(Business in Cameroon) - Last December 21, microfinance institution Les Caisses d’épargne populaire et d’investissement (Cepi) published one of its board decision approving an increase of its share capital by XAF2.5 billion.
Pending the authorization of the Central African Banking Commission (COBAC), the microfinance institution’s share capital will rise from XAF1.5 billion to 4 billion. It explains that this capital increase was facilitated by "Cepi 2021", a six-month fundraising operation launched on May 1, 2021. Indeed, over six months, the microfinance company issued 100,000 new shares at XAF10,000 par value to be subscribed and paid up by old and new shareholders.
The minimum issue was XAF100,000 and the maximum XAF150,000, to be paid up in cash only. The initial target was XAF1 billion but the microfinance institution’s target was exceeded by XAF1.5 billion.
According to internal Cepi sources, the institution is following in the footsteps of Cameroonian microfinance La Régionale, which made an initial offering on the Central African Stock Exchange BVMAC to raise funds to become a universal bank.