(Business in Cameroon) - Only 10% of the adult population has a bank account in Cameroon, according to the Ministry of Finance. At the same time, more than 50% of the over-15 population has no access to financial services, the same source indicates.
To increase the bancarization rate, the Cameroonian government and the United Nations Development Program (UNDP) launched a session on November 11, 2020, in Yaoundé to update the country’s national financial inclusion strategy.
The session aimed to explore ways and means to significantly increase Cameroonians’ access to financial services over the 2021-2025 period. "We must step up our actions to bridge the gap between rural and urban areas, reduce the gap between the rich and the vulnerable, reduce discrimination between young and old and between men and women," said Finance Minister Louis Paul Motazé.