In 2024, the 390 microfinance institutions (MFIs) operating in Cameroon granted 659.4 billion CFA francs (approximately USD 1.2 billion) in credit to economic agents, according to data from the Central African Banking Commission (COBAC). This volume is up by about 41 billion CFA francs (nearly USD 75 million) on an annual basis and represents 57.6% of the microfinance credit market in all countries of the Economic and Monetary Community of Central Africa (CEMAC).
According to an official list released by the Ministry of Finance (Minfi) on December 31, 2025, 385 MFIs were authorized to operate in Cameroon in 2026. Although there was a slight decrease compared to the 390 MFIs identified in 2025, this number confirms the central role of the sector in financing the national economy.
Through the publication of this list, Minfi aims to protect savers from clandestine MFIs, which are regularly reported in a market considered strategic by monetary authorities. In a country where banking access remains limited, especially in rural areas, microfinance remains a key channel for financial inclusion and support for productive activities.
Overwhelming leadership in CEMAC
In 2024, the credits distributed in Cameroon were three times higher than those in Congo and six times higher than those in Gabon during the same period. This dominance is also based on the density of the network. Of the 521 MFIs licensed in the CEMAC in 2024, 384 were located in Cameroon, representing nearly 74%.
The dynamism of the sector is correlated with the economic weight of the country, which concentrates around 40% of the sub-regional industrial fabric, expanding the base of solvent clientele.
For investors, this market depth offers opportunities in financing SMEs, especially those in agriculture, trade, and structured informal economy.
A cleaned-up sector, more attractive for capital
However, this growth is accompanied by a restructuring phase. Liquidations and temporary administrations have multiplied in recent years.
According to experts, this movement mainly reflects the tightening of supervision carried out by COBAC since the reform initiated in 2015. “Before 2015, compliance with ratios was sufficient. Today, governance, internal control, and risk management are crucial,” explains the general manager of an MFI in Cameroon.
After a transition period until 2020, controls have been intensified since 2021, leading to the exclusion of non-compliant actors.
For institutional investors and impact funds, this normalization improves the visibility of the sector and reduces systemic risks.
In a context of strong credit demand and progressive banking, Cameroonian microfinance appears as a relay for sustainable growth and a strategic entry point in Central Africa.
