the Town Hall of Douala will launch its microfinance

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The announcement was published on October 15, 2022 by the Mayor of Douala. Visiting Canton Akwa as part of his tour of the superior chiefdoms of Wouri and other traditional communities of Douala, Dr. Roger Mbassa Ndine revealed the existence within the Urban Community of Douala (CUD) of a project creation of a microfinance.

Unfortunately, the city councilor of Douala provides few details on the project mentioned. However, Dr. Roger Mbassa Ndine had opportunely been challenged on the issue of youth employment and the empowerment of women in the Canton Akwa. The creation of this credit institution, he replied, “will provide concrete solutions to solve the question of employment, self-employment, and empowerment”.

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From good sources, the idea of ​​opening a microfinance facility within the Urban Community of Douala was born out of numerous financial requests from underprivileged strata and poor people in Douala, to the Town Hall of Douala. Within the framework of the axis relating to the accompaniment of the deprived social strata, the Mayor of Douala launched this reflection within the community executive: “reflections are currently carried out for the finalization of this initiative whose goal is the funding for youth and women’s projects,” added Dr. Roger Mbassa Ndine.

The date of the first half of 2023 has been announced for the finalization of the process of creating this financial institution. The approach of the Mayor of Douala is based on the provisions of the General Code of Decentralized Territorial Collectivities, in its article 10 which stipulates: “decentralized territorial collectivities can, within the framework of their missions, carry out projects in partnership with them, with the State, public establishments, public, semi-public and private sector companies, civil society organizations or external partners under the terms and conditions set by the law and regulations in force”. Article 37 of the same Code also indicates that “decentralized territorial communities may create local public establishments or enterprises, in accordance with the legislation in force applicable to public establishments, enterprises or companies with public participation and legal persons governed by private law. benefiting from financial assistance from the public authorities.

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Pending a deliberation by the Community Council which will be introduced during the next November session, and the required administrative formalities, speculation is going well on the contours of microfinance: name, capital, shareholding, future general manager, etc. ….The future microfinance will be the second institution of this type, created by Dr. Roger Mbassa Ndine since taking office in 2020. This, after the Autonomous Roads and Constructions Board created on May 17, 2021.

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