(Business in Cameroon) - Cameroon and Spain signed a framework partnership agreement on November 8 in Yaoundé to promote entrepreneurship and the development of SMEs. The document was inked by the SMEs Minister (Minpmeesa), Achille Bassilekin III, and the Director-General of the Spanish Foundation of Chambers of Commerce for the Creation and Development of Enterprises (Incyde), Javier Collado Cortes, in the presence of the Spanish Ambassador to Cameroon, Ignacio Garcias Lumbreras.

"The framework partnership agreement aims to promote and develop entrepreneurship and the entrepreneurial spirit through training and consultancy, the development of self-employment initiatives, business consolidation, as well as the discovery and promotion of business initiatives that enhance the business world," the Cameroonian minister said.

Specifically, the parties want to focus on developing business incubators. The Incyde Foundation has successfully developed 23 business incubation centers, specializing in various sectors such as technology, aerospace, and agri-food. Minpmeesa believes that this network of incubators can "not only be useful for supporting entrepreneurship in specialized areas identified in the SND-30 but also for the development of high-tech entrepreneurship, which is one of the Foundation's areas of specialization."

The signing of this agreement marks the realization of an offer made by Spain to Cameroon five months ago to support entrepreneurship and SMEs in the country. This offer was presented to Achille Bassilekin III on June 27 by a delegation from the Cooperation and Development Initiatives association, accompanied by the Spanish Ambassador. Further welcoming the initiative, Minpmeesa said it marks "the determination of the Spanish government to support the development of the Cameroonian entrepreneurial ecosystem."