First SMEs loans to be awarded in November 2015

Promoters of small and medium-sized enterprises and projects can now move closer to the Cameroon Bank of small and medium-sized enterprises (BC- PMEs) to solicit for funds from November 2015 onwards.

The announcement was made by Olivier Djaga, the head of the BC-SMEs Agency in Douala, during a meeting for an Exchange platform on the structuring and financing of SMEs, organized by the Cameroonian SMEs, on Wednesday, October 7, 2015 in Douala.

"Any promoter who wants to benefit from our Bank funding should submit to us his plan. We will study and it and it is on the basis of this study that we can give our credit decision. So it all depends on the project which is presented to us and then, as a result of this study, we can give a favourable or unfavourable credit decision," indicated the boss of BC - SMEs in Douala to Cameroon-info.net

The Bank will mainly analyze the ability of the project submitted to generate income to repay the requested loan. It will also consider the client profile to "see what the elements that can reinforce the repayment of the loan given to the promoter,’’ added our source. BC - PME intends to apply a maximum rate of interest of 11% per year. This is the best offer on the market, according to officials of this structure as compared to 12 to 13% generally granted to SMEs in Cameroon.

Legal environment

The establishment of this bank structure with a capital of 10 billion Cfa Francs arouses great hopes among small Cameroonian entrepreneurs whose main difficulty lies generally at the level of funding for their activities. "The creation of the Bank of SMEs was an imperative necessity. Currently, SMEs need accompaniment, financing and also some follow-up to capitalize the development of their activities.

"It (BC - SMEs) is interested in the advice that it can give to clients and even loans granted to the customers ', noted Pr Oubarazack, promoter of SMEs with satisfaction. Anselme Kemva, Executive Chairman of SMEs (C - SME) Cameroon, said Cameroonian entrepreneurs should seize the opportunities offered by this Bank as well as other structures of accompaniment of SMEs established by the state, such as the Agency for Promotion of small and medium enterprises, to structure and Fund itself.

But this optimism is not shared by all. Simo R., a business leader, who does not particularly appreciate the fact that the management of the Cameroon Bank of small and medium-sized enterprises be entrusted to officials. The other real problem of Cameroonian SMEs is, according to him, the judicial environment. "This is where the law fails. The moment where justice is at the head, where the highest bidder wins, it challenges all.

We can very well give money, establish all structures of accompaniment of SMEs but without a serious justice system, we cannot succeed. This is the crux of the problem. If it fixes this problem, Cameroon will advance before 2035 as Mr Biya said. Even in two years, we can take off if we put in place a good legal environment in Cameroon,’’ he assured us.

Cameroon Bank small and medium-sized enterprises (BC – PMEs) officially opened its doors on July 20, 2015, in Yaoundé. The Agency in Douala has been operational since August 3, 2015. Its opening marked the fulfilment of the promise made by the head of state Paul Biya in January 2011, during the agro-pastoral show in Ebolowa.