(Business in Cameroon) - Cameroon’s Crédit Foncier (CFC), government housing bank, and Pari Mutuel Urbain (PMUC) just signed a partnership agreement to make access to housing and immovable property on preferential terms easier for the employees of the horse-betting company.

According to this agreement, PMUC’s agents-promoters of housing projects will have to provide 10% of the required investment for the project, in order to benefit from the Crédit Foncier’s support. The housing bank will then grant them loans repayable over a maximum of 300 months with an annual interest rate of 5% tax-included (against 16% at standard banks).

CFC’s Director General, Jean Paul Missi, said this convention with the PMUC is the eighteenth partnership agreement signed up-to-date with Cameroonian firms that aim to facilitate access to immovable property for their agents. Since the beginning of 2015, CFC has disbursed 2 billion FCFA to support the beneficiaries of these various agreements.