The banking and financial system in Cameroon is governed by the convention of January 17, 1992, on the harmonization of banking regulations in the States of Central Africa. Cameroon, according to the provisions of this convention, is a member of the FRANC ZONE and the Bank of Central African States (BEAC). Before this convention and on the margins of the traditional banking system, we observe the first developments of microfinance in Cameroon in the 1970s, with the emergence of networks of savings and credit cooperatives. Later, it was the State and NGOs that integrated the sector through credit programs in the 1980s.

However, one of the most important changes in the sector took place thanks to the liberalization measures of economic activity, in particular LAW N° 90/056 OF DECEMBER 19, 1990 relating to freedom of association. It was in the aftermath of this law that we saw the birth of original structures such as community growth mutuals (MC²) which operate in rural microfinance. But the actual formation of an environment conducive to the development of microfinance dates back to 1992 with the promulgation of LAW N° 92/006 OF AUGUST 14, 1992, at the origin of the boom in current cooperatives, including those with a financial character generally called savings and credit cooperative (COOPEC).

This sector was reinforced in April 2002 by more assertive and more adequate community standards. Microfinance activity is now governed by the provisions of Regulation No. 01/02/CEMAC/UMAC/COBAC relating to the conditions for exercising and controlling the activity of microfinance in the Economic and Monetary Community of Central Africa. This text establishes the compulsory licensing regime applicable to all types of microfinance businesses, as well as the obligation to join the professional association.