Promoters of Small and Medium-sized Enterprises, SMEs and handicraft sectors in Cameroon will soon be distributed the sum of FCFA 2 billion in a bit to relaunch their activities crippled by the Coronavirus pandemic.
The information was announced Monday October 5 by the Minister of Small and Medium-sized Enterprises, Social Economy and Handicraft, Achille Bassilekin III during a press conference in Yaounde.
The money will come from the Special Fund for post-Covid-19 recovery created by the Head of State, Paul Biya to help promoters of SMEs relaunch their activities.
Speaking at the press conference, Minister Achille Bassilekin said the FCFA 2 billion will finance two activities: 1.5 million for direct support to SMEs highly affected and FCFA 500 million for support to craftsmen and actors of Cooperative companies involved in the fabrication of locally-made face masks and hydro-alcoholic gels.
He added that in order to be eligible to the said funds, enterprises will have to justify their legal status, operate in a sector that has been hard-hit by the Coronavirus pandemic, notably the transformation of local products, digital economy among others.
As far as handicraft enterprises and craftsmen are concerned, the condition to benefit from the fund is to be a Cameroonian/Cameroonian handicraft company, be registered in a handicraft council office for at least three years, belong to the cosmetic or textile sector and most importantly be involved in the fabrication of facemasks or hydro-alcoholic gels among others.
The promoters of the said enterprises are expected to submit their documents for selection, after which the selected files will be sent to the Ministry of Finance for payment.