(Business in Cameroon) - According to a report unveiled on September 3, 2020, in Yaoundé, by the Ministry of Small and Medium-sized Enterprises, Social Economy and Handicrafts, 14,229 new SMEs were created in Cameroon in 2019.
The Minister of SMEs, Achille Bassilekin III, said the report was published to provide users credible figures on SMEs, which constitute a significant portion of Cameroon’s economic fabric.
The report explains that compared with the 13,423 new SMEs created in the country in 2018, the 2019 figure represents an increase of 800 units. Since 2010, the number of companies established in Cameroon has been rising every year (over 80% are SMEs). For instance, the national institute for statistics recently revealed that in 2019, there were 209,482 companies in the country while, in 2009, there were only 93,969. It also indicated that this boom in company creation started with the establishment of Enterprise Creation Formality Centres (ECFC) that ease the processes.