(Business in Cameroon) – Between July and September 2024, bank fees and charges added an average of 25.7% to the interest rates on loans in Cameroon. This figure is highlighted in the report by the Bank of Central African States (BEAC) on the lending rates across the CEMAC region during the reviewed period.
The report notes that individuals, small and medium-sized businesses (SMEs), public administrations, and local governments faced higher-than-average charges, with rates of 33%, 26%, and 25.7%, respectively. On the other hand, large businesses and other corporate clients benefited from lower charges, at 21.4% and 22.4%, respectively.
These figures reveal significant disparities in access to credit across the country, with large businesses receiving more favorable terms. In fact, by the third quarter of 2024, large companies accounted for nearly 68% of the total bank loans disbursed in Cameroon, according to the central bank’s data.
