Risk Prevention Bureau for Microfinance Institutions to limit customers’ over-indebtedness

By DOH JAMES SONKEY A system of information sharing within microfinance institutions expected to limit over-indebtedness of customers and also significantly reduce the loan delinquency rate in the sector which currently stands at 22.9 per cent, according to statistics from the National Credit Council has been launched. The newly created system known as Risk Prevention Bureau for Microfinance Institutions (CREMF) was launched last June 21 at the Yaounde Hilton Hotel by Finance Minister, Louis Paul Motaze who doubles as President of the National Credit Council. The Secretary General of the National Credit Council, Jean Marie Benoit Mani who doubles as…