Cameroon withdraws accreditations for 28 microfinance institutions

Cameroon’s Minister of Finance (MINFI), Alamine Ousmane Mey, has decided to withdraw the accreditation for 28 microfinance institutions (MFIs) which are out of business, payment defaults or inability to met normal operating conditions. Nearly 80 percent of those outfits are established in Douala and Yaounde, the country’s economic and political capitals respectively. Last February, promoters…