Regionale microfinance approved as the 18th bank in Cameroon
Regionale microfinance approved as the 18th bank in Cameroon
Successful bet for La Régionale. The now bank intends to tackle market segments in which banks are not aggressive enough, such as financing for SMEs.
The Central African Banking Commission (Cobac) has just given the green light to La Régionale d’Epargne et de Crédit to operate on the Cameroonian market as a universal bank, learned EcoMatin from a good source. For this financial institution, this is the culmination of a long process initiated since 2020.
Through a capital increase operation by means of a public offer of sale of shares, the 2nd category microfinance had succeeded in raising more than 2.5 billion FCFA from CEMAC investors, in order to increase its capital social beyond the 10 billion necessary to operate as a bank. The call for funds was followed in July 2021 by the listing of its shares on the Central African Securities Exchange (Bvmac).
This approval allows La Régionale to begin a new stage in its development. It officially becomes the 18th bank to operate in the country after the Equatorial Guinean Bange Bank and the Nigerian Accès Bank which officially started their activities this year.
Unlike the latter, La régionale already enjoys a strong footing in the Cameroonian market with 45 branches across the country and a network of more than 110,000 customers. To mark its mark, this bank with local capital intends to tackle market segments in which banks are not aggressive, such as the financing of SMEs, the financing of WCR for large companies and digitalization. On this last aspect, the now bank intends to develop a mobile banking service that will allow its customers to mobilize their resources from their smartphone or computer.
