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Cameroonian SMEs paid more in loan interests in Q1 2022 QoQ

Cameroonian SMEs paid more in loan interests in Q1 2022 QoQ
  • Comments   -   Monday, 10 October 2022 16:14

(Business in Cameroon) - SMEs in Cameroon paid 35 basis points more in interest on bank loans in Q1 2022 than in Q4 2021. The rate rose from 12.54% to 12.89% over the two periods. Data from the Cemac Central Bank showed that all the other economic operators in the country have seen their interest rates decrease.

"Interest rates on banking loans for individuals fell by 5 points to 15.89% from 15.94%," while "the average lending rates for large companies fell by 66 points to 6.84% from 7.50% three months earlier," Beac said. For public administrations and local authorities, the "average lending rates fell to 5.75% from 11.07%, down 532 points."

The Beac report did not provide the reasons behind this rate variation, however, many analyses often present SMEs as poorly structured organizations that are not always creditworthy. The situation may also have roots in the increase of demand from SMEs in a post-Covid context. According to Beac, these companies accounted for 21.39% of new loans granted in Cameroon over the first quarter of 2022, a record level since at least 2020.

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