The support system for key growth sectors of the Cameroonian farmers’ organization – NOWEFOR

The support system for key growth sectors of the Cameroonian farmers’ organization – NOWEFOR
N°34

Today, most authors believe that, beyond a few headline success stories, microfinance is not sufficient in itself to significantly increase the income of large sections of the poor. Indeed, by facilitating poor people’s access to financial services that are cheaper and better suited to their needs than traditional informal systems, microfinance allows many micro-entrepreneurs to increase their existing economic activities or to engage in the activities already performed by others in their community. However, microfinance alone rarely leads to the adoption of technical and/or organizational innovations, that is to say, new activities or new ways of working, which, given a favourable political environment, would generate real economic development on a meso- or macro-economic scale. Therefore, for some time now, various stakeholders have developed an interest in combining microfinance with the provision of non-financial services (business development services), a combination, which has experienced a boom in recent years, under the moniker value chain finance. This is particularly true of the farmers’ organization NOWEFOR, which for the last ten years, has offered its members an integrated set of financial and non-financial services designed specifically for the development of priority sectors in the areas it operates in.

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