(Business in Cameroon) - The Cameroonian minister of agriculture informs that in the framework of the PIDMA (launched in 2015), eighteen business plans (for a total of CFA653.7 million) are being reviewed by local banks.
The minister did not reveal the banks sollicited but in May 2018, five financial institutions signed agreements with PIDMA. They are namely BICEC, Société Générale Cameroon (SGC), Afriland First Bank, Banque camerounaise des PME and RENAPROV.
In the framework of that project, 132 cooperatives are already financed by four partners namely BICEC, SGC, Afriland, and RENAPROV. The total investment for these cooperatives is CFA1.2 billion.
Let’s remind that the PIDMA is a joint initiative by Cameroon and World Bank for the implementation of the Agriculture 2.0. Its aim is to contribute to the development of subsistence farming (characterized by low productivity) into commercial farming with competitive value chains in the five agro-ecologic regions in the country namely, the Centre, West, Northwest, North and the Far-North.