Recommendation to Transform Bureau of Business Upgrading (BMN) into National Upgrading Agency: Mazars Study

International firm Mazars has recommended transforming the Bureau of Business Upgrading (BMN) in Cameroon into a national agency to enhance the country’s financial restructuring policy. The suggestion comes after a study on the challenges faced by Cameroonian companies and the gaps in existing institutional mechanisms. Mazars emphasizes the need for coordination among state interventions to avoid inefficiency and duplication of efforts.

By centralizing and coordinating these interventions, a national agency could ensure a harmonized and coherent approach to business restructuring. This recommendation aligns with that of the United Nations Industrial Development Organization (UNIDO), which also advocates for transforming the BMN into a viable and autonomous agency. The government is reportedly receptive to this transformation, as a draft text prepared by the Ministry of Economy aims to evolve the BMN towards a more representative status.

However, the survival of the BMN is currently threatened by a lack of funding from international donors. The organization’s strategic plan reveals significant financial needs to carry out the upgrading of 600 Cameroonian companies over the next four years. These financial needs underscore the importance of institutional reform to ensure the success of initiatives within the framework of the National Development Strategy 2020-2030. The transformation of the BMN into a national agency could potentially enhance collaboration with international partners, financial institutions, and private sector actors to promote innovation, growth, and competitiveness in both domestic and international markets.