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Barely 30% of CEMAC’s microfinance institutions transmit credible reports to CABC

Business in Cameroon | For about a month now, the Central African Banking Commission (CABC) has been popularizing the use of its platform “E-Sesame” for the elaboration of microfinance institutions’ reporting framework.

According to Maurice Christian Ouanzin, the commission’s general secretary, this platform will help correct the reporting mistakes usually identified by CABC as far as the off-balance-sheet commitments, risks division and statistics are concerned.

According to the secretary, the precedent reporting were not as successful as CABC would want to because out of the 700 microfinance institutions it authorizes, barely 30% transmit credible reports on a regular basis. The banking commission thus wants to reverse that trend.

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  1. it is not realistic to put wrong information in peoples minds that there exist banks that will finances thier projects in exchange for nothing.this is simply unrealistic because banks are commercial activities created to generate income for the owners.it is by studying the KOREAN AND JAPANESE system of industrialization that i understood the system in our villages called MFEH in metta should have been valorised,improved and institutionalized to play the rule of economic promotion.this system where everybody in the village contributes money to fund a single project for collective advancement should have been tied to the village bank,and a sort of cross shear holding installed where the village bank controls industrial investement in return for small interest rates.

    • Bah [email protected] completely agree ,it makes everybody responsible to look into the best most wise way of a step by step ,,based on posative results private industrial investment relevent to each area at a later date.Starting with free seasonal Seed swapping and discussions on whats useful at local markets in neighbouring regions can turn into well defined financial agreements later on when everyones worked with each other over a period of time.It also helps finding the right qualified people to be in any projects where everybody has a financial stake so its based on experience and passed delivery rather than who you know.