MINFI endorses 418 microfinance companies

The Minister of Finance, Alamine Ousmane Mey has published a list of 418 accredited microfinance institutions in the country.

In a communique signed at the start of the week, Minister Alamine Ousmane Mey made public the list which comes to put order in the microfinance sector.

With the existence of the list, officials of the Ministry of Finance have cautioned Cameroonians to be vigilant in the choice of microfinance institutions to belong to.

In response to the publication of the list, some Directors of microfinance institutions have put up copies of their authorisation in their buildings so as to win the trust of their customers.

In the meantime, unauthorised microfinances still operating do that at the peril of indictment with punishment ranging from heavy fines to imprisonment, as stated in the CEMAC regulation.