Ecobank to strengthen the capacity of Cameroonian SMEs

Ecobank Cameroun has taken the steps of other subsidiaries in Africa by launching 'Ecobank SME Club', a forum through which the company looks at strengthening the capacity of Cameroonian SMEs.

With this initiative, the Pan-African Bank noted that it wants to support the development of the small and medium-sized enterprises in Cameroon (SMEs).

"We take note, just like the authorities elsewhere, of the importance of SMEs in the economic system," said Moustapha Fall, Administrative Director General of the Bank, at the end of the meeting with the press.

According to Nicholas Achiri Asangwe, administrative Director of Domestic Bank at Ecobank Cameroun, "the idea is to give importance to SMEs through a club, of course with certain criteria", he added. It was revealed that all sectors involved in the innovation will have their members benefit from the advantages during their operations within the Bank.

"The SMEs beneficiaries can easily have access to finance, at preferential rates. They will have to create a network of other SMEs in the 36 countries where Ecobank is present. Through training, they will have information about the profitable economic sectors. We will meet them once a year in a country of choice and they will have the information for the proper functioning of an SME," noted Nicholas Achiri.

But to access them, they must meet a number of criteria. The first is to be already a customer of the Bank. Interested small and medium enterprises must also carry out an activity generating a turnover or an annual minimum of entrusted engagements of 500 million Cfa Francs at Ecobank.

Other criteria include the basis of job creation, the level of penetration in rural areas and the level of contribution to economic development. The members of this SMEs club according to their economic and financial performance will be divided into three categories which are: Diamond, Gold and Silver.

The exchanges between Ecobank Cameroun executives and managers of SMEs helped the latter to better understand this concept that they hope will be beneficial to their structures.

"It is still a good thing that a Bank meets with its customers and try to create something new that can bring more customers.'' There were a lot of questions at this meeting and I hope that Ecobank will take them into account to improve the level of service to its clientele," stated Nde Christopher, Member of the Executive of a company based in Bamenda.

Ecobank Cameroon arrived in the Cameroonian banking landscape in 2001. It holds the 3rd network in this sector with 36 agencies and small agencies across the country. It was nominated the best Bank of Cameroon in 2014 by ‘The Banker’, a banking magazine of the Financial Times Group.