By Louvier Kindo Tombe
Focus during the one day event that took place at the Yaounde Djeuga Palace Hotel was to identify different and innovative funding schemes, examine adequate conditions for access to credits as well as new ideas that Small and Medium Sized Enterprises (SMEs) can explore.
“Most of our SMEs at times don’t have an idea of the financing opportunities available out there not to talk of how to access them, and also funding institutions lack knowledge on what enterprises are doing and what capital they have, so bringing them together will bridge the gap”, says Dr. Euphasie Kouamé, Strategic Principal Adviser at UNDP.
Also present at the event was the Director of Small and Medium Sized Enterprises at the Ministry of Small and Medium Sized Enterprises, Social Economy and Handicraft, Roger Junior Ond, Who highlighted the importance of the Rapid Financing Facility Programme to MSMEs.
“The vision is to jointly build a conducive business atmosphere where actors will easily find solace to their economic challenges, and that is why the Ministry of Small and Medium Sized Enterprises, Social Economy and Handicraft is glad to partner with the United Nations Development Programme (UNDP)”, he told News Upfront.
About 136 Small and Medium Sized Enterprises (SMEs), selected from three regions of the country (Centre, Littoral, Far North), took part in the Matchmaking Day. Some 37 of them (11 from the Centre region and 26 from the Littoral region) are set to receive funding for the respective activities. The funding will help them further develop their structures and also in the certification of their products, with assistance from institutions like ANOR, SME Agency, just to name but these.
“Actually the support I have received from the Rapid Financing Facility is very timely and it will go a long way to help me forge on with the transformation of agriculture products that am into”, a beneficiary from the Littoral region told us.
The Rapid Financing Facility (RFF) it should be noted was launched in July 2021 in Cameroon to help lessen the impact of COVID-19 on enterprises.
Beside financial support, SMEs equally receive proper technical training on management, operations, and mastery of the financial market.