(Business in Cameroon) - This year, the general directorate of treasury, monetary and financial cooperation of Cameroon’s ministry of finance will continue the identification and closure of public administrations’ bank accounts opened in commercial banks.

This measure mentioned in the general report of the central and external services of the ministry of finance’s annual conference, held in Yaoundé, will contribute to the single treasury account’s consolidation.

According to public authorities, this account will allow transparency and an efficient management of public revenues by centralizing them. At the ministry of finance, it is said that this account will also help end the bad practices of some public officials. Indeed, it is said that these public officials do not hesitate to invest with the public funds in commercial bank accounts.  

Incidentally, this measure will once again weaken those financial institutions, large fund providers for government and its institutions, which have been confronted with liquidity issues for some time now.   

Brice R. Mbodiam