Startups and small businesses in Cameroon now have an uncommon offer from Investisseurs et Partenaires (I&P), an investment fund dedicated to SMEs based in Africa -chaired by Jean-Michel Severino – and Somtou Cameroun (a company specializing in the digital transformation of SMEs). The fund has announced the launch of a programme to support SMEs in the country.
“This programme consists of providing a repayable advance (interest-free loan) to SMEs so they can develop a new activity, or carry out their organizational and digital transformation, etc…,” an official release informs.
Here Is What You Need To Know
- Depending on needs and projects, the amount of the loan to be allocated to SMEs varies between CFAF 20 and 40 million ($34k-$68k).
“With a maximum allocation of 30% for the transformation of the company, the rest of the funds being allocated to the working capital needs of the SME and/or the acquisition of new equipment,” the official release further stated.
- According to the two program partners, “at the end of the seed period (1 year), the SME can choose to repay the advance over 2 years without interest, or convert the loan into shares in its capital.”
Read also: Algerian Stock Market Commission Accepts IPO Applications From Two Algerian SMEs
How Startups In Cameroon May Access The Fund
Interested startups in Cameroon may contact the company at the following address:
Address
Immeuble blanc après la direction Générale MTN,
Rue Drouot, Akwa,
Douala, Cameroun
Contact
Tél. +237 697 34 81 83
Vivian Tchatchueng
For more information, click here.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.