Multifarious Actions To Attenuate Charges On Parents

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Multifarious Actions To Attenuate Charges On Parents

23 août 2022 03:12

The government, financial institutions and other groups are providing different ways to ease the burden of back-to-school on parents and sponsors especially during this period of generalized inflation.

Cameroon just like many countries in Africa is not spared by the effects of the Russia-Ukraine war in Eastern Europe which is having a heavy toll on the economy. As a result of disruption of supply chains, rising costs of inputs and increase in maritime freight rates, prices of basic commodities include petroleum products has increased in the international market, causing generalized inflation. The price hikes perceptible on almost every commodity has greatly affected household incomes and reduced purchasing power of denizens. This international situation is coming at a time schools are reopening their doors in Cameroon for the 2022/2023 academic year slated to kick off on September 5 throughout the country. As the government gendarme in the domain of prices, the Ministry of Trade through its devolved services are constantly in the field to check abusive price hikes. The control, Cameroon Business Today gathered are not only limited to the markets but also to schools to check illegal and exorbitant sales of school materials like textbooks, uniforms amongst others. These actions by the Ministry of Trade are intended to protect the vulnerable consumers from exploitation. As far as school textbooks are concerned, the National Commission for the approval of school textbooks had published the list of books selected long ago with the various prices. On another dimension, financial institutions like banks and micro finance establishments are waging in to provide palliative financial solution to parents through loans with competitive interest rates. The financial institutions have been on offensive to outsmart each other in providing the needed financial packages to parents. Various media platforms are awash with seducing banks’ adverts for school fee loans. The financial institutions have also adopted Short Mobile...