Le Financement des PME au Cameroun dans un Contexte de Crise Financière

SMEs Financing issue in Cameroon in the context of Financial Crises

Christian Nguena

MPRA Paper from University Library of Munich, Germany

Abstract: Still today Cameroon is suffering from a shy landscape of entrepreneurship and a private sector constituted at 90% by SMEs confronted to a lack of funding; The situation tends to increase with the advent of financial crisis. It is in this framework that this study tries to make an identification and evaluation at descriptive and econometric levels of responsibility of actors involved in the financing problem faced by SMEs in Cameroon. Using a multinomial logit model we estimated our variable “Principal funding source” on the basis of survey data on funding actors. From a sample of 413 SMEs in Cameroon, the results show that the external financing gap is explained by the lack of accounting information, the legal status of SA and SA Ltd., the activity in industrial sector, the small number of employees, the high interest rates and long-term borrowings. These last factors have been growing due to financial crisis. These results have led us to call these actors on challenging decisions they have to take according to their responsibilities level towards SME external financing gap.

Keywords: SMEs; Financial structure; Financing gap; External financing; Information asymmetry. (search for similar items in EconPapers)
JEL-codes: C51 D22 G2 (search for similar items in EconPapers)
Date: 2012-01-01, Revised 2013-09-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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