The creation of the Cameroon SMEs Bank (BC-PME) was announced by the President of the Republic of Cameroon, His Excellency Paul Biya, during the Ebolowa Agro-Pastoral Show in 2011, as well as the creation of the Agriculture Bank (CARFIC). These two public banking institutions are each endowed with a share capital of 10 billion CFA francs, already fully allocated by the public authorities (MINFI).
2- Objective :
The Cameroon SMEs Bank aims at providing financial support to business promoters, through the granting of short, medium and long-term loans to SMEs in order to finance their operating activities.
3- Purpose of its creation :
In Cameroon, SMEs represent nearly 95% of the country’s economic fabric. But most SMEs promoters find it very difficult to access bank credit from traditional banks, which generally require guarantees that are difficult to access for local entrepreneurs who do not own fixed assets such as land and buildings and have few resources.
After receiving a release of CFAF 10 billion from the State, the bank’s sole shareholder and the authorisation delivered by the regulator, the bank was only waiting for the appointment of the main managers to effectively launch its activities.
4- Bank management:
The creation of the Cameroon SMEs Bank was completed with the appointment of the heads of the deliberative bodies (Board of Directors) and managers;
This appointment was made following the approval of the Central African Banking Commission (COBAC) and in accordance with the provisions of the Organisation for the Harmonisation of Business Law in Africa (OHADA).
At the end of the double joint general meeting of 6 June 2014, the managers respectively entrusted the Chairmanship of the Board of Directors to Mr Theodore NKODO FOUMENA, former Vice-President of the African Development Bank (ADB), Mrs Agnès NDOUMBE MANDENG, Director of Financial and Monetary Cooperation at the Ministry of Finance as General Manager, and Mr AMADOU HAMAN, as Deputy General Manager.
Cameroon SMEs Bank opened its counters to the public on Monday, 20 July 2015.