(Business in Cameroon) - Banque camerounaise des petites et moyennes entreprises (BC-PME) recently opened an agricultural financing window. This window was opened following an agreement signed with Agence des PME for the management of agricultural and agribusiness transformation and valorization programme Transfagri.
Transfagri, launched thanks to a partnership with France, is endowed with a budget of over XAF200 million and would be implemented over a one year period that includes training and development works.
According to Agnès Ndoumbè Mandeng, CEO of BC-PME, the program aims to boost the skills of human resources involved in the specific sectors related to the products to be created since, in the bank’s new business plan, it is required to consider the agribusiness sector as one of the major sectors. This will thus require more human and financial resources, she added.
New BC-SME offices dedicated to the agricultural and agribusiness sectors will be established in four production areas: Yaoundé, Douala, Bafoussam, and Garoua. The Bank will focus on five sectors: cereals (wheat, maize, rice, millet, sorghum, beans, soybeans); fish farming, oil palm, pineapple, and poultry. Depending on the case, the Bank will pre-fund SMEs producing raw materials and post-fund those engaged in distribution or related activities.