International Journal of Business and Economics Research

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Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach

Received: 04 May 2020    Accepted: 22 June 2020    Published: 22 July 2020
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Abstract

Local development is an alternative to central government at the local level. Unlike the case with the central government, local development is directed towards local territories usually with the goal of developing their local resources one of which is local infrastructure. This infrastructure is usually financed by public and private sector capitals. The main objective of this study was therefore to prospect the contributions of microfinance social innovations to public local infrastructure development in local councils in the South, Far North, South West, and North West regions of Cameroon. Government’s periodicals and literature on microfinance were used for data collection. The data were analyzed according to contributions, determinants, and challenges of microfinance social innovations in the context of public local infrastructure development in local councils in the regions studied. The findings revealed that the North West and South West regions which retain a higher number of Microfinance Institutions are amenable to more microfinance social innovations which are likely to increase public local infrastructure development in their local councils. This is not the case for the South and Far North regions. Meanwhile, the core challenge faced by municipal authorities in creating public local infrastructure is the lack of mastery and non-respect of both non-financial and financial regulations. We suggest based on the findings above that local councils studied should increase stakeholders’ cooperation and participation in public local infrastructure development in their localities, if they hope to boost public local infrastructure development in their municipalities.

DOI 10.11648/j.ijber.20200904.21
Published in International Journal of Business and Economics Research (Volume 9, Issue 4, August 2020)

This article belongs to the Special Issue Microfinance and Local Development

Page(s) 241-253
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Challenges, Cameroon Microfinance Social Innovations, Public Local Infrastructure Development, Partnerships, Participation, Local Councils, Stakeholders’ Cooperation

References
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[3] Ministry of Decentralization and Local Development (2019). Proceedings Of The General Conference Of Local Councils.
[4] Decentralization.com (2019). Local Development-Inauguration Of Infrastructural Projects In Councils, Yaounde, SOPECAM.
[5] Antohi, M. (2009). “Microfinance, Capital for Innovation” in Social Innovation and Territorial Development, ASHGATE e-book Publishing Limited.
[6] Milan-Garcia, J., Uribe-Toril, J., Ruiz-Real, J. R. & J. D. P., Valenciano (2019). “Sustainable Local Development: An Overview of the State of Knowledge”, Resources, 8, 31, 1-8.
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[8] Frischmann, B. M. (2012). Infrastructure -The Social Value of Shared Resources- Oxford/New-York: Oxford University Press.
[9] Moulaert, F. (2009). “Social Innovation: Institutionally Embedded, Territorially (Re) Produced” in Social Innovation and Territorial Development, ASHGATE e-book Publishing Limited.
[10] ISTAT (2006). “Le Infrastructture in Italia. Un’analisi della dotazione e della funzionlita”. Rome.
[11] Amin, A. (1999). “An Institutionalist Perspective on Regional Economic Development”. International Journal of Urban Regional Resources, 23, 365-378.
[12] Messomo, E. S. (2018). “Financial and Institutional Innovations in Microfinance Innovations and Commercial Banks in Cameroon”. International Journal of Financial Innovation in Banking, Vol. 2, no 2, pp. 143-157.
[13] Blach, J. (2011). “Financial Innovations and Their Role in the Modern Financial System-Identification and Systematization of the Problem”, eFinanse.
[14] Bouchard, M. (2006). «De l’expérimentation à l’institutionnalisation positive: l’innovation sociale dans le logement communautaire au Québec». Public and Cooperative Economics, 77 (2), 139-166.
[15] Richez-Battesti, N., Petrella, F. & Vallade, D. (2012). «L’innovation sociale: Une notion aux usages pluriels: Quels enjeux et défis pour l’analyse?» Innovations, Vol. 2, no 38, 15-36.
[16] COPADECOM (2010). Expériences des collaborations entre les organisations de la société civile et les communes dans un contexte de décentralisation. Coopération Allemande & CVUC.
[17] Messomo, E. S. (2013d). «Réglementation et inclusion financière en microfinance au Cameroun». La microfinance contemporaine-Défis et perspectives. Première Edition, France, Presses Universitaires de Rouen et Havre, décembre.
[18] Yunus, M. (2007). Vers un nouveau capitalisme, Paris, le livre de Poche.
[19] Messomo. E. S. (2015). “Revisiting the Theory of Social Capital Through the Financing of Microentrepreneurs in Cameroon using Fuzzy Decision Tree and QFD”. Int. J. Entrepreneurship and Small Business, Vol. 26, no 3, pp. 352-367.
[20] Messomo, E. S. (2012). “Rethinking Microentrepreneurs’ Financing by Microfinance Institutions in Cameroon: Human or Economic Capital?” American Journal of Entrepreneurship, Vol. 5, Issue 2, pp. 88-108.
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Author Information
  • Department of Banking and Finance, University of Buea, Buea, Cameroon

