{"id":462535,"date":"2018-10-04T19:38:42","date_gmt":"2018-10-04T18:38:42","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=462535"},"modified":"2018-10-04T19:38:42","modified_gmt":"2018-10-04T18:38:42","slug":"cameroon-low-rate-of-banking-for-under-15s-survey","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/10\/04\/cameroon-low-rate-of-banking-for-under-15s-survey\/","title":{"rendered":"Cameroon: low rate of banking for under-15s (survey)"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Cameroon Ministry of Finance&#8217;s &#8220;FinScope&#8221; survey to measure levels of access to and use of financial services in the country during 2017 indicates that only 10% of those under age 15 are unbanked.<\/p>\n<p>The survey also reveals that formal credit is not widely used in the country (3%), and that there is a preference for informal credit (11%). In addition, about 10% of the population has access to credit from family and friends.<\/p>\n<p>According to the same study, &#8220;consumer education and financial education are real problems in Cameroon, mainly in the field of insurance, where most adults do not have financial literacy&#8221;.<\/p>\n<p>It also states that about 51% of adults reported that they needed financial education training, primarily to obtain information on how to save and on the benefits of financial products.<\/p>\n<p>&#8220;FinScope&#8221; also notes that only 29% of under-15s are registered as Mobile Money users compared to 76% mobile penetration.<\/p>\n<p>In summary, the level of financial inclusion is relatively low in Cameroon (about 25 million inhabitants), despite a strong presence of bank signs.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Cameroon Ministry of Finance&#8217;s &#8220;FinScope&#8221; survey to measure levels of access to and use of financial services in the country during 2017 indicates that only 10% of those under age 15 are unbanked. The survey also reveals that formal credit is not widely used in the country (3%), and that there is a preference for<\/p>\n","protected":false},"author":533179,"featured_media":462539,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11996],"tags":[12599,15452],"class_list":["post-462535","post","type-post","status-publish","format-aside","has-post-thumbnail","category-finance-en","tag-cameroon-en","tag-finscope","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cameroon: low rate of banking for under-15s (survey) - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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