Accompanied by the U.S. Ambassador to Cameroon, H.E. Christopher John Lamora, executives from Azamra were granted an audience with the Minister of the Economy, Planning, and Regional Development, Alamine Ousmane Mey, in Yaounde on Wednesday, 12 March 2025.
This audience is part of a two-week economic prospecting mission conducted by executives from an American company within Cameroon. This mission will allow these executives to assess the terms and conditions for collaboration with the government and stakeholders in the national financial system. More importantly, it aims to identify strategies to enhance financial inclusiveness for stakeholders in Cameroon’s informal sector, thereby enhancing their participation in the country’s economic growth.
The meeting with the Minister of the Economy provided Azamra’s executives with the opportunity to present their plans for Cameroon. Specifically, discussions between Alamine Ousmane Mey and the mission team centered on the innovative strategies that Azamra aims to implement in the field of financial technology. These strategies are designed to enhance financial inclusiveness via artificial intelligence and to broaden the subscriber base for bonds and treasury bills issued by the State to finance its investment projects, all facilitated by secure digital platforms. Additionally, the American company seeks to establish a technology that will improve the tracking of transfers from the diaspora to Cameroon.
While commending the goodwill of Azamra’s executives for sharing their experience and expertise acquired in New York with Cameroon, the MINEPAT indicated that this initiative will help to modernise the domestic financial system by capitalising on the new opportunities presented by artificial intelligence and other innovative financial tools. He assured the mission team of his ministry’s readiness to support them in this significant initiative, which aligns with the goals of Cameroon’s structural transformation as promoted by the NDS30, where the financial system serves as a crucial pillar.
Azamra is an American FinTech company co-founded by an American man and an American woman of Cameroonian descent. It has been operating in Cameroon since 2021, following the acquisition of Mutuelles Camerounaises d’Epargne et du Crédit (MUCADEC), a microfinance institution. The institution is now known in Cameroon as Azamra Financial Technologies PLC.
