Campaign for women to receive better access to credit launched

May 31, 2011

In Cameroon, the Horizons Femmes association is campaigning to promote better access to credit for women.

Females in the country currently receive little help from financial institutions, the association revealed.

According to the Food and Agriculture Organisation of the United Nations (FAO), the lack of access to credit is a problem especially in rural areas, due to high interest rates and collateral requirements.

Less than 10 per cent of women managing a very small enterprise have credit with a microfinance institution and only one per cent have credit with a bank.

This is why Horizons Femmes initiated a project in 2010 to create a guaranty fund to facilitate women's access to credit.

The scheme has already allowed the deployment of a lobbying strategy, as well as the training of very small enterprise managers in the informal sector on banking guaranties law, the news source reports.

Horizons Femmes benefits from the support of the PASOC, a governmental programme for development.