World views: Cooperative banks in Cameroon

Microfinance from small beginnings 25 years ago to a network of 120 cooperative banks with 120 million euros in total assets today. Justin Bomda, CEO of the MUFID cooperative banks, comments in an interview with “Weltsichten”. In particular, it also shows that the cooperative banks in Cameroon are financed from savings deposits and not through international foreign currency loans, which have to be repaid with interest. They can therefore offer their members moderate interest rates so that they do not run the risk of falling into a debt trap.

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