By Nadege Dzilamonyuy Limnyuy & Julliet Mesame
Small and medium-sized enterprises (SMEs) across the Central African Economic and Monetary Community (CEMAC) are set to benefit from improved access to finance following official launch of the CEMAC Credit Information Bureau (CIB).
The bureau was officially launched on Tuesday, 20 January, in the economic capital, Douala, during a ceremony attended by the Governor of the Bank of Central African States (BEAC), Yvon Sana Bangui; International Finance Corporation (IFC) Vice President, Ethiopis Tafara; Cameroon’s Minister Delegate at the Ministry of the Economy, Planning and Regional Development, Paul Tasong; as well as heads of banking and financial institutions.
The launch event featured keynote speeches by key stakeholders and a panel discussion during which experts explained the functionality and importance of the credit information system, shedding light on how it is expected to transform access to finance in the region.
The Credit Information Bureau is designed to collect and consolidate data from a wide range of sources, including banks, microfinance institutions, telecom operators, water and electricity suppliers, and other alternative data providers. This information will enable lenders to assess borrowers’ creditworthiness more accurately and make informed lending decisions.
According to Sidimohamed Abouchikhi, Regional Director of Credit info Central Africa, the bureau plays a crucial role in bridging information gaps within the financial system.
“It is an entity that collects information from banks, microfinance institutions, utility companies and telecom operators. This information contributes to the credit decision-making process when a customer applies for a loan,” he explained. “For banks, it helps to reduce systemic risk and information asymmetry, while improving access to finance.”
For consumers and SMEs, payment records from utility and telecom services can now serve as evidence of financial discipline, allowing lenders to better evaluate credit profiles and extend financing with greater confidence.
The establishment of the bureau is the result of collaboration between BEAC, the World Bank and the International Finance Corporation (IFC). It seeks to achieve three main objectives: cleaning up banks’ loan portfolios, reducing non-performing loans, and stimulating sustainable economic growth across the region.
By aligning CEMAC member states – Cameroon, Gabon, Congo, Chad, the Central African Republic and Equatorial Guinea with international financial standards, the bureau enhances transparency and strengthens trust between lenders and borrowers.
Speaking at the ceremony, Minister Delegate Paul Tasong described the launch as a decisive step towards realizing the Head of State, President Paul Biya’s vision of making the private sector the engine of economic growth by 2035.
“Credit institutions measure the cost of money based on the level of risk they can assess. Today, we are putting in place an instrument that facilitates the assessment of risk for all potential borrowers,” he said. “This tool will make credit not only more democratic, but also more accessible, particularly for small and very small enterprises.”
Governor Yvon Sana Bangui emphasized that improved data collection and greater transparency would strengthen confidence in the financial system, ultimately lowering borrowing costs and expanding access to credit.
The launch of the CEMAC Credit Information Bureau marks a significant step towards financial inclusion in the region, positioning SMEs to play a stronger role in driving economic development.
