logoBC
Yaoundé - 08 December 2019 -
Agriculture

Cameroon : Three new financial partners join the PIDMA

Cameroon : Three new financial partners join the PIDMA
  • Comments   -   Monday, 16 July 2018 16:29

(Business in Cameroon) - On July 13, 2018, in Douala, Thomas Ngué Bissa, the national coordinator of the Agriculture Investment and Market Development (Project le Coordonnateur national du Projet d’investissement et de développement des marchés agricoles-PIDMA) for which World Bank disbursed CFA50 billion, signed three new partnership agreements with microfinance institutions.

Thanks to these agreements, Caisse d’épargne et de crédit de la solidarité (Cepac), Financière d’épargne et de crédit (Figec SA) and Mutengene Savings and Loans Cooperative Society (MSLCS LTD), become financial partners in the framework of the project aimed at boosting the production of cassava, sorghum, and corn in Cameroon for the local agribusinesses supply.

"In the short term, these framework agreements will help complete the financing of four cooperatives’ producing sub-projects namely, two in the corn sector and two in the cassava sector. We believe that by signing these agreements with the microfinance institutions, the number of sub-projects effectively financed and implemented by the PIDMA will increase”, Thomas Ngué Bissa said.

According to an internal source at the coordination of PIDMA, with these agreements, the number of business plans financed in the short term should reach 23 with the financial support of five banks (Bicec, Société générale, Afriland First Bank, Ecobank, Banque camerounaise des PME), and four microfinance institutions (Renaprov Finances, Cepac, Figec SA and Mutengene Savings and Loans Cooperative).

Let’s remind that according to the cost and risk scheme which entered into application in May 2018, cooperative’s business plan is financed by PIDMA when at least 10% of this fund comes from the cooperative, 20% from the financial partner and less than 70% from PIDMA.

The loan consented by the financial partner is the remaining fund to be provided after the cooperative funds are deduced from the amount required to implement the bankable business plans prepared by those cooperatives (which should be already established companies) with the help of PIDMA experts.

Brice R. Mbodiam

cameroon-new-issuance-of-fungible-treasury-bills-on-beac-market
On December 4, 2019, the Cameroonian Treasury proceeded to the issuance of a 26-week fungible treasury bills on the market of the Bank of Central African...
cameroon-35-of-gas-stations-are-located-in-rural-areas-ministry-of-energy
In Cameroon, 35% of the 835 gas stations in operation as of October 28, 2019 (for the 54 state-approved companies), are located in rural areas. This was...
cameroon-increased-daily-drinking-water-production-by-96-376-m3-between-2018-and-2019
In Cameroon, the national drinking water production increased from 731,080 m3/day to 824,456 m3/day between 2018 and 2019, according to recent data from...
cameroon-safacam-plans-to-invest-xaf3-5-bln-to-extend-its-oil-palm-and-hevea-plantations-in-dizangue
In Cameroon, the Ministry of State’s Property and Land Tenure recently granted an additional 2,000 hectares of land to Société Africaine forestière et...

Mags frontpage


Business in Cameroon n81: November 2019

The growing weight of Moroccan banks in Cameroon


Made in Cameroon products gradually take over supermarkets


Investir au Cameroun n91: Novembre 2019

Le poids croissant des banques marocaines au Cameroun


Le Made in Cameroon progresse dans les supermarchés