Cameroon: AfricInvest to acquire a stake in microfinance institution CCA
The CCA could become a banking institution.Tunisian private equity firm AfricInvest will soon acquire a stake in the capital of the Cameroonian microfinance institution Crédit communautaire d’Afrique (CCA), the Ecofin agency has learned from sources within CCA.
The amount of the investment has not been revealed, but it is expected to allow this institution to change status to become a commercial bank.
The CCA is a finance company that provides financing solutions primarily to rural areas and small and medium-sized enterprises (SMEs). It is one of the largest microfinance structures in Cameroon, with about 360.000 clients.
AfricInvest is a pan-African private equity fund manager that supports the development of SMEs in the implementation of their development projects to create regional or even continental "champions".
Supported by private and institutional investors as well as development agencies, AfricInvest manages a $1billion dollar asset portfolio spread over 23 countries in Africa.