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| Elung Paul Che |
(Business
in Cameroon) - Managing Director of the Hydrocarbon Price Stabilisation
Fund since May 2013, Elung Paul Che has been appointed as
Chairman of the Board of Cameroon SME Bank. According to Ecofin Agency’s
sources, this decision was made on January 31, 2014 at the conclusion
of a mixed general assembly for the newly created bank.
Former
Managing Director of the Ministry of Finance’s Treasury and
Administrator of the Douala Stock Exchange (DSX), Elung Paul Che was
announced to be the future Executive Board head at the end of a general
assembly held in March 2013. He is the only person to have received the
Central African Banking Commission’s approval for the position.
But
his appointment will still have to be confirmed by presidential decree.
The same goes for Agnes Ndoumbe Mandeng, current Financial and Monetary
Co-operation Director at the Ministry of Finance who is to be Managing
Director at the Cameroon SME Bank. She has also received approval from
the said CEMAC regulatory body.
With
10 billion FCfa in capital, the new bank plans to remove the obstacles
that hiner SME access to financing. The main objective is to boost the
development of these companies which are unanimously considered to be
engines of economic growth.
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