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PROSPECTIVE: take Interest In Existing Opportunity

Social security in Cameroon before 2014 was a reserved privilege for a selected few who found themselves in the formal sector. These included those serving as public servants, State corporations and parastatal workers as well as some private companies. These class of people, we gathered from concordant sources constitute just about 20 per cent of the working population. The government was quick to notice this discrepancy and decided to extend social security coverage to all and sundry. Thus in 2014, the Prime Minister, Head of Government signed a decision establishing voluntary insurance scheme opened to independent workers and the informal sector. The old-age pension scheme for this class of people was greeted with mixed feelings by the various groups concerned especially as most do not have a fixed income. The scheme instituted through a Prime Ministerial order and implemented by the National Social Insurance Fund extends social security to independent workers like truck pushers, traders, barbers, taxi drivers, motor-taxi riders amongst others who can voluntarily subscribe to the National Social Insurance Fund. The move by the government established justice and equity in the social security system in Cameroon with about 80 per cent of the active population involved in the informal sector. It is interesting to note that the scheme has registered some 152,000 subscribers since it was launched three years ago. Pundits however say that the number is still not satisfactory given that mill...

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