Government seals 200B deal with financial institutions to facilitate loan access

By Vera Fon

Cameroonian Entrepreneurs can now obtain loans with which they can use to improve their businesses and fund their respective projects. This is thanks to a 200 billion FCFA deal signed on August 16, 2023 by the Minister of Finance, Louis Paul Motaze, some banks and microfinance institutions in Yaounde.

This agreement is aimed at helping public and private enterprises acquire loans. Going by the minister, entrepreneurs seeking for these loans should not come to him but table their files to their respective banks.

“We as the government, have decided that we can try to see what we can do. That means that, when you have a file to seek for loan, do not come and see the Minister of Finance, go to your bank. The bank will examine your file and they will see if your project is a good one. If it is but you lack guarantee, the bank will come and see the Minister of Finance and explain the situation,” the minister said.

“The big enterprises will enjoy 30% guarantee while the small and medium size enterprises will benefit from 60% of the guarantee. In crisis areas, we have 60% for the big enterprises and 80% for small and medium size enterprises,” the Minister added.

Among the sectors covered by these loans, are the agropastoral investment, fishing and digital economy sectors.