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Cobac appoints a new liquidator for microfinance Comeci

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(Business in Cameroon) – After the death of the last liquidator in April, the Central African Banking Commission (Cobac) appointed a new liquidator to the Equatorial Company for Savings and Investment (Comeci), a Cameroonian microfinance institution that fell bankrupt since 2016.

Indeed, according to a press release published on October 8, following a decision taken since June 28, 2021, a new bank liquidator was appointed in the person of Ida Djodju Enchei. “This decision was approved by judgment No. 468/COM of September 27, 2021 of the Wouri High Court in Douala, which judgment also appointed Mrs. Ida Djodju Enchei as receiver of the liquidation Comeci SA“, we learn.

As a result, the statement said, the new liquidator invites all microfinance creditors who had not yet filed their claims to do so within 60 days. The production of claims will be made only at the headquarters building in liquidation in Douala.

All creditors should bring all the supporting documents for their claim and a sum of 3,000 FCFA representing the costs of the receipt for the production of the claim. The liquidator also invites all debtors of Comeci to approach her services to voluntarily pay their debts in order to avoid the inconvenience of forced recovery.“, specifies the press release.

The approval of the appointment of Ida Djodju Enchei comes five months after the death of her predecessor, Mr. Towoua. The latter was announced dead on April 19, 2021 as a result of illness. This had caused the suspension of microfinance debt production activities.

It was on January 16, 2018 that Cobac decided to put this Cameroonian microfinance under provisional administration.given the critical financial and prudential situation of Comeci and given the inability of its corporate officers to restore the solvency of this establishment“. Cobac then appointed a provisional administrator in the person of Bernard Mvogo, for a term of six months.

According to this temporary administrator, Comeci lost 8.281 billion FCFA during the 2017 financial year, i.e. nearly eight times its share capital. This deadweight loss is due to the failure of enforced debt collection. To attempt a rescue, discharge was given to the provisional administrator to proceed with the capital increase of the microfinance institution to the tune of 3 billion FCFA in phases, “depending on the situation and the needs of the company“. But without success.

Sylvain Andzongo

Read also:

05-21-2021-The death of Comeci’s liquidator causes the suspension of the production of savers’ claims

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