A delegation from the Cameroon Business Upgrading Office (BMN) led by its Director, Ms. Marie Rose Chantal ELOMBAT MBEDEY, stayed at the headquarters of the African Guarantee and Economic Cooperation Fund (FAGACE) in Cotonou (Benin) from 04 as of October 6, 2021. This mission was part of, on the one hand, the establishment of a collaboration framework between the BMN and the FAGACE and, on the other hand, the strengthening of the partnership between the two institutions.
At the end of its mission to FAGACE and in the presence of the Director General of the Fund, Mr. Ngueto T. YAMBAYE, the Delegation gave a press briefing at FAGACE headquarters, on Wednesday October 6, 2021. It notably took stock of its stay at FAGACE and presented the relevance of exchanges of experience.
During its stay in Benin which will extend until October 11, 2021, the Delegation met the Director General of the Benin Business Restructuring and Upgrading Office (BRMN) and plans to participate in other meetings with Beninese institutions in the field of Guarantee, the securities market, etc. A visit to several companies that have benefited from BRMN support is also planned during this stay.
Several avenues of cooperation were also explored with FAGACE, notably (i) support from the FAGACE Institute in training and capacity building in terms of Guarantees and socio-economic studies, (ii) hosting an Information and Liaison Office within the BMN, (iii) the implementation of a triangular synergy between FAGACE the BMN and the Cameroonian Bank of SMEs (BCPME) through the mobilization of a financing line for companies certified with the FAGACE-BMN Certificate.
At the end of the meeting with FAGACE, it was agreed that an implementation memorandum of the Partnership Agreement be developed to operationalize the various activities to be carried out and a reporting system be established between the two parties.
Done in Cotonou, October 6, 2021
