Annual Report 2022 Prima Finance and Investment

Introduction
There is no doubt that 2021 was an extraordinary year. It was a challenge for everyone—our customers, our people, our communities. But even in an incredibly dynamic market environment, our employees came together, we stayed true to our strategy, prioritized our customers, and even though we still have much work to do, I am proud that we delivered exceptional results for our shareholders.

Our Strategy
In January 2020, we introduced our three-pronged strategic plan: We would 1) grow and strengthen our existing businesses; 2) diversify our products and services; and 3) operate our business more efficiently, all with the goal of producing higher and more consistent returns. Although the market environment since then has been nothing like what we expected, we have done very well: today, we are tracking over 30 key performance indicators and believe we will meet or exceed 95% of them.

Growth Strategies
Consumer Digital Banking
This year, we worked with our SAFE partners to begin implementing the core banking system and also designed our mobile app, which is now functional. This is important because our mass-market business is set to grow to serve over 1 million customers over the next decade and average deposits of over 5 billion CFA francs. We intend to achieve this by putting customers at the center of what we do. Our core banking software and mobile apps will enable us to make gains in the market. More than 48% of Cameroonians own a smartphone, and the internet penetration rate in Cameroon was 36.5% of the total population at the beginning of 2022.

Scalable Products
This year, we devoted significant resources to trying to understand the market, consumer needs, business preferences, and policy directions to design products suited to the current, future, and emerging markets. We offered a range of products: inventory, climate, agriculture, trade, and real estate finance. Meanwhile, credit scoring, MomoKash, cryptocurrency-related services, and kiosk banking are some of them. These products are priced according to COBAC regulations and also adhere to all directives prescribed by COBAC. These are supported by our credit, audit, and lending policies.

Customers Who Trust Us: We create a trusted environment with our customers by ensuring they have access to smart and targeted products.

Digital Transformation: Our approach will be fully digital by 2025. Our partnerships and execution of our partnerships will prioritize

Greater Transparency: We will prioritize transparency by ensuring our standards and approach are verifiable.

DESCRIPTION: The year 2022 was the year we started to operate fully. Our office at Carrefour Lycee Biyemassi was renovated, and we began operating fully in April 2022. This year, we signed several partnerships, and our team traveled to Dubai to meet potential partners.

Download Prima 2022 Annual Report

There is no doubt that 2021 was an extraordinary year. It was a challenge for everyone—our customers, our people, our communities. But even in an incredibly dynamic market environment, our employees came together, we stayed true to our strategy, prioritiz