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The European Investment Bank gives a hand to Cameroonian SME Bank

On February 12, 2014, the Cameroonian Minister of Small and Medium Enterprises, Laurent Serge Etoundi Ngoa (photo), received a delegation of the European Investment Bank (EIB). According to a government official, the EIB delegation came to discuss the international financial institution’s availability to assist Cameroon SME Bank (BC PME) whose opening “is imminent”.

This expertise will consist of training the heads of the soon-to-open bank with 10 billion FCfa in capital, which has already been completely freed by the Cameroonian State.

 

According to Pedro Lima, head of the EIB delegation received on Feruary 12, 2014 by Minister Etoundi Ngoa, the EIB’s interest in BC PME is due not only to the fact that SMEs are the engine of economic growth, but also because they are the source of 70% of employment worldwide.

 

BC PME held its 3rd General Assembly on January 31, 2014. The meeting led to the appointment of Elung Paul Ché to the post of Chairman of the Board. This appointment is yet to be confirmed by presidential decree and the nomination of Managing Director is also outstanding. 

(Source: Business in Cameroon)

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