Is That Lender Licensed? The COBAC/MINFI Check for Cameroon (2026)

Cameroon has a large microfinance sector alongside its banks, and informal lending is everywhere — from "njangi"-style circles to individuals lending at punishing rates. Before you borrow from anyone, the single most protective thing you can do is check whether they're actually approved to lend. Here's how.

Who is allowed to lend, and who approves them

• Banks are approved and supervised region-wide by COBAC (the Central African Banking Commission, part of the central bank BEAC) — not a Cameroon-only regulator.
• Microfinance institutions (MFIs / "établissements de microfinance") are also approved by COBAC, in coordination with Cameroon's Ministry of Finance (MINFI). A legitimate MFI can name its approval category.
• Anyone lending who is neither a COBAC-approved bank nor a COBAC-approved MFI is operating informally. That's not automatically illegal for a one-off personal loan between people, but you have far less protection and no regulator to complain to.

How to check before you borrow

1. Ask for the approval directly. A real bank or MFI will tell you its COBAC approval and category without hesitation. Evasion is the answer.
2. Verify against the official lists — COBAC's approved-institutions list (published via BEAC, beac.int) and the Ministry of Finance (minfi.gov.cm).
3. Match the legal name, not the shop sign or the app's marketing name — informal operators borrow the look of real institutions.

Red flags to refuse outright

• Your bank card, PIN, or phone handed over as "security." No legitimate lender needs your card or your mobile-money PIN. This is how informal lenders drain accounts — refuse it.
• A fee to "release" or "process" a loan you haven't received. Real lenders deduct costs from the amount or bill them on the agreement; they don't ask you to pay up front to unlock a loan.
• No written agreement showing the full cost. You're entitled to see the total cost of credit — interest plus every fee — before you sign.
• A rate that sounds wild. CEMAC caps lending through the usury rules in Règlement N°04/19/CEMAC/UMAC/CM — which governs the all-in Taux Effectif Global (TEG, the total effective rate including fees) and the repression of usury across the zone. A lawful lender must disclose the TEG and stay under the published ceiling. . Anything above it is unlawful.

Compare licensed options instead

The safe way to borrow is to compare approved lenders on the full cost of credit, not the monthly-payment headline. Work the repayment out yourself first so you know what you can afford. and

Before you borrow: read the complete guide to borrowing money safely in Cameroon — the true cost of credit, the usury cap, and how to borrow well.

Frequently asked questions

Is borrowing from a njangi or informal circle illegal? No — rotating savings-and-credit circles are a normal part of Cameroonian financial life. Just understand you have no regulator behind you if something goes wrong, so only do it with people and rules you trust.

A loan app approved me instantly — is it safe? Instant approval says nothing about licensing. Check whether the app is a COBAC-approved MFI or is fronting for one, and read the total cost before you accept — instant apps often carry the highest effective rates.

What if a lender already has my card or is threatening me? Stop further payments you didn't agree to, keep every message, and report it — to your bank (to protect the card) and to the Ministry of Finance / the consumer-protection route for financial services.

This is general information, not legal or financial advice. Confirm any lender's approval yourself before you borrow.