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Cameroon: Government to involve banks in the collection of contributions of its covid-19 Solidarity Fund

Cameroon: Government to involve banks in the collection of contributions of its covid-19 Solidarity Fund
  • Comments   -   Monday, 06 April 2020 10:45

(Business in Cameroon) - In the coming days, banks will play an important role in the collection of financial contributions for the solidarity fund the Cameroonian government created and endowed with an initial amount of XAF1 billion.

This strategy of requesting the contribution of banks was adopted during a government meeting organized by the Prime Minister on April 2, in Yaounde. At the end of the meetings, Joseph Dion Ngute asked the Finance Minister, Louis Paul Motaze, to open accounts for the collection of resources destined to the fund in “one or more banking institutions.”

The government has not yet indicated the banking institutions that will help the country in this financial mobilization however, reliable sources point out that UBA is in a pole position. The reason for this assumption is that a few days ago, the bank donated XAF150 million to help Cameroon in its fight against the coronavirus pandemic.

S.A.

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