COMPOSITION OF THE APPLICATION FILE FOR THE APPROVAL OF CATEGORY 2 AND 3 MICROFINANCE INSTITUTION/CREDIT INSTITUTIONS IN CAMEROON

This is in accordance with COBAC regulation of 2016. The composition of the application file shall contain the following;

  1. A general information sheet on the microfinance institution.
  • A notarized copy of the microfinance institution’s articles of association together with the rules of procedure and the code of ethics signed by the promoters.
  • A notarized copy of the minutes of the constituent general assembly.
  • The certificate of registration in the commercial register.
  • The list of shareholders, detailing for each of them, the number of shares held, the nominal value of the shares, the paid-up shares, the corresponding percentage holding and the equivalence in voting rights.

  • Shareholder information set out in this regulation.

  • Notarized declaration of subscription and payment of share capital.

  • The auditor’s report for any contribution in kind.

  • The statement of the bank account that received the paid-up capital.

  • The provisional composition of the board of directors distinguishing between executive directors, non-executive directors and independent directors.

  • Information on the persons designated as members of the board of directors, as laid down in these rules.

  • Information on the persons designated as Director General and Deputy Director General, as laid down in these rules.

  • Information on the persons designated as auditors, as laid down in the present regulation.

  • Information on the persons proposed for the position of director as set out in Article 12 of the rules.

  • The list and composition of the specialized committees which shall be established within the board of directors and their respective powers.

  • The list and composition of the specialized committees intended to assist the general management in the day-to-day management of the credit institution and their respective powers.

  • The provisional organization chart including the information defined in article 16 of the rules.
  • A five-year business plan including a description of the project, a strategic analysis of the market, the commercial strategy, the organization and implementation plans and the financial projections.

  • Details of the technical, financial and human resources to be used.

  • Five-year forecast of the balance sheet and profit and loss account etc.

The list is in exhaustive.

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