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Cameroon announces 76bn FCFA to finance SMEs

APAnews | Access to funding for small and medium-sized enterprises (SMEs) will be easier during the current fiscal year, through the opening of a credit line of 76 billion CFA francs to the Cameroon Small and Medium Enterprises Bank (BCPME), APA learned on Tuesday from bank internal sources.

According to reliable information, “projects for 76 billion CFA francs are awaiting funds”.

The same sources maintain that interested business promoters can develop their projects and submit them to the relevant authorities.

Indeed, “the bank has in its two agencies in Douala and Yaounde, bankable projects at an estimated cost of 76 billion CFA francs, which await financing.”

For BCPME officials, the statement of Cameroonian President Paul Biya during his New Year Address to the Nation on December 31, announcing that access to bank credit will be facilitated to SMEs, sounds “not as a hope, but as a certainty that the public authorities will put at our disposal means to support SMEs.”

SMEs, which account for nearly 90 percent of Cameroon’s economic structure, face enormous difficulties in accessing financing, because of the “reluctance” of banks that doubt their ability to repay contracted loans.

According to observers, with this line of credit open to BCPME, SMEs, which account for about 35 percent of the country’s GDP, have the opportunity to densify and expand their activities.

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4 comments

  1. Two agencies in Douala and Yaounde. That`s interesting. One and indivisible country.
    Our God, died long ago.

    • Africans For Donald trump

      Even God is not aware of the existence of the delusional ambazombie land. You have no God besides the abducted sicksiku ayuk tabe and his band of coward terrorist conmen!

      • What has this got to do with the equitable distribution of resources in Cameroon? Imagine a farmer in Nkambe, Akwaya, a pygmy in the forest of the deep South or a nomad in the far north, needing funding, how on Earth are they ever going to access these funds?

        This is the reason that there has been broad talk on federalism in the Anglophone community for years, mainly because Biya’s decentralisation is only written on paper. It is like many of the laws he approved and signed but which have never been enacted.

        What happened to the law that was passed that before assuming a public office, one most declare his or her assets? Yet, recently passed draconian laws under the terrorist Act, because of Boko Haram, are now being used to hunt innocent citizens. That is Biyarism for you knuckle head.

  2. Your dull mentality makes you sound odd.