YooMee Africa counts on the diaspora to raise 10 million Euros

The ISP broadband internet, YooMee Africa, plans to raise 10 million euros (more than FCFA 6.5 billion) to ensure its development in Cameroon and Côte d'Ivoire, starting November.

YooMee Africa, which is present in Cameroon and Ivory Coast, intends to expand its network to other African countries. The group opted for participatory financing To achieve its goals (crowdfunding).

Fundraising conducted by YooMee consists of the issuance of bonds with a maturity of 5 years and a coupon of 7%.

"We made this choice to show that an improvement can be made done through this innovative mechanism. A specialist firm has offered its services. In addition, we want to contact more African societies in the diaspora, mainly those from these two countries," said Emmanuel Forson, CEO of YooMee Cameroon.