Cameroon SME Bank to grant credits in 3 months - DG

The Cameroonian Bank of SMEs (BCPME) has given itself three months to grant the first credits to customers who will be recruited in the meantime, according to Agnès Ndoumbe Mandeng, DG of the 14th active banking institution in Cameroon.

The opening of the BCPME on July 20 incited managers of SMEs, who gathered there from the first day to get more information. The turn up was proof of the hope placed in this new Bank by the promoters of SMEs, which for the time being “bear the highest interest rates on the credits they receive from banks as compared to the rates applied to large companies,” revealed a recent report from the credit Committee of Cameroon.

Created with the main mission to support SMEs generally facing difficulties with access to financing from conventional banks, the BCPME is equipped with a capital of 10 billion Cfa francs, wholly owned by the Cameroonian State.

The agency in Yaoundé begun operating on July 20, 2015 but that of Douala will open on August 3.