Micro-enterpricing And Micro-financing

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This is a photo of Eric Nkoulou Abang, a small trader in Douala located at the Bonamoussadi neighborhood. He has been granted a seed fund to enable him start up this business by FCDA. He said he hopes to own atleast ten phone booths by the end of next year and to employ others given that mobile sect...

FCDA provides seed funds to her members and students who meet certain criteria to start up their own businesses with less than 100USD for the creation of phone booths, retail activities to farming activities as the list is inexhaustible. Most amazing talented and skillful people in Cameroon lack the necessary finance to actually demonstrate their skills and most at times this goes unnoticed which could otherwise help many individuals out of poverty. This fund is also granted through a demonstrated willingness to create solutions that brings positive impact to the society. We also link individuals and self-help groups to microfinance institutions, international agencies and other banking institutions. These services shall be conducted on a digital scale. It should be noted that almost 75% of the adult population do not have a bank account and this is a principal challenge for a way forward to empower the population. We are developing a mind shift in the way we do things and get out of the comfort zone. We are developing full home and management talents. We have as target to link at least 200 individuals to financial institutions and to provide them with seed capital.

The formal banking framework post a stiff hold back for many women and men to engage with these institutions due to the lack of collaterals and the exorbitant registration fees. This makes it very difficult for these underprivileged to acquire loans or micro credit to pursue their dreams. Also most of these institutions are found in the urban areas without branches in the local communities to serve the poor, thus FCDA is in abid to engage these individuals, self-help groups, graduates and students to have access to micro credit to enable them undertake activities for income generation.

 

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