Despite its oil resources and favorable agricultural conditions, the inhospitable business environment in Cameroon has traditionally discouraged foreign investment in the country. It is a difficult climate for any enterprise—even more so for microenterprises. With limited access to financial services and nearly 70 percent of the country’s labor force concentrated in agriculture, there is a critical need to support microentrepreneurs.
We began providing support to African microfinance institutions in 2000, and our work on the continent is characterized by strong and deep relationships with our partners. In 2010, Accion partnered with Ecobank to launch EB-Accion Cameroon, currently located in Douala. EB-Accion offers microfinance services—including loans as low as U.S. $410, savings and remittances products—to merchants, manufacturers and other microentrepreneurs to help them develop their businesses.
Accion currently provides a range of technical assistance and management services to EB-Accion in Cameroon.