New SME Bank Opens Today

The Cameroon Bank for Small and Meduim-Size Enterprises – BC-PME will officially open its doors to the public today, Monday, 20 July 2015. The revelation was made by the General Manager of the Bank, Mrs. Agnes Mandeng Ndoumbe, in an exclusive interview she granted Cameroon Tribune on Thursday 16 July 2015.
    Mrs. Mandeng announced that the new Bank will kick-off with just the Yaounde branch that is attached to the bank’s head office situated at Nlongkak quarters. She said the Douala branch would be opened later on 3 August 2015. Other branches will be opened in other towns progressively, she said.
    It should be recalled that since 4 years ago that government announced the creation of the SMEs Bank, it was only in June 2014 that the persons to manage the Bank (the GM, Deputy GM and Board Members) were appointed. Since then it only now that the Bank is opening its doors.

    The GM explained that this delay was due to some administrative procedures that had to be strictly followed notably the validation by COBAC of the mandates of the appointed managers, the securing of office spaces for the bank in Douala and Yaounde, the holding of a board of directors meeting on 1st August 2014 to give quittus for expenditure among others. Meeting in ordinary session on 29 June 2015, the Board of Directors approved the option for the management to proceed with the technical opening, as required by banking practices and customs. The technical opening is expected to pave the way for the carrying of tests towards rendering the bank fully operational, Mrs. Mandeng said.
    With commercial operations expected to kick-off on Monday, it is hoped that owners of small and medium-size businesses will rush for the opportunity and queue up for much needed financing.