– The confession came from the National Credit Board itself. In a communiqué just released, this body chaired by the Minister of Finance, Alamine Ousmane Mey, acknowledges that “apart from the CEMAC countries”, the performances of the Cameroonian financial system “remain inferior compared to those of African countries with similar development levels”; even though these performances “improved these past years”.
We thus learned that the National Credit Board, at the end of a session held on 30 January 2017 in the Cameroonian capital, “recommended identifying the causes of this low performance, developing goals to reach in terms of development for said system, and proposing measures to reach said targets”.
Providing a summary of the year 2016 results, the National Credit Board however noted an improvement in the banking as well as microfinance sectors. With an increase in the banks’ total results of 7.8% over the period covering 31 December 2015 to 31 December 2016; an increase in client deposits of 3.9%; and progress of 5.7% in loans granted to clients.
This progress in the key indicators is also observed in the microfinance sector, and even more so: an increase of 18.2% in deposits as at end 2015, 12.4% in loans granted to clients over the same period. The only drawback: a drop of 6.7% in the number of client accounts in these institutions
SOURCE:BUSINESS IN CAMEROON