The Cameroonian Minister of Youth and Civic Education signed a partnership agreement with the founder of La Régionale Bank, with the aim of effectively implementing the Guarantee Fund for Young Entrepreneurs (FOGAJEUNE).

SMEs still have difficulty mobilizing capital through traditional financing channels to support their activities. Through this agreement, the Régionale Bank will offer loans to young Cameroonian entrepreneurs from the region and the diaspora through 2 guichet financement direct counters, namely a “& et un laquo; guichet garanti ” . The loan amounts are ê 25 million FCFA for the first and 100 million FCFA for the second. According to Abdoul-Karim Nassourou, the national coordinator of FOGAJEUNE, the first window targets first-time entrepreneurs made up of individual projects, pioneer villages and economic clusters, and grants them grants whose amounts do not exceed 1.5 million FCFA, repayable loans at zero interest rates capped at 10 million FCFA and reimbursable loans at a subsidized rate of 8% for an amount of between 10 million FCFA. 000 000 and 25,000 000 FCFA

The second targets young local entrepreneurs and those from the diaspora in a joint venture with their peers back home, already active and seeking funding to extend their project.