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Yaoundé - 21 August 2018 -
Microfinance

Barely 30% of CEMAC’s microfinance institutions transmit credible reports to CABC

Barely 30% of CEMAC’s microfinance institutions transmit credible reports to CABC
  • Comments   -   Tuesday, 12 June 2018 13:45

(Business in Cameroon) - For about a month now, the Central African Banking Commission (CABC) has been popularizing the use of its platform “E-Sesame” for the elaboration of microfinance institutions’ reporting framework.

According to Maurice Christian Ouanzin, the commission’s general secretary, this platform will help correct the reporting mistakes usually identified by CABC as far as the off-balance-sheet commitments, risks division and statistics are concerned.

According to the secretary, the precedent reporting were not as successful as CABC would want to because out of the 700 microfinance institutions it authorizes, barely 30% transmit credible reports on a regular basis. The banking commission thus wants to reverse that trend.

S.A

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