The Minister of Small and Medium-Sized Enterprises, Social Economy and Handicrafts, Achille BASSILEKIN III, received a World Bank delegation led by Leonardo LACOVONE, Practice Manager for Finance, Competitiveness and Investment in Western and Central Africa, following a request from Cheick Kanté, Division Director for Cameroon.
This high-level meeting was held within the framework of operationalizing the partnership between MINPMEESA and the World Bank. Discussions focused on the roadmap for establishing a Credit Guarantee Company and transforming BC-PME, with the objective of improving SMEs’ access to finance and enhancing their competitiveness.
The mission also reviewed the progress of the World Bank-funded Social Safety Nets Project. To date, the program has supported more than 1,000 young entrepreneurs and facilitated the formalization of 750 businesses. The target is to reach 2,000 young beneficiaries by the end of the program.
This collaboration contributes to the implementation of Cameroon’s National Financial Sector Development Strategy (NFSDS) and the National Development Strategy 2020–2030 (NDS30), aiming to:
Increase SME productivity; Create more decent jobs; Strengthen priority value chains; Accelerate financial inclusion; Promote green finance and private capital mobilization.The Government reaffirms its commitment to pursuing reforms and strategic partnerships that will position Cameroon as a regional financial hub serving inclusive and sustainable growth.