Micro-finance banking regulation opposed

The Mutual Community Growth and Mutual Financial African women have expressed the disinterest in the banking regulations in Cameroon.

This is in relation to corporation tax and the law fixing the remittances amount. This micro-finance group made mention of these during their 6th Annual General Meeting held on November 24, 2015, at the Palais des congrès de Yaounde.

A position that those responsible for Mc2 and Muffa support is judged by heavy loads. "In banks, you will never go more than 5,000 FCFA or 10,000 FCFA. This will be around 100,000 or 200,000 and the commission is substantial. "

"But you say in a context of ambient misery as in our villages, where one is forced to send 2000 FCFA or FCFA 1000 to a parent or to buy even one litre of oil, and being told that the service invoice is 10 FCFA or 25 FCFA for 5000. When we see all the expenses incurred on staff, electricity, internet, it's too much," says David Tamgnoue, Pca of AMC2.

"Cameroon has made a statement on inclusive finance, which must move closer to more users," said David Tamgnoue.

Furthermore, the "General Assembly made the participants understand the issues related to the sustainability of these micro-finance institutions," reported the daily Le Messager on Wednesday, November 25, 2015.

"So he acted on strategies to implement to give Mc2 and Muffa the ability to continue their mission in a permanent and sustainable manner while covering operating and financial expenses in the income from their activities," the newspaper added