new grumbling from ex-Comeci savers

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“Enough is enough, we claim the payment of our savings”. This is the claim slogan of the Collective of ex-clients of Comeci SA (Equatorial Company for Savings and Investment Credit), microfinance bankrupt and placed under provisional administration, then in liquidation. Rendered to about 3 years of judicial liquidation, these ex-savers plan to challenge, by various actions, the Cameroonian administrative and sub-regional monetary authorities, on the slowness and dysfunctions of the process.

Read also: Microfinance: confusion around the payment of debts to Comeci SA

“It’s been several years since this microfinance, bringing a lot of hope for the lower classes, closed the doors, swallowing up the billions made up of the small savings of thousands of Cameroonians for whom, at the time, access to conventional banks was a real . So many personal economic micro-projects pushed towards bankruptcy. And what about the cultural associations which had to be shattered, all because they no longer had access to their money placed with Comeci”, indicates Achille Azemba, spokesperson for the Collectif des ex-clients de la Comeci SA Who observes moreover that “since the closure of Comeci, radio silence on the part of the administrative authorities, and also of the liquidator. What is being done and by whom? When exactly will ex-savers be able to regain possession of their savings? he wonders.

Read also: Microfinance: Comeci allegedly withdrew 28 million F from a saver’s account

After its bankruptcy in 2016, and its declaration of cessation of payment, on April 27, 2019, by the Wouri High Court, the COBAC (Central African Banking Commission) will place this credit institution under provisional administration, the January 16, 2018. The sub-regional prudential institution will appoint for a 6-month term, Bernard Mvogo, to lead this process. This, “in view of the critical financial and prudential situation of Comeci and given the inability of its social leaders to restore the solvency of this establishment”, indicated Cobac.

Bernard Mvogo’s mission focused precisely on increasing the capital of microfinance to the tune of 3 billion FCFA in phases, depending on the situation and the needs of society. This challenge ended in failure due to the complexity of the accounts and the lack of traceability of accounting operations. Its pure and simple liquidation will then follow. A liquidator in the name of Mr. Towoua will be appointed. The latter will unfortunately die before the end of his mission, on April 19, 2021. He will be replaced by decision of June 28, 2021 from Cobac. Decision which will be approved by judgment No. 468/COM of September 27, 2021 of the Wouri High Court.

Read also: Microfinance: investigation into Comeci’s descent into hell

The liquidation process has been led since this date by Ida Djodju Enchei, the receiver of this liquidation. Who will publish a press release on October 4, 2021, inviting “all Comeci creditors who had not yet produced their claims to do so within 60 days”. In addition, Ida Djodju Enchei reminded all Comeci creditors to 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. Nothing since.

Former Comeci customers are all the more worried as their savings books have been taken away from them. Absolutely confusing situation at the moment. That all the decision makers in charge of this dossier from near or far come out of their lethargy and take, in a short time, the right decisions allowing savers to regain possession of their money, because enough is enough. And they will now take their responsibilities so that justice is done, ”warns the spokesperson for this collective. Recall that according to the conclusions of the 2018 provisional administration, Comeci lost 8.281 billion FCFA during the 2017 financial year, i.e. nearly eight times its share capital. Deadweight loss that would be due to the failure of the forced collection of receivables.

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