Digital economy and entrepreneurs’ challenges in Cameroon

When we talk of digital economy, we mean the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies (ICT). Digital economy reflects the move from the third industrial revolution to the fourth industrial revolution. Although some organizations and individuals use technologies to simply execute existing tasks on the computer, the digital economy is more advanced than that. It is not simply using a computer to perform tasks traditionally done manually or on analogue devices. Instead, the digital economy highlights the opportunity and the need for organizations and individuals to use technologies to execute those tasks better, faster and often differently than before. According to the European Commission, digital economy represent 5,9% of the GDP in Europe and 7,5% in US. In Cameroon, it represents about 3,5% of the GDP (Tchofo 2016). During his address to the youths in 2016, President Paul BIYA has invited them to create jobs and innovate within the digital economy framework.

When we look at Himore Medical, Cap-18, Sukulu and Jangolo, we realise that numerous Cameroonians entrepreneurs are seizing on the technologies that fuel the digital economy to create new companies and new business models that could not have existed, or existed at the size and scale they do today, in past generations. These initiatives though saving ones did not really witness warm welcome. In fact before the innovative project is given birth to, the challenges can track it down. The first and foremost challenge is the financial need. Generally this young entrepreneurs have nothing else than their skills. Due to lack of warrant, banks closes their doors to them. Also scarcely do sponsors and relatives believe in them and even if they do they don’t have enough money to give to them for the project. Another challenge is the absence of adequate infrastructures. The ICT framework is not really encouraging in Cameroon. Internet network is poor and ICT tools steal very expensive. There is also the administrative procedure of creating an enterprise which is so heavy and sluggish and thus not encouraging. In addition to this, entrepreneurs need a vital incubator sphere. Though some of them exist they are not dynamic enough to make these economic activities known by the large public at the national as well as the international level. From promises to action, may be it is high time the government put in place a real vibrant incubator and facilities needed for these innovative enterprise to shine and make us proud.

ZEBAZE CHOUNNA Annie S.