SECRETARIAT GENERAL
PRESS KIT
Yaoundé Hilton Hotel, 25 August 2020
The Minister of Finance, Louis Paul MOTAZE gives a press conference on Tuesday, 25 August 2020 at the Yaoundé Hilton Hotel. This press conference marks the launch of the popularization campaign of the Computer Platform of the National Economic and Financial Committee (NEFC).
The implementation of this computer platform, an automatic tool for collecting, aggregating, analysing, synthesizing and disseminating data by the NEFC, is the result of the desire of the public authorities to improve transparency and the functioning of the financial sector as a whole, the return of centralized information to the various actors allowing them to have precious elements for day-to-day decision-making.
It should be noted that the idea of setting up this platform was born after a study was carried out and resulted in a number of findings related to the characteristics of the Cameroonian financial system. These findings notably point to the high cost of financial services; a strong public preference for fiat money (coins and banknotes), mistrust of cashless means of payment; difficulties in accessing bank loans and a lack of information on the microfinance sector.
It is therefore to reverse this trend and improve access to credit that the Ministry of Finance has worked ardently alongside dedicated sub-regional institutions, in particular BEAC and COBAC to restore and boost mutual trust, an essential element for solid financial development, between national institutions, economic operators and the general public.
I Components of the NEFC's computer platform
The NEFC's computer platform comprises six components, namely:
- the Payment Incidents Board (PIB), which centralizes and disseminates information on the opening and closing of accounts for clients of active credit and microfinance institutions, as well as on payment incidents;
- the National Enterprises' Banking File (FIBANE), which centralizes the financial data of enterprises that have requested or benefited from assistance from liable institutions, and assigns scores providing information on their probabilities of default;
- the Framework for the Analysis and Monitoring of Microfinance Institutions (CASEMF), which centralizes data from microfinance
institutions, and disseminates information on their financial, social and operational performance;
- the Risks Board of Microfinance Institutions (CREMF), which centralizes and disseminates information on customer commitments in the books of microfinance and credit institutions;
- the National Directory of Movable Securities (RNSM), which centralizes and disseminates information on movable property given as security for the loans obtained;
- the application for calculating and archiving the Global Effective Rate (GER) and the usury rate, which centralizes the data on the interest rates applied to borrowers, and calculates the GER and usury rate per type of clientele.