The private arm of the World Bank sensitised young girls selected from various social centres about funding opportunities available to them on Friday, March 30.
Within the framework of celebration of the “Diversity & Inclusion” (D&I) Day, the International Finance Corporation (IFC), the private arm of the World Bank Group last Friday, March 30, in Akwa-Douala said it has put aside enough cash for young girls who will come up with innovative self-initiated projects.
The purpose of the funds is to help the foster the culture of self-employment and job creation which is already on the rise in Cameroon. During a workshop jointly organised by IFC and Advans Cameroun with the collaboration of some social centres in Douala, on the occasion of the “Diversity & Inclusion” Day, Olivier Nour Noel, Senior Investment Officer for IFC, told the young girls that it specifically recognise that “Diversity & Inclusion” is a key factor of sustainable development. It is not just about putting or financing large projects for governments, but that through “Diversity & Inclusion” it seeks to touch the least of society with business funds it offers through Micro-Finance Institutions (MFI), which also helps to organise management training programmes for small businesses. It is through these MFIs that the young girls, who must be ages between 14 and 18 years, can benefit IFC funding for their small businesses.
One of the objectives, he said, is maximise the potential of small businesses by the participants selected various social centres where they learn tailoring, hairdressing, painting, cuisine-restaurant, maternal assistance like babysitting and re-education, to transform the economy while driving the country towards an emerging economy by 2035.
“By funding microfinance institutions, we want to see as many of such MFIs involve in large projects like the Kribi Power Plant development run by Kribi Power Development Company (KPDC), the Lom Pangar Dam project, based on our believe that it is through the private sector that Cameroon can generate more employment,” the finance expert told Cameroon Tribune.
ADVANS, according to its General Manager, Frank Snieders, is promoting D&I through values; transparency, professionalism, equal chances for all, no discrimination. With a staff power of 320 of which 280 are permanent, 151 of Advans employees are women (54 per cent). Out of its 8,000 female clients, 3,500 women have access to loans while 6,100 have savings accounts. The problem is follow up. Social centres and parents don’t follow them up.
