402 microfinance institutions authorized to operate

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Posted on June 15, 2022 at 2:53 p.m. by Esther Fossi

The Ministry of Finance has made the list of approved establishments public.

These microfinance establishments (EMF) are distributed among others on the one hand by independent structures, those of second category and those constituted in network.

In detail, the Adamaoua region, for example, has three independent MFIs, ie 01 of the first category and 02 of the second category, while 07 others are networked. The Center region has 16 independent first-category MFIs and 28 second-category MFIs, compared to approximately 25 formed into a network. For the Eastern region, 03 EMFs are registered.

In the Far North, only one first category EMF is registered for a total of 10 structures. The Littoral has nearly sixty establishments, while the North has only eight. The North-West, for its part, records more than a hundred EMFs. About 80 are settled in the Western region and more than sixty in the Eastern region.

“It is strongly recommended that microfinance institutions that have not yet fully complied with the requirements of the new regulatory framework governing microfinance activity in the CEMAC zone, initiate or finalize the due diligence necessary for their implementation. effective compliance before the end of the moratorium set for December 31, 2021 according to the decision “Warned the Minister Delegate, to the Minister of Finance (Minfi) who published the list of approved microfinance institutions in Cameroon.

As a reminder, the regulations of the Central African Banking Commission (Cobac) of July 30, 2020 set, among other things, the share capital of microfinance institutions at 300 million FCFA for those in the second category and 150 million FCFA for Third-tier microfinance.

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