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the liquidation of Crédit Mutuel launched

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It is by decision D.2018/462 of September 20, 2018 that the Central African Banking Commission (Cobac) closed the provisional administration of “Crédit Mutuel”, a 1st category microfinance institution placed under this temporary management regime. The same decision also withdrew the approval of microfinance, opening the procedure for bank liquidation. Emmanuel Eboathe bank liquidator appointed on December 17, 2018 by decision D. 2018/586 of the Cobac explains: “ It is a regulatory procedure to be followed when a microfinance is put into liquidation. “.


>> Read also – Two microfinance establishments put into liquidation by Cobac


A recent press release from Emmanuel Eboa informs all creditors of microfinance in liquidation of “the opening of the procedure for the production of their claims as of February 28, 2019”. According to the liquidator, it is a regular procedure which consists in collecting and registering the supporting documents of the potential holders of claims and sureties: “ At the end of this operation, we will clearly know the number of creditors and the amount of claims », Explains again Emmanuel Eboa. At the end of this procedure, which ends on March 26, a liquidation of the assets will then be considered.

Recall that several microfinances operating in Cameroon have experienced varying fortunes: Cofinest, Amicale Finance, City Trust Credit Fundy, Cadeci, Cofinest, Fiffa, Capol or Gbf have successively gone bankrupt.

Emmanuel Eboa says he cannot give the exact amount of receivables due or the number of savers involved in this operation. It should be remembered that several microfinances operating in Cameroon have experienced varying fortunes: Cofinest, Amicale Finance, City Trust Credit Fundy, Cadeci, Cofinest, Fiffa, Capol and Gbf have successively gone bankrupt, revealing an extremely fragile in Cameroon.



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