412 microfinance establishments received their approval in Cameroon

The Cameroonian Minister of Finance, Alamine Ousmane Mey, has just published the list of 412 approved microfinance establishments, and therefore authorised to carry out their activities in Cameroon during 2017.

Upon observation, this list, which had 500 establishments in 2015, against 418 only in 2016, keeps on shrinking, due in part to cancellations of approvals against some structures, and the management problems which they have been facing recently.

Indeed, after the bankruptcy of Cofinest and Fiffa some years ago, Crédit Mutuel and Comeci are in trouble, Société Financière Africaine (SFA) was put under administration, while Binum Tontine, Djagui du Cameroun and Mutuelle de Développement et d’Investissements du Cameroun (MDIC) simply had their approval withdrawn.