Cameroon: SME bank to open its doors today
The creation of Cameroon's SME bank was announced in January 2011.The Cameroonian Bank to small and medium-sized enterprises (BCPME), which has offices in Yaounde and Douala, opened today, July 20th.
Agnes Mandeng, executive director of this structure, told the Journal du Cameroun that staff training is "already completed", with a workforce of sixty executives and agents, "all Cameroonians".
The BCPME benefited from technical assistance from SCB Cameroon - a subsidiary of Attijariwafa Bank - for its implementation with regards to organisational aspects, logistics, and the implementation of the IT system.
The creation of the BCPME was announced in January 2011 by the government with a view to facilitating the financing of small and medium-sized enterprises.
These businesses often face difficulties in accessing credit because they are not able to provide the guarantees required by banks.
SMEs account for over 90 percent of the country's enterprises and contribute 34 percent to the GDP of Cameroon, according to official figures from the National Institute of Statistics.