What is the relationship between insurance and the activities of SPX-CMR that led to a partnership agreement with an insurance company?
The Subcontracting and Partnership Exchange of Cameroon works daily to promote industrial subcontracting in our country. The main objective of SPX-CMR is to provide local manufacturing companies with the tools and services that enhance their performance, practices, and access to industrial subcontracting markets. Specifically, SPX-CMR aims to:

• Increase production levels, employment, and investments in the industrial subcontracting sector;
• Improve productivity and competitiveness at the national, sub-regional, and international levels;
• Enhance local products, their manufacturing processes, and the competitiveness of SMEs;
• Promote import substitution and the export of processed products;
• Contribute to the redeployment of manufacturing facilities and thus to the transfer of industrial technology and know-how to SMEs;
• Foster industrial integration within CEMAC and ECCAS;
• Develop local content (national preference).

To easily obtain financing and gain the trust of contractors, SMEs must demonstrate compliance with tax authorities and their commitment to corporate social responsibility (CSR), which is now a universal concern. Insurance is therefore one of the pillars of CSR and a presumption of competence and guarantee for the proper execution of certain contracts. However, many of our SMEs neglect this important tool or face difficulties in securing winning contracts with insurance companies. Our commitment to an agreement with AREA Assurance aims to address these shortcomings.

What is the purpose of the partnership, and what does it contribute to the promotion and development of SMEs?
SPX-CMR is convinced that improving the culture of insurance in SMEs is essential for their growth and resilience against various risks. Well-insured companies have better credibility in their investment approaches with financial institutions and in partnerships with international firms. This is the purpose of the partnership, which aims to establish coordinated initiatives to promote the culture of insurance while facilitating connections between the SMEs in SPX-CMR’s portfolio and large national and international companies.

How will this work in practice?
Both parties have obligations based on their core business. SPX-CMR will promote the culture of insurance and risk management within companies for better resilience and will benefit from AREA's expertise when necessary. Specifically, we will:

• Communicate about this partnership on all SPX-CMR platforms;
• Establish insurance prerequisites based on activity for joining SPX-CMR;
• Request support from AREA Assurance for companies within the framework of partnerships with international firms;
• Organize training sessions or workshops on best insurance practices.

What will AREA do?
AREA will provide its expertise in supporting our SMEs and subcontracting companies, particularly in:

• Assessing the specific needs of SMEs and subcontracting companies;
• Analyzing necessary and optional guarantees;
• Proposing insurance solutions tailored to SMEs and subcontracting companies;
• Implementing insurance contracts;
• Regularly monitoring and reevaluating the insurance of companies;
• Conducting insurance seminars and workshops;
• Financial optimization of insurance;
• Providing insurance guarantees for investment or infrastructure partnership projects that require specific guarantees.

Does the agreement have a duration?
It has a duration of three years from the date of signing and is renewable by tacit agreement unless terminated by either party.

What is the current role of agreements and partnerships in the deployment policy of SPX-CMR?
SPX-CMR positions itself as a hub that brings together all the necessary facilities for the comprehensive development of subcontracting SMEs. To achieve this, we now gather the entire ecosystem essential for the growth of SMEs. Today, once a SME is affiliated with SPX-CMR, it benefits from advanced training to enhance its performance, ease of obtaining all essential certifications and standards to work with any type of contractor, opportunities for support from insurers in their activities, access to financing, business trips, and participation in trade shows and fairs in Cameroon and abroad to secure partnerships, contracts, and subcontracting opportunities with national and international contractors, among others. All these opportunities offered to SMEs are made possible, in part, through agreements we sign with numerous organizations for the benefit of our SMEs. Establishing useful agreements and partnerships for the benefit of SMEs is more than necessary.