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Canadian Senorav pulls CDC Bomtock microfinance from interim administration

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(Business in Cameroon) – Under provisional administration since 2018, the Community Development Savings and Credit Cooperative of Cameroon (CDC Bomtock), a microfinance institution with 2and category with a capital of 450 million FCFA, announces that it is out of the woods. Indeed, says the establishment in a legal announcement, the provisional administration was lifted on March 28, 2022 by the Central African Banking Commission (Cobac).

During the provisional administration, a new shareholder by the name of Senorav Investments Inc entered the share capital of Cameroonian microfinance. This made it possible to improve its financial situation and the prudential ratios required by Cobac. But microfinance is careful not to provide information on the cost of the transaction and on the new geography of its capital because of this equity investment.

Senorav is a company based in Canada and registered as a real estate agency. It was incorporated 17 years ago. This company is not its first investment in Cameroon. In 2019, Senorav took a stake in the capital of another microfinance Alpha Fund. Through this partnership, the Canadian investor has committed to help Alpha Fund SA modernize its operations, use the “DirekMoney” platform to develop the remittance activity and access international financing for Cameroonian farmers. .

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