Business creation in Cameroon – who benefits from investment facilitation?

Thanks to MyBusiness.cm, an electronic platform for business registration, the Cameroon government now has an efficient tool to monitor and promote business creation in Cameroon.

CFCE

CFCE2Launched in April 2016 with the support of UNCTAD and the European Union, the system simplifies the business creation process. It has also helped to support entrepreneurship promotion policies. With real time information on business creation, the Ministry of Small and Medium Enterprises (MINPMEESA) and the National Agency for SMEs (APME) can also improve the targeting of their audience.

Who is setting up businesses in Cameroon? After a year in operation, MyBusiness.cm brings precise answers based on information collected from the 11’000 registered enterprises:

  • Most of them are individual enterprises (80%)
  • Only two thirds request registration in the Trade Register (all file taxes)
  • For 80%, forecast annual turnover does not exceed 15 million FCFA (25,000 USD)
  • Less than half say they want to hire employees
  • The leaders are predominantly Cameroonian (98% for individual enterprises, 92% for companies)
  • Individual entrepreneurs are typically between the ages of 30 and 45 (56%, compared with 20% for those aged 21-29)
  • The overwhelming majority are men (71%)

MyB.cm - CFCE DoualaThis is the first time that the Ministry of SMEs and the National Agency of SMEs have such detailed information on the registration of enterprises in CFCEs (official one-stop shops for business creation). It has enabled them to adjust the services offered to operators.

UNCTAD is collaborating with the Enterprise Observatory (APME) to improve the business registrations tracking system and get a much more detailed picture of business creation in Cameroon.

MyBusiness.cm has been installed at the CFCE in Garoua, Yaoundé and Douala. It covers the North, Central and Littoral regions.

Related

MyBusiness.cm: register your business online

Cameroon is now the first OHADA country to propose an online single window for business registration. It also joins the very short list of 28 countries around the world proposing simultaneous business registrations online, as stated in the Global Enterprise Registration Index.

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