Millions earn daily. This Cameroonian startup wants banks to lend to them.
In Central Africa, millions of people earn daily but struggle to access formal credit. BEE is building financing infrastructure around the assets they already use to work.
In Cameroon, motorcycle taxi drivers are informally known as "bend-skin" due to the wear and tear on their vehicles from repeated use. These drivers have become a common sight in urban areas following the devaluation of the CFA franc in 1994, which led to the degradation of public transport infrastructure and left a generation of jobless youth with limited options.
Despite the prevalence of informal income-generating activities, such as selling smartphones, tailoring, poultry farming, and market trading, very few drivers own their motorcycles outright. This situation is mirrored across various industries in the region, highlighting the importance of understanding the informal economy as a key aspect of the region's economic landscape.
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