(Business in Cameroon) - Jean Calvin Mbayen Mbayen, the Managing Director of microfinance company Apesa announced the company is entering the crowdfunding segment. This was during the opening of a new branch in Yaoundé November 29.
The announcement of the company, 65% owned by Cameroonians, occurs in a context marked by the fragility of the business sector. According to the Bank of Central African States (BEAC), Cameroon is the only country in the sub-region to be represented in crowdfunding in Africa, with 4,421 projects financed in 2017 for a total of CFA1.1 billion. This represents 0.74% of the funds raised in 2017 on the continent.
“We’re working on this service that will allow you, as an investor, to finance projects online. The entrepreneur can also benefit from online financing,” the MD said.
When asked about the soundness of the financial institution he manages, Jean Calvin Mbayen Mbayen assured that Apesa complies with prudential ratios. Moreover, it reports that the company benefits from the support of serious investors such as the Cameroonian oil company Gulfin and the multinational Sofimar.
After it completes expansion to the Far North, East, West and South West, Apesa plans to grow to ultimately become a bank like Crédit communautaire d'Afrique became a bank on June 11, 2018.