The purpose was to help them take advantage of funding opportunities.

Some 60 young entrepreneurs have received skills to enable them secure funding for projects. The young people met with professionals from the banking sector during a workshop by Cameroon Youth Synergy at the Meridien Hotel in Douala recently.

Before now, the entrepreneurs faced difficulties in presenting project proposals worth funding. Marius Baha, Risk Management Director at the Bank for Small and Medium-size Enterprises, said the major challenges were poor structures and inadequate finance on the part of enterprises.

While debriefing them on the necessity of having in place good structures and financial accounts, he warned that where these were absent, the enterprise may collapse or be denied loans by banks. He attributed this to the situation at FOGAP, Camair, PIASSI, and PAJER-U, among others.

The youths blamed banks for difficult loan requirements and the need for sureties, which are often beyond their ability. In response, Marius Baha alluded to two projects financed by the Bank of Small and Medium-size Enterprises without guarantee. “What banks most often look for is good projects with prospects for profit,” he noted.

“We have created contacts, good networking and information exchange with other entrepreneurs; and this will be helpful for our growth,” explained one of the participants, Madiba Olivier, founder of Kiro’o Games. According to him, the image of the country and lack of trained personnel were major difficulties for financing.

With theme, “Take advantage of funding opportunities,” the workshop was facilitated by Marius Baha and Matine Bessala Tsala, Deputy Director of Loans at BICEC. It was chaired by the President of Cameroon Youth Synergy, Hiram Iyodi.