CCA Bank's commitment to women's empowerment in Cameroon

According to the latest World Bank data from 2021, only 24% of people in Cameroon have a bank account. Slightly more than half of the population uses mobile money accounts. These are financial accounts linked to a phone number rather than a traditional bank account, and they are widely used across many African countries. Electronic payments are increasing, and the share of Cameroonians with some form of account rose from 12% in 2014 to 52% in 2021.

This growing financial market is where CCA Bank operates. Founded in 1997 in the city of Bafoussam as a cooperative microfinance institution, CCA Bank set out to make financial services accessible to people on low incomes and to small businesses. The bank grew quickly, expanded its network across Cameroon and invested in digital banking services.

In 2018, CCA Bank obtained a banking licence and became a fully-fledged bank. It now offers a broad range of financial services under one roof, including current accounts, savings accounts, mortgages, loans and investments. Today, it is one of Cameroon’s larger financial institutions, with around sixty branches and 900 employees across the country.

Growth was essential

"The growth of CCA Bank is closely linked to the growth of our customers," says Alvine Désirée Tiwoda. "Small businesses that received microloans through CCA Bank were able to expand. As they grew, they needed broader financing options that we did not yet provide. To keep supporting them, we needed to grow as well. That growth has benefited both CCA Bank and Cameroon, because it has allowed us to offer more to households and entrepreneurs."

Cameroon is home to over 28 million people. Despite its natural resources, including oil, gas, coffee and cocoa, a large part of the population lives in poverty. According to the World Bank, four out of ten Cameroonians live below the national poverty line of 813 CFA francs, around EUR 1.24, per person per day. Most of the workforce is employed in the informal sector and has no social protection. "In recent years, Cameroon has become more economically stable," says Tiwoda. "The government is promoting local production to reduce imports and lessen dependence on other countries."

Making finance accessible

CCA Bank supports this by financing local business activity. While the bank does not focus exclusively on women, it has helped strengthen financial inclusion in Cameroon since it was founded by making finance accessible to a wider group of people.

According to the United Nations, Cameroon has made progress in recent years on gender equality. Women now hold one-third of parliamentary seats. At the same time, UN data shows that women's rights remain under pressure, and women are more often victims of (partner) violence. For example, 22% of women (in 2018) said they had experienced physical or sexual violence by a current or former partner in the previous year. Fewer than half of women of childbearing age had access to modern contraception. Women in Cameroon also tend to have less access to well-paid and formal jobs, and many work in the informal sector, where jobs are often low paid and precarious.

Tiwoda: "Inclusivity is on the agenda everywhere in Cameroon. As in many parts of the world, there is still much to gain in areas such as education and employment. We have a Ministry for the Promotion of Women and the Family, which helps ensure that progress continues. At CCA Bank, we believe people are a country’s strength. In Cameroon, there are more women than men. That is one reason why it makes sense to give women the same opportunities as men. We cannot reduce poverty without women."

The strongest candidates

CCA Bank applies these principles in its own organisation. Most of its employees are women, and all management positions are held by women. Tiwoda laughs when asked about the reasons for this. "We place high value on skills such as communication, collaboration and problem-solving, which are often associated with women. At the same time, everyone who applies has an equal chance. It was not a deliberate choice. The women who applied for these positions were simply the strongest candidates."

With strong female representation in management, CCA Bank has deep insights into the challenges and needs of women entrepreneurs. "There are cultural and societal barriers. In many parts of the world, women are expected to stay at home and take primary responsibility for children or other family members," says Tiwoda. "We also often see a lack of self-confidence. When starting a business, many women often ask themselves: can I do this?"

Women's club

At CCA Bank, women can open an account free of charge and automatically become members of a women's club. The club gives women a space to meet, learn from each other and support each other. Tiwoda explains: "We actively help women secure loans to turn their ideas into reality. In the women's club, we see how women who succeed in business can inspire others."

Borrowers receive close support from bank professionals. "Each month, we visit entrepreneurs who have taken out loans. We look at how the business is performing, where it can be strengthened and how any problems can be solved. Our specialists stay involved to help ensure that entrepreneurs can make good use of their loans."

CCA Bank also has ambitious plans of its own. Tiwoda says: "In the coming years, we will continue working to give more people in Cameroon access to financial services. In particular, we want to help even more women realise their business ambitions." Additionally, CCA Bank is growing rapidly, something Tiwoda is very enthusiastic about. "We hope to expand into Central and West Africa this year and open branches there. Over time, we want to improve financial inclusion in many more places. In that sense, our mission does not stop at national borders."