(Business in Cameroon) - Investisseurs et Partenaires (I&P), an investment fund dedicated to SMEs based in Africa -chaired by Jean-Michel Severino (photo)- and Somtou Cameroun (a company specializing in the digital transformation of SMEs) announce the launch of a programme to support SMEs in the country.

“This programme consists of providing a repayable advance (interest-free loan) to SMEs so they can develop a new activity, or carry out their organizational and digital transformation, etc…,” an official release informs.

Depending on needs and projects, the amount of the loan to be allocated to SMEs varies between CFAF 20 and 40 million, we learn, "with a maximum allocation of 30% for the transformation of the company, the rest of the funds being allocated to the working capital needs of the SME and/or the acquisition of new equipment."

According to the two program partners, "at the end of the seed period (1 year), the SME can choose to repay the advance over 2 years without interest, or convert the loan into shares in its capital."

BRM