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Cameroon: Commercial banks contribute CFAF265 mln to the Covid-19 solidarity response fund

Cameroon: Commercial banks contribute CFAF265 mln to the Covid-19 solidarity response fund
  • Comments   -   Thursday, 25 June 2020 14:45

(Business in Cameroon) - On June 23, the professional association of credit institutions in Cameroon (APECAM), led by Alphonse Nafack (photo), handed a check of CFAF265 million to the Minister of Public health Malachie Manaouda.

This check is the contribution of banks operating in the country to the national solidarity fund set up by the Head of State against the coronavirus. The Apecam thus joins the solidarity chain prompted by the fund, to which many companies and individuals have already contributed.

According to the ordinance signed last June 3 by the President of the republic to amend the 2020 finance law, all the contributions made by companies to the fund are fully deductible from their corporate taxes counting for the 2020 financial year.

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