Microfinance in Cameroon goes by means of an unprecedented disaster! As of April 30, 2025, a minimum of 578 microfinance institutions (EMF) have been recognized on the nationwide territory, however an alarming variety of them are presently in chapter or require an pressing restoration. Confronted with this essential scenario, the Minister of Finance, Louis Paul Motaze, has simply launched a name for candidates to pick brokers liable for restoring the actions of the institutions involved. An important initiative that might decide the way forward for a whole sector important for monetary inclusion.
“This listing of economic specialists has change into important for the promotion and sanitation of the sector,” mentioned a senior official of the Ministry of Finance. The decision for candidates, open till June 2, is aimed toward all monetary specialists with confirmed expertise within the administration of microfinance establishments in problem.
This initiative is a part of the regulatory framework of the Banking Fee of Central Africa (COBAC) which oversees the sector. Relying on the texts in drive, the chosen specialists may have the mission of presenting or restoring the conventional working circumstances, and even guaranteeing the legal responsibility of the institutions involved.
The scenario is especially worrying for first class EMFs, whose whole deposits stays beneath a billion FCFA. The COBAC regulation offers particular provisions within the occasion of liquidation, certified as “simplified” on this context. The financial authority can designate a provisional administrator on the premise of a pre -established listing, therefore the significance of this name for candidates.
To say this strategic operate, candidates should meet a number of necessities: to be a pure or authorized particular person bringing collectively all of the experience circumstances required by banking laws, justify stable skilled expertise and have confirmed experience within the banking discipline.
This strategy comes as a number of EMFs have not too long ago been the topic of drastic administrative measures. Certainly, the COBAC has pronounced the provisional administration of an underwear particular to the initiative of social leaders, thus illustrating the desire of the authorities to additional construction this important sector for the Cameroonian economic system.
The chosen brokers may have the heavy job of diagnosing the circumstances which led to the provisional administration or the liquidation of the institutions, whereas taking inventory of their present monetary scenario.
Do you assume that this knowledgeable’s choice initiative will probably be sufficient to straighten the microfinance sector in Cameroon completely?
