By Mirabel Azangeh Tandafor
Cameroonian female entrepreneurs, would, by the beginning of 2006, start benefiting from at least a 60 percent financial grant from the African Development Bank, ADB.
The Director of the Private Sector at the ADB, Luciano Borin, made the disclosure on July 7.
The event was a joint conference organised by the Cameroonian Businesswomen Association, GFAC, some officials of the ADB and the World Association of Female Entrepreneurs, FCEM, at Sawa Hotel, Douala.
Borin said in its efforts to alleviate poverty among African women, the ADB has decided to also extend its largess to the Cameroonian woman. He disclosed that Cameroonian women are second to benefit from such largess, after Kenyan women.
On how this is to be done, Borin said an ADB team is due in Cameroon come September 2005, to carry out a feasibility study on how the ADB can promote feminine entrepreneurship in Cameroon.
The delegation, which is also going to work with some Cameroonian experts, is expected to examine projects worth sponsoring nationwide. The same team would also have to, during the study period, create contacts with some big and small commercial banks that would then be used by the ADB, to finance the women.
After the study, a plan of action would be drawn. The program is aimed at providing a 40 to 60 percent grant of the working capital to women who would solicit loans from banks chosen.
Beware!
Borin, who has been working in Africa for 25 years in various capacities, warned women to beware of those malpractices that may discourage the ADB from continuing with its support to Cameroonian women. He said in Kenya, where the funding rate ranges between 15 and 25 percent of financing, they are already noticing cases of unpaid bank loans. He warned the businesswomen against taking sums they would not be able to pay back.
He, however, encouraged the women to do their business according to international standards; be competitive; 'aggressive', and do concrete things that are remunerating enough.
"Push to reach good results," Borin urged, adding that female entrepreneurs from Cameroon have to start doing things, and not continue talking about the potentials of
Africa only. He asked all to be ingredients of assistance and be trustworthy.
Origin Of Partnership With ADB
Tracing the origin of ADB's support to women in Africa, and Cameroon in particular, Françoise Fonning, who was recently nominated President of the World Association of Female Entrepreneurs, FCEM, said she had led a delegation of 45 Cameroonian women to the ADB to lobby for support for the Cameroonian female entrepreneurs.
She had also undertaken many trips to the ADB for the same purpose, despite the setting up of an ADB bureau in Cameroon.
Fonning said 15 years later, Cameroonian female entrepreneurs were still to benefit from any funding when Borin arrived last April to talk about ADB's support to women.
Fonning who is also Mayor and Parliamentarian urged her female counterparts to be united in their crave to get ADB funding.
She encouraged the spirit of collectivism rather than individualism. "Form CIGs and NGOs because working in a chain is very helpful and influential." She exhorted those present to scrutinise the projects they intend to present to the ADB.
She disclosed that with her assistance, a powerful team of 12 female business magnates would be constituted to act as consultants to the program. This same team would draw up the lists of banks suitable to participate in the program.
The ADB expert's visit ended with a guided tour to some firms run by women in Douala.
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