“(Business in Cameroon) - LA Régionale”, the Cameroonian microfinance institution that entered the regional exchange market BVMAC last February, announces good performance for H1-2021.
According to a release issued on October 26, 2021, the institution claimed that during the said period, it recorded a XAF249 million (+10,55%) year-over-year growth in its turnover. Similarly, its net financial income rose by XAF258 million while its operating income grew by XAF108 million.
La Régionale does not specify the reasons for these performances. It only comments that they were achieved after its listing on the BVMAC. The microfinance institution also announces that in the second half of 2021, its main growth drivers will be school loans and credit to the economy to fund economic recovery.
The microfinance institution’s plan to get listed on the BVMAC was announced on February 3, 2021, by Charles Rollin Ombang Ekath, its founder and CEO. The aim was to raise XAF8.23 billion to transform the microfinance institution into a universal bank. However, only XAF2.58 billion was raised mostly from Cameroonian investors.