How Entrepreneurship will Shape the Future of Cameroon by 2035

May 15, 2018

Entrepreneurs are drivers of innovation, economic growth and are keen to bring positive changes in societies.

By dismantling monopolies, creating new markets, and tackling old problems with new technologies, Entrepreneurs prove to foster more competitive economies and are enablers of shared prosperity whilst they rapidly adapt to global economic trends.

Regardless of their language, level of education, social status or cultural background, young people have embraced entrepreneurship and see it as a means to achieve social and economic development.

However, in order to succeed in the start-ups created, in order to create jobs and have a significant impact in their communities, the serious engagement and commitment from the government and the private or public financial sectors must be involved.

This is why arguably, a bright future for Cameroon will depend on Entrepreneurs.

Even though Cameroon is applauded for its cultural diversity, it is derided for its loss potential on the economic front.

The issues confronting the nation are enormous and complex, certainly in light of time expectations from citizens, a lack of financial and material resources currently plaguing the ailing economy.

To reach the President’s 2030 vision, the entrepreneurial sector has to play a valuable role because creating jobs and spreading wealth beyond the prosperous top layer is only possible via the widespread funding and nurturing of enterprises.

And I say there is some urgency here, without which a radically higher growth rate will not be attained. For Cameroon will not be able to create the ten to twelve million jobs necessary to cope with the population expansion expected over the next twenty years.

It is therefore the government’s responsibility to act now, so as to curb the challenges faced in the energy sector, construction, food scarcity and environmental degradation. Growth therefore needs to be rapid and will require all the ingenuity and innovation Cameroon can muster. This ingenuity and innovation can only come from a vibrant and energetic youth who are fighting on a daily basis to raise the standards of a dwindling socio-economic system.

It is indeed an exciting time to be an Entrepreneur in Cameroon as Entrepreneurship has become part of the Cameroonian identity. It is non-partisan too permitting all political parties to celebrate Entrepreneurial businesses as a fount of innovation and growth, they also see these ventures as a route to upward mobility and a way for average people who are made up of the youth to build wealth.

With a ‘Made-In-Cameroon’ drive, that is focused on boosting local manufacturing produces, an ‘Invest-in-Cameroon’ drive that is focused on bringing in foreign direct investment, lots of needs are being met tentatively.

The increased digital empowerment is making the country gain competitive advantage on an international scale as we witness on a regular basis the promotion of tech-enabled businesses that are revolutionizing industries such as health care, education, energy and B2Bs.

However, hundreds of young people are still milling through different trade exhibitions across the country courting local financial institutions to no avail. Young people are faced with a lot of challenges when starting their own businesses. Challenges such as access to funding, skills development, better infrastructure and quality network opportunities need to be addressed.

And if Cameroon’s population is made of 68% of young people, then these people must be encouraged to make it on their own. In the process of becoming business owners they create much good – both on a national and local scale. The weight of their importance can not be measured in monetary terms.

If we want to create a shared future in a fractured country, a supportive environment for young people must be created.

Stating the fact here that the unemployment of young people in any society leads to high crime wave, poverty, physical and mental illnesses will be redundant. For this is well  known! To curb these ills, Government therefore must ensure a conducive business environment, enforce flexible policies that promote private entrepreneurship.

Personally I think the private sector has the power to drive the transformation agenda as they put in more efforts and are rigorous in the engineering of innovative solutions to solve problems and challenges plaguing our society as a whole.

In my opinion, Entrepreneurship and not politics will give hope or better living conditions to Cameroonians for the welfare of a nation begins with a comfortable life lived by the person on the street.