(Business in Cameroon) - In 2016, the gross lending of 829 microfinance institutions identified within CEMAC was CFA535.5 billion. The figure is revealed in the report on financial stability in Central Africa that BEAC has just published.
“The highest proportions were distributed by microfinance institutions in Cameroon (75%), in Congo (17%) and Gabon (5.3%)”, the report reveals.
The report also indicates that Cameroon, which hosts 523 microfinance institutions (more than half of the microfinance institutions identified in the community) had the highest rate of bad credits during the period under review.
Indeed, by December 31, 2016, the outstanding loans in these institutions, within CEMAC “were CFA71.1 billion, representing about 13.4% of the gross lending”, they “were concentrated in Cameroon (79%) and in Gabon (13%)”.
“The volume of outstanding loans, declared by financial institutions, does not reflect the actual volume owing to the non-compliance with the accounting and downgrading rules provided by the regulation”, the report revealed further.
Brice R. Mbodiam