(Business in Cameroon) - The Cameroon Employers’ Grouping (Gicam) announced it has launched a program to boost local SMEs that are active in the art and culture industry.
“This is a program designed for SMEs with strong growth ambitions. It is a complete personalized support program that will last 12 months. Beneficiary entrepreneurs will receive tailored support with a 360-degree strategic diagnosis of their activities,” Gicam explains.
In its first phase, the program will focus on cinema and film professions; textiles; painting-drawing-illustration; sculpture; publishing house-photography; urban dance/hip-hop/contemporary. Applications must be submitted to the Executive Director of Gicam no later than October 20, 2022. At the end of the program, 20 SME leaders would have benefited from advice, training, networking, and benchmarking trips.
In Cameroon, the arts and culture industries are still at an embryonic and almost artisanal stage, despite the existing potential. Yet, neighboring Nigeria has succeeded in developing a large-scale industry notably with the creation of Nollywood (an industry worth $393 billion/year, according to UNESCO), like Hollywood in the United States, and Bollywood in India.
Cameroonian productions are hardly visible on streaming platforms or in prestigious arts and culture competitions. The local industry suffers from amateurism, lack of technical support, and difficult access to finance, as banking and financial institutions are very reluctant to finance the sector.