(Business in Cameroon) - At the end of an elective General Assembly held on February 24, 2021, in Douala, the Professional Association of Credit Institutions of Cameroon (Apeccam) renewed its confidence in its outgoing board. Therefore, it reelected Alphonse Nafack (Managing Director of Afriland First Bank) who has been leading this association since December 2015.  

His 1st and 2nd vice-presidents are respectively Jean Paul Missi, director-general of Crédit Foncier du Cameroun (CFC), and Georges Fotso, managing director of credit provider Alios Finance.  

The new president promises that under his new mandate, banks will continue to develop appropriate and innovative mechanisms to help Cameroonian businesses thrive, improve the economic environment and contribute to residents’ well-being.

Let’s note that the new executive committee is elected at the end of a 2020 financial year marked by a 16.6% rise in non-performing loans in the local banking sector. Because of the rise in those non-performing loans, banks have become somehow reluctant to grant loans, thus affecting companies that need funds for their developments.

BRM