FCFA Four Million for Douala II Young Entrepreneurs

For many, the celebration of the National Youth Day commemorated every February 11 revolves around a march past, wining and dining. But the youths of the Douala II municipality were able to transcend this level, by engaging on life changing ventures.

Last February 11, 2013, the Mayor of the Douala II Council, Denise Fampou organised a Business Plan competition, whereby 18 youth associations and Common Initiative Groups submitted their business plans. Among these, five were retained and shortlisted for financing. The award ceremony held at the Douala II council premises last Friday, September 27, 2013.

The beneficiaries could hardly contain their joy, given that their quest for financing has been met by the Mayor. The FCFA 4 million financial package was distributed as follows: FCFA 300,000 to ADNA Association to mount a beauty institute; FCFA 500,000 to APERED, an association promoting the socio-economic re-insertion of minors under detention at the Douala Central Prison in New Bell; FCFA 700,000 was awarded to CANTA Association to finance the setting up of a block-fabrication unit at New Town Airport. NETE Common Initiative Group bagged FCFA One million to fund the conditioning and packaging of tea. Lastly, Diaspo House Association based at the New Bell Youth Centre, grabbed the jackpot with FCFA 1, 5 million to boost their activity which is the collection, treatment and transformation of plastic garbage into usable products.

Addressing the recipients, the Mayor explained that the council obtained a FCFA 10 million credit with low interest rate, geared towards promoting the activities of the local population.