In December 1998, a credit agreement was signed between the Republic of Cameroon and the French Development Agency (AFD). The purpose of this agreement was to finance the creation of a financial institution, specialised in financing very small enterprises (VSEs). The project was created for “ACEP Cameroon” and was called “Project for the financing of very small enterprises in urban areas”. It lasted 42 months and allowed to distribute nearly 5,000 credits to VSEs. The first loans were granted in December 1999 in Yaoundé and extended to the city of Douala in June 2000. The break-even point of the project was reached in the 33rd month. The aim of the project was initially to set up an effective and profitable medium-term scheme for financing MSEs in the urban centers of Yaoundé and Douala.
In a second phase, this project aimed at transforming this mechanism into a private financial institution specialised in the financing of VSEs in urban areas in Cameroon. The transformation into an independent financial institution named ACEP Cameroon S.A. took place in 2005 with the entry of local and foreign shareholders in the capital.
Fifteen years later, the growth and development of ACEP Cameroon has allowed a gradual expansion in 7 of 10 regions of Cameroon with a network of 24 branches, both in urban and rural areas. ACEP Cameroon has also diversified its target customer base. In addition to VSEs, it serves more than 14,000 customers, including individuals (private employees, civil servants, government employees and pensioners) and Small and Medium Enterprises (SMEs).
For more information, visit the ACEP Cameroon website.