SOFINA | MFIs in Cameroon

Gross Loan Portfolio USD, 2010: 2.1 million

Number of active borrowers 2010: 2,232

Average loan balance per borrower USD, 2010: 959.7

Deposits USD, 2010: 2.3 million

Assets USD, 2010: 2.9 million

Number of depositors 2010: 16,000

Mission:

SAVINGS AND LOANS

Address:

B.P.: 1041 DOUALA

DOUALA

Cameroon

Phone:

(+237) 33 43 36 80

Fax:

(+237) 33 43 36 76

Email:

sofina_sa [at] yahoo [dot] fr

Website:

www.sofina-sa.com

Main Funding Sources:

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Leasing

Fund Transfer Services

Looking for (Investment Types):

Loans in Local Currency

Donations

Guarantees

Capacity Building Grants

Loans in US$

% Operations Comprised by MF:

91 - 100

Date established:

Jan 1 1996

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Clients living in rural areas	1
Micro-entreprises, associations, GIE, GIC	2
Women	3
Clients living in urban areas	4
Adolescents and youth (below 18)	5
+ Development goals (ranked by importance)
Employment generation	1
Poverty reduction	2
Increased access to financial services	3
Development of start-up enterprises	4
Growth of existing businesses	5
Gender equality and women's empowerment	6
Youth opportunities	7
+ Poverty targets
Very poor clients
Poor clients
Low income clients
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
SME loans
Loans for agriculture
Loans for education
Housing loans
Prêts élevage, prêts pêche
+ Savings products offered
Checking accounts
Voluntary savings accounts
Fixed term deposits
Special purpose savings accounts
Bons de caisse
+ Compulsory insurance products required
Compulsory credit life insurance
Assurance parrainage compte
+ Voluntary insurance products offered
Voluntary life insurance
+ Other financial products and services offered
Debit/credit card
Savings facilitation services
Remittances services
Change
+ Non-financial services offered
+ Enterprise services offered
Business development services
+ Education services offered
Crédits scolaires
+ Health services offered
+ Women's empowerment services offered
Facilités de financement des associations féminines
+ Products and services targeting the poor
Products and services specifically designed to target the poor:	Prêts élevages, prêts pêches, prêts agricoles, financements des activités de subsistance (moto-taxi, call-box …)
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to remote/rural communities
Outreach to women
Portfolio quality
+ Social responsibility to the environment
+ Poverty measurement tools in use
Housing index
Means test

Partnerships

Current
Name	Relationship
AMT	Network Affiliation
ANEMCAM	Network Affiliation
Planet Rating	Rating

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Social Performance Profile

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