Le vendredi 15 novembre dernier s' est tenu la cérémonie d' inauguration de l' Agence Bancaire pour le Commerce (ABC Finance) in the economic capital, Douala.

ABC Finance was put on the market in a competitive environment where more than 400 microfinance institutions (EMF) are already registered. In fact, with a capital of 5 billion FCFA, ABC Finance is managed by Cyrille Onomo, professor of management and finance at the University of Douala. It relies on several strategies to gain market shares. The financial institution will engage in activities such as savings, financial advice and the granting of loans. Its promoter bases its strategy on innovation and the provision of preferential interest rates. According to Cyrille Onomo, CEO of this microfinance, “ABC will have a particularity. It is because it will grant loans at much more attractive rates than what microfinance does today. Abc actually wants to be somewhere between banking and microfinance, which means that we may not use the rates that banks charge but we will not use EMF rates either, we will have median interest rates.” The structure also plans to offer financial advice support as well as credit solutions adapted to the specific needs of its customers.