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The United Nations Development Programme (UNDP) organised a workshop yesterday in Yaounde attended by about a hundred young entrepreneurs from the Rapid Financing Facility (RFF) project, financial partners and officials from key ministries. This knowledge sharing workshop aimed at creating a platform to connect micro, small and medium-sized enterprises (MSMEs) with public and private actors capable of facilitating their access to funding. This was the key point of the day's discussions, with the ultimate goal of finding innovative solutions to facilitate access to loans for entrepreneurs. Presentations on themes such as the tools (programmes, financing, guarantees) put in place by the various ministries to support MSMEs, bank loans and participative finance plans, as well as the conditions for MSMEs involved in agriculture to access bank loans. The agenda mainly focused on challenges and opportunities.

Euphrasie Kouamé, UNDP Senior Technical Advisor, described the workshop as one designed to improve MSME access to funding to ensure the sustainability of these businesses. Note that these youths had previously received grants in the form of equipment and inputs from the programme. The RFF project comprises three components: reinforcing the managerial, technical and operational abilities of women and young entrepreneurs, facilitating access to finance for MSMEs, and improving market access and the competitiveness of more resilient and sustainable value chains.

136 youths from the Centre, Littoral and Far North regions have been selected and are receiving support from the programme which was launched back in July 2021. The activities already carried out or in progress mainly concern the identification of the main technical and financial support needs for each of the MSMEs, the follow-up of beneficiaries and their mentoring and coaching, assistance in the development of bankable business plans, market and retail outlet access facilitation, amongst others.

Source: Cameroon Tribune, 1 June 2022