This is one of the recommendations taken at the 11th session of the Cameroon Business Forum (CBF), on October 22, 2020 in Yaoundé.
The Cameroonian government plans to reduce the minimum capital for the creation of Limited Liability Companies (SARL) from March 2021.
This is one of the measures of the priority action plan presented at the end of the work of the 11th session of Cameroon Business. Forum (CBF), the platform for exchanges between the government and the private sector, held on October 22 in Yaoundé.
In fact, it was recommended to “reduce the minimum capital threshold from 100,000 FCFA to 5,000 FCFA for Sarl that do not have recourse to a notary”, at the end of March 2021. If this measure is applied, this would represent a decrease 95,000 FCFA in the context of the creation of this type of business.
The implementation of this measure has been placed under the responsibility of the Ministry of Justice, the one in charge of SMEs and the Business Creation Formalities Centers (CFCE), which are one-stop shops facilitating procedures for setting up businesses in Cameroon .
The CBF also recommended “to encourage the private sector to use private deeds. This would, among other things, improve Cameroon’s ranking in the Doing Business report produced by the World Bank.”
Before the minimum capital to create an LLC was set at 100,000 FCFA, remind our colleagues, “economic operators had to pay, a few years ago, the sum of one million FCFA to create a company of this category in Cameroon ”.
