(Business in Cameroon) - According to the National Monetary and Financial Committee (Comité monétaire et financier national - CMFN) of Cameroon, the volume of loans granted to economic actors by local banks, during the first quarter of 2017, has increased by 28.9% compared to the same period in 2016.

In detail, these financial supports for the economy went from FCfa 2,440.9 billion in March 2016 to FCfa 3,145.8 billion as at end March 2017; representing an increase of over FCfa 700 billion, we learn.

This upturn, as acknowledged by CMFN, in its report, is partly the result of the strong demand from banks by the State and its divisions, who are still the main clients of the Cameroonian banking institutions.

Indeed, against the treasury difficulties imposed by the expenditure linked to the fight against Boko Haram in the Far North region, and the fall in public revenues generated by commodities, the Cameroonian State is increasingly soliciting banks to finance its operations and investments.

As an example, since the beginning of 2017, the Cameroonian public Treasury has been very active on the public securities market of the BEAC (where banks are the main actors), with a rate of mobilisation of funds of almost FCfa 7 billion every 10 days.

Brice R. Mbodiam