Bafoussam, Cameroon—The president of the Bamenda Police Co-operative Credit Union Limited (BAPCCUL), Musa Shey Nfor has been overwhelmingly re-elected as president of the Board of Directors of the Cameroon Cooperative Credit Union League (CamCCUL).
Musa’s mandate was renewed at the 48th Annual General Meeting (AGM) of the Micro Finance Institution in Bafoussam on Saturday June 25, 2016 as he garnered 146 of the 148 valid votes cast.
Speaking prior to his election, the incumbent CamCCUL president thanked the government as well as international and local development partners for choosing the MFI as a principal credible agent in poverty reduction at the grassroots.
He said the network is growing despite challenges, noting that while the credit unions are "using ATMs (Automated Teller Machines) for modernization, enemies of progress have developed and are using ABMs ( Automatic Blackmailing Machines) which consist of Rumour Harams aimed at spreading falsehood to create panic.”
Musa however rejoiced that CamCCUL has surmounted such challenges and changed senseless divisions into meaningful unity and solidarity through inclusive proximity financial services for members nationwide.
“From Batoufam, Kolofata, Meyong-Messala, Munyenge, Baatesing, Fura-Awa, Victoria, Garoua-Boulai, Nwa, Oku, Mora Mvondou…, CamCCUL network is making the difference,” Musa said calling on government to put in place accelerated, protected and truly simple loan recovery procedures for credit unions.
Musa was confident that if such loan recovery measures are put in place, it will “check the unfortunate attitude of those who borrow big from small credit unions, refuse to pay, but prefer to fight them using big means.”
On behalf of the Minister of the Economy, Planning and Regional Development (MINEPAT), the national director of the Sub Project for Poverty Reduction at the Grassroots (SPRPB-2), Bopda Florence said through CamCCUL the Ministry has been able to reach out to over 200 groups.
The General Assembly also adopted the league’s five-year development plan which amongst other things aims to improve on the measurement of performance indicators.
“That is one of the exigencies which we are very happy because all our international and national partners and the government ministries such as MINFI, MINADER, MINEPAT…which have given us the project want that we should continue along this line which has given us the credibility,” the reelected CamCCUL president said of the plan.
“Secondly, there is the chronic issue of loan delinquency, which is a national phenomenon and together with the government through the Ministry of Finance that is the key challenging area that we are going to tackle,” Musa added.
In an earlier address, West Regional Governor, Awa Fonka Augustine who chaired the opening ceremony of the AGM hailed CamCCUL for its poverty alleviation drive.
By Ndi Eugene Ndi with jottings from The Eye