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  • APA Style

    Serge Messomo Elle. (2020). Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach. International Journal of Business and Economics Research, 9(4), 241-253. https://doi.org/10.11648/j.ijber.20200904.21

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    Serge Messomo Elle. Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach. Int. J. Bus. Econ. Res. 2020, 9(4), 241-253. doi: 10.11648/j.ijber.20200904.21

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    AMA Style

    Serge Messomo Elle. Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach. Int J Bus Econ Res. 2020;9(4):241-253. doi: 10.11648/j.ijber.20200904.21

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  • @article{10.11648/j.ijber.20200904.21,
      author = {Serge Messomo Elle},
      title = {Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach},
      journal = {International Journal of Business and Economics Research},
      volume = {9},
      number = {4},
      pages = {241-253},
      doi = {10.11648/j.ijber.20200904.21},
      url = {https://doi.org/10.11648/j.ijber.20200904.21},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.ijber.20200904.21},
      abstract = {Local development is an alternative to central government at the local level. Unlike the case with the central government, local development is directed towards local territories usually with the goal of developing their local resources one of which is local infrastructure. This infrastructure is usually financed by public and private sector capitals. The main objective of this study was therefore to prospect the contributions of microfinance social innovations to public local infrastructure development in local councils in the South, Far North, South West, and North West regions of Cameroon. Government’s periodicals and literature on microfinance were used for data collection. The data were analyzed according to contributions, determinants, and challenges of microfinance social innovations in the context of public local infrastructure development in local councils in the regions studied. The findings revealed that the North West and South West regions which retain a higher number of Microfinance Institutions are amenable to more microfinance social innovations which are likely to increase public local infrastructure development in their local councils. This is not the case for the South and Far North regions. Meanwhile, the core challenge faced by municipal authorities in creating public local infrastructure is the lack of mastery and non-respect of both non-financial and financial regulations. We suggest based on the findings above that local councils studied should increase stakeholders’ cooperation and participation in public local infrastructure development in their localities, if they hope to boost public local infrastructure development in their municipalities.},
     year = {2020}
    }
    

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    T1  - Microfinance and Public Local Infrastructure Development in Local Councils in Cameroon: The Social Innovation Prospective Approach
    AU  - Serge Messomo Elle
    Y1  - 2020/07/22
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    JO  - International Journal of Business and Economics Research
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    AB  - Local development is an alternative to central government at the local level. Unlike the case with the central government, local development is directed towards local territories usually with the goal of developing their local resources one of which is local infrastructure. This infrastructure is usually financed by public and private sector capitals. The main objective of this study was therefore to prospect the contributions of microfinance social innovations to public local infrastructure development in local councils in the South, Far North, South West, and North West regions of Cameroon. Government’s periodicals and literature on microfinance were used for data collection. The data were analyzed according to contributions, determinants, and challenges of microfinance social innovations in the context of public local infrastructure development in local councils in the regions studied. The findings revealed that the North West and South West regions which retain a higher number of Microfinance Institutions are amenable to more microfinance social innovations which are likely to increase public local infrastructure development in their local councils. This is not the case for the South and Far North regions. Meanwhile, the core challenge faced by municipal authorities in creating public local infrastructure is the lack of mastery and non-respect of both non-financial and financial regulations. We suggest based on the findings above that local councils studied should increase stakeholders’ cooperation and participation in public local infrastructure development in their localities, if they hope to boost public local infrastructure development in their municipalities.
    VL  - 9
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