The European Investment Bank (EIB) is looking to expand its support for small and medium-sized enterprises (SMEs) in Cameroon, focusing on increased access to credit, technical assistance, and targeted development projects, officials said Wednesday.
The announcement followed a meeting between Cameroon’s Minister of Small and Medium-Sized Enterprises, Social Economy and Handicrafts, Achille Bassilekin III, and Ramon Ynara, the newly appointed Head of the EIB Regional Representation for Central Africa, in Yaounde.
The discussion centred on strengthening financial and technical backing for SMEs, artisans, and the social economy, aligning European financing tools with Cameroonian development priorities, and expanding support to high-job-creation sectors with robust value chains.
“The domain of small and medium-sized enterprises is of enormous interest to the EIB, the bank of the European Union, and to the European Union itself,” Ynara said. He added that the bank’s engagement seeks to “do more and do better” while building on existing operations in Cameroon.
Ynara explained that the EIB typically operates through credit lines provided to eligible public or private financial intermediaries, which then transform the funds into loans for small and medium-sized investment projects. These initiatives are carried out under the guidance of Cameroonian authorities, who identify national priorities.
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Discussions also covered strategic projects, including support for agricultural value chains, financial inclusion, the digitalisation of artisan villages, and the creation of artisan clusters. Officials also explored the proposed Global Innovation Centre project, aimed at fostering entrepreneurship and innovation.
Under Cameroon’s National Development Strategy, NDS30, the ministry proposed the establishment of a dedicated credit line for the Ministry’s SME agency (BCPME), along with more flexible financing conditions, strengthened technical assistance, and a joint MINPMEESA-EIB monitoring framework. The goal is to foster a competitive, inclusive entrepreneurial landscape capable of generating sustainable employment.
Since 2020, the ministry said, a €40 million envelope has been mobilised through partner financial institutions, including Société Générale Cameroun, Commercial Bank of Cameroon, PROPME, and CCA Bank. These funds have improved access to credit for numerous SMEs, particularly in productive sectors such as agribusiness, manufacturing, and artisan enterprises.
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Bassilekin highlighted the importance of leveraging European financing tools to reinforce Cameroon’s entrepreneurial fabric. “We are looking to strengthen the capacity of SMEs, provide technical support, and create innovative financing mechanisms that encourage sustainable growth and employment,” he said.
Analysts said the EIB’s expanded engagement could significantly impact Cameroon’s economic development. By facilitating access to finance for small and medium-sized firms, the bank can help promote industrial diversification, strengthen value chains, and create jobs in a country where youth unemployment remains high.
The reinforced cooperation also comes amid a broader push by African governments to support local businesses through targeted funding and reforms, while European development institutions seek to scale their impact across the continent.
“The EIB listens first to national authorities to understand local needs, then consults the private sector, and finally works with intermediaries capable of implementing these initiatives,” Ynara said. “With all actors aligned, we can mobilise instruments that truly support SMEs and foster inclusive growth.”
Officials said the next steps will include finalising the proposed credit lines, formalising technical assistance programs, and creating monitoring mechanisms to track the results of funded projects. The ministry emphasized that the ultimate objective is to strengthen Cameroon’s small and medium-sized enterprises while improving financial inclusion, innovation, and competitiveness.
