(Business in Cameroon) - The executive management of Compagnie Équatoriale pour le Commerce et le Crédit d’Investissement (COMECI) has summoned the borrowers of this microfinance institution, to repay all debts that are due, at the risk of legal prosecution and seizure of their assets. The managers of COMECI are moreover threatening to reveal the list of these recalcitrant debtors to the press.

Incidentally, apart from this operation of enforced collection, the executive management of this microfinance institution on the verge of bankruptcy since August 2016, outline measures aimed at putting this business back on track. Notably it is envisaged, we learn from reliable sources, to reduce staff, salaries and the number of branches, within the framework of an overall plan to reduce expenses.

According to our sources, the shareholders of this microfinance institution have furthermore agreed to recapitalise it, through an injection of fresh capital of around FCfa 1 billion before the end of this year 2016.

BRM