Cameroon – Law Cameroon: Ministry of Finance accuses Pan-African Investment and Equity Company of illegal activity

Written by Deckson N.

The Cameroonian Minister of Finance (Minfi), Alamine Ousmane Mey, has published a communique denouncing the Pan-African Investment and Equity Company, accused of illegally operating in the cities of Douala and Yaounde.

According to this member of government, this company which is not “authorised” operates totally illegally, collecting substantial deposits from the public, for investments it promises to remunerate at the unrealistic rate of 10% a month, which makes 120% per annum.

Also the Minfi, who is the Monetary Authority in Cameroon, draws “the public’s attention to the risks in making a quick buck with this institution, which has neither a microfinance license nor that of a credit institution, even less that of an investment or equity organisation”.


Facebook Comments

About the author

Deckson N.

Please wait...

Subscribe to our site and be Informed!

Want to be notified when our article is published? Enter your email address and name below to be the first to know.