BCPME awaits state funds to finance companies

The Cameroonian bank for SMEs (BCPME) is waiting on the state for funds to offer financial assistance to companies.

In three months of operation, the Cameroonian bank for SMEs (BCPME) has displayed 1000 accounts and deposits mainly in view, for a total amount of FCFA 2 billion, of which FCFA 1.3 billion is for withdrawal, revealed the DG, Agnes Ndoumbé Mandeng during an interview with the government daily.

With only FCFA 700 million in its coffers and currently a predominance of short-term deposits, BCPME, which aims to grant its first loans to managers of SMEs in the coming weeks, will struggle to meet the demand of its customers more and more; especially those seeking long-term loans, more appropriate and effective for business development.

To reverse this trend, said the DG, this public bank with a capital of FCFA 10 billion in account for state infusion to finance SMEs in the long term.

"There were meetings with the Prime Ministry and we are certain that there are instructions in this direction. We are preparing the 2016 budget and we believe there will be something for the bank for SMEs," hoped the DG of BCPME.

As a reminder, promised by the head of state in 2011 at the Ebolowa agro-pastoral fair, the BCPME is functional for three months, only in the cities of Yaounde and Douala.

This banking institution which is 100% owned by the government aims to reduce SMEs' financing difficulties, which constitute over 90% of Cameroon's industrial fabric.