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Cameroon: Banking, financing institutions schooled on use of artisanal miners.

Some forty-five representatives of banking and financing institutions in Cameroon have been enlighten on the importance of artisanal miners. This was…

Some forty-five representatives of banking and financing institutions in Cameroon have been enlighten on the importance of artisanal miners.

This was during a recent workshop organsied by the United Nations Development Program (UNDP), in partnership with the European Union, the African Guarantee Fund and the Ministry of Mines, Industries and Technological Development, all in the bid to facilitate access to funding for Small and Medium-sized Enterprises in Cameroon.

Addressing participants, Francis Andrianarison, representative of the Resident Representative of the UNDP, said development minerals are minerals and materials that are mined, processed, manufactured and used domestically in industries like construction, manufacturing, agriculture and infrastructure.

For his part, Chariot Moussa, National Coordinator of the ACP-EU programmme at the UNDP said the main aim of the workshop was to sensitise stakeholders in the financing sector on the importance of the sector so that they can come up with loan options that suit businessmen. To him, by encouraging local financial institutions to tap from the African Guarantee Fund, will propel their business.

During the workshop, it was revealed that about 90 per cent of activities in the construction domain in Cameroon are artisanal. Reason why UNDP and it’s partners think it is necessary to encourage SMEs in the development minerals sector to reorganise themselves and get loans from the bank. They equally hold promotion of the sector will go a long way to create jobs and reduce poverty to a socially acceptable level, given that a majority of actors in the sector operate in domestic SMEs.

 

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