Credit Scoring in Cameroon
Credit Scoring in Cameroon: Perspectives on Business & Policy
July 12, 2024
The University of Edinburgh is currently developing an initiative to enhance the incorporation of credit scoring into lending processes. They are particularly interested in Cameroon. In a letter addressed to the Country Director for Cameroon & Gabon in the Department of Business and Trade at the UK High Commission in Yaoundé, Cameroon, the Chair of Societal Aspects of Credit, Professor Galina Andreeva, stated that the goal is to promote economic growth in Cameroon by enabling local lenders to profitably expand access to credit through digital transformation and credit scoring.
This exciting initiative is led by the University of Edinburgh in collaboration with Trent Advisory Services Ltd (Trent), a British consultancy. Their goal is to:
- deliver capacity building for stakeholders from both private financial institutions and relevant public sector regulators/policymakers;
- explore avenues for adding value to Cameroon’s credit sector.
- promote economic growth in Cameroon by enabling local lenders to profitably expand access to credit through digital transformation and credit scoring.
To jumpstart this process, the team organized an online meeting on July 12, 2024 to discuss perspectives and further insights on the proposal from the University of Edinburgh and Trent Advisory Services. Invitees included banking executives, members of the UK Cameroon Chamber of Commerce and other invitees.
The Chairman of the UK Cameroon Chamber of Commerce, Dr Elias Pungong had the opportunity to give his opening remarks before the meeting started. He cautioned on the need to ensure that the rollout strategy aligns with the local realities.
The President of the Professional Association of Credit Establishments of Cameroon (APECCAM), Mrs. Abunaw Gwendoline was present at the meeting and her insights into the local banking realities gave the team the needed feedback to further align their delivery strategy.
The organizers would use the feedback from the meeting to further plan and align their delivery strategy in the coming months.
