Sun, Feb 28, 2021

All Stories

Cameroon: Over 700 SMEs to Benefit from Government Subvention

About 720 Small and Medium-sized Enterprises have been selected to benefit from a state subsidy under the COVID-19 solidarity fund in a bid to revive Cameroon’s economy.

The announcement was made during press breifing issued by the Minister of Small and Medium-sized Enterprises Achille Bassilekine III on November 24 during the launching of the world week of Entrepreneurship in Yaounde, capital city.

Minister Achille Bassilekine III specified that the lists of the companies definitely retained on the extent of the territory were transmitted to the Ministry of Finance for authorization and payment by bank transfer.

To this effect, 720 companies to benefit from the government subsidy have been selected out of 1171 that submitted their files.  Besides, 291 files were selected out of 557 files of SMEs that applied for government assistance while 429 files were selected amongst the 614 files of craftsmen and promoters of the social economy manufacturing mask and hand sanitizers.

The Ministry of Small and Medium-sized Enterprises therefore received an envelope of FCFA 2 billion under the COVID-19 solidarity fund for the country’s economic recovery. 1.5 million from this envelope will cover the damages caused by the Pandemic, while  500 million will serve in support of craftsmen and social economic actors.

Applications to benefit from, from this state aid was launched on October 05 by the Ministries of Small and Medium-sized Enterprises and Social Economy and Handicrafts acting in support of local production and for the benefit of companies that had suffered the dammage of the COVID-19 pandemic.

Cameroon: Over 700 SMEs to Benefit from Government Subvention
Image

AfriqConnect! Informez vous autrement et en temps réel

Image
Image