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Oliver Fomunung
@ofomunung
Husband | Father | Innovator | Founder @SMECreditPro @Smespro
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Sep 10, 2020
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10 tweets
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3 min read
1/
Almost 2 years after launching in Cameroon,
@SMECreditPro
has made very little progress locally.
The Non-Performing Loan in Cameroon is ~14%, one of the highest (if not the highest) in SSA.
Banks are not lending to MSMEs and less thank 5% of SMEs get access to finance.
2/
the SME credit gap in Cameroon is ~$8 Billion.
Despite these, we have seen reluctance in adopting a solution that can help ease the situation.
Culture seems to play a big role in all of this. There is lack of transparency in the
#cameroon
banking industry.