[Cameroon] 412 microfinance institutions greenlighted to operate in 2017

The Cameroonian Minister of Finance, Alamine Ousmane Mey, has published the list of 412 approved microfinance establishments, who are authorized to carry out their activities in Cameroon during 2017.

This is a drop from the 500 establishments in 2015, and 418 only in 2016, with the drop being attributed in part due in to cancellations of approvals against some structures, and the management problems which they have been facing recently.

Indeed, after the bankruptcy of Cofinest and Fiffa some years ago, Crédit Mutuel and Comeci are in trouble, Société Financière Africaine (SFA) was put under administration, while Binum Tontine, Djagui du Cameroun and Mutuelle de Développement et d’Investissements du Cameroun (MDIC) simply had their approval withdrawn.

www.minfi.gov.cm