidst revisiting bilateral cooperation between both countries in terms of promoting SMEs and Handicrafts, the objectives of the audience were to create contacts with the Algerian Ambassador, discuss support mechanisms for entrepreneurial youths of both countries who are witnessing unemployment and other challenges with respect to some economic drawbacks of the sector as well as other associated issues and lastly, create future prospective for drafting a judicial instrument that will accommodate relations between both structures.

Speaking during the audience, H.E. BOUMEDIENE MAHI outline several Algerian mechanisms developed for the support of youth entrepreneurs which he stated could be replicable in the Cameroonian context. He also reviewed the possibility to engage in initiatives between both country structures in charge of SMEs which in his opinion stated that they will be beneficial to both countries SME eco-system. Reviewing these aspects, the ambassador stated that the audience was of great interest especially in the engagement and willingness of both Minister Achille BASSILEKIN III and the Algerian Minister in charge of SMEs to make the decisions taken to be profitable for both states. He further stated that Algeria is ever ready to share their experiences in the domain of SME support and many more through trainings and exchanges programs between SMEs of both countries. The Algerian boss further mentioned that prospects of drafting out a judicial instrument that will resume all the support mechanisms Algeria is willing to offer to Cameroon will also envisaged.

Minister Achille BASSILEKIN III on his part confirmed his willingness to work for the progress of this judicial instrument which he was hopeful will be concluded in the nearest future so that its implementation will kick off soonest. He further mentioned that Algeria has shared strong ties with Cameroon especially through its transfer of technological know-how to Cameroonian SMEs alongside other trainings and joint missions and expositions as well as expertise in other sectors. Minister Achille BASSILEKIN III also mentioned that the Algerian SME ecosystem has a lot to offer to the Cameroonian SMEs be it within the framework of ICTs, the development of Very Small and Small entrepreneurial ecosystem is an inspiration to Cameroon. As such, despite Cameroon’s advancement in this sector, it is still of great Importance to enrich the Cameroonian SME sector with the Algerian wealth of experience and mechanisms in this sector. This will be done through trainings, joint missions and expositions. Endowed with energy, The Minister remained hopeful that Cameroon giant enterprises stand to gain a lot from Algeria, the progressive insertion of SMEs in the informal sector was also a point of concern. Mechanisms for their migration to the formal sector were also raised. As such, with Algeria’s wealth of experience and mechanisms in this domain, Minister Achille BASSILEKIN III remained optimistic that Cameroonian SMEs will be greatly formalized.

It should be recalled that the two personalities also discussed at length the participation of Cameroon in the 53rd edition of the International Algerian Fair to take place from the 13th to the 18th of June 2022. This major economic event will have the United States as its guest of honor. This International Fair is said to host approximately 540 exhibitors from around twenty countries excelling in no less (10) sectors. Also, worth noting is the fact that the Algerian SME sector has several mechanisms created to support SMEs. Some of such mechanisms include the National Agency for the support of youths, Agency for the promotion of Social Security and the Formalization of SMEs as well as the Mutual Risk Fund.

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