Youth Entrepreneurship

BC-PME SUPPORTS YOUTH ENTREPRENEURSHIP

With the aim of facilitating the integration of young people into the job market, the government has undertaken commendable actions to promote an entrepreneurial culture, which is essential for the empowerment of the young population. It is in this context that the government has implemented numerous public policies to support young people, providing them with technical and financial assistance.

Today, the Banque Camerounaise des Petites et Moyennes Entreprises (BC-PME SA) has become a significant catalyst for addressing the challenging issues of financing and supporting young project initiators, who are considered small and medium-sized enterprises in Cameroon. As a public credit institution in operation since July 20, 2015, BC-PME operates through two (02) branches (Yaoundé and Douala) and serves a portfolio of over 8,000 clients with approximately 70 billion in credit extended to its clientele.

To elevate Cameroon’s economic and industrial levels, young enterprises must present innovative and sustainable projects capable of generating stable employment and contributing to boosting the country’s economic growth. These projects are identified within the sectors outlined in the National Development Strategy (NDS30) as growth-driving sectors.

On February 15, 2022, BC-PME entered into a partnership agreement with the Ministry of Youth Affairs and Civic Education (MINJEC) to support the Special Three-Year Youth Plan (PTS-Jeunes). This program arises from the President’s determination, which aligns with the National Development Strategy 2020-2030 (NDS30). The plan sets the course and focuses the government’s actions on accelerating growth, accumulating national wealth, achieving structural transformations for Cameroon’s industrialization, improving living conditions, providing access to basic social services, creating formal employment, and significantly reducing poverty.

With a budget of 102 billion held by MINJEC for funding 5,485 projects since 2017, the PTS-Jeunes initiative aims to facilitate socio-economic integration of young people through business creation and self-employment. The program targets individuals aged 15 to 35, operating in sectors such as crafts, agriculture, industry, livestock, digital economy, and technological innovation.

The partnership between BC-PME and MINJEC aims to define an appropriate framework to ensure the successful implementation of this support activity and achieve the objectives set in the partnership.

It’s worth noting that MINJEC has already established a system providing both financial and non-financial support to young entrepreneurs. BC-PME is now enhancing this support system by serving as a catalyst for the socio-economic integration process of young people, offering increased and well-managed financial support. BC-PME contributes its expertise in financing, which is at the core of its business, to complement and strengthen the existing support framework.