With Growth In Sight, Bafut Cooperative Credit Union Aims At Expanding

 The ambition and intensions of each and every credit union is to ensure growth at every levels and also ensure that all her members grow as well lips and bounds. 

                   BOD's at BafCCUL AGM.

This, goes in line with what the Bafut Cooperative Credit Union has achieved for their years in existence in the financial domain in the North West region and beyond. The union which had gained growth in members as at 2021 and going further this 2022, has laid down great ambitions to expand it's tentacles to other regions where they equally have a good number of members in those areas. For the year 2021, the union succeeded to register 1029 new members representing a 7.5%  making a total of 14,656 members as compared to 13,631 members in 2020 who are part and parcel of the credit union. With such number of members, the union currently operates 10 branches based in Ndop, Yaounde, Douala, Kumba amongst others which are well situated for the benefit of doing business with their customers. Thanks to various innovations implemented like the introduction of the RIA, Visa card, inter branch transactions, internal money transfers, the clearing of containers for members and other mobile money services, the union plans on tightening the security at the various locations of the union such that members' trust in doing business is enhanced.

Meeting at their 57th AGM at the Congress hall, the president Chenwi Samuel noted that the Union had a growth of 9.5% in shares, 33.5% income/expenses, 15.3% savings and 27.3% loan increases and loan delinquency of the union standing at 40.7% dropping from 48.7% in 2020. "We intend this year 2022 to enforce more stringent measures in fighting loan delinquency, complete the implantation of new products and services, continue sourcing for more income generating avenues, complete the interconnectivity of branches and the follow up of recovery funds due BafCCUL with CamCCUL and Reccucam amongst many other innovations." Chenwi Samuel, president of BafCCUL highlighted while encouraging members to explore the services at their disposal.

Partial view of BafCCUL members at AGM.

With the main aim of always making the customers satisfied, the general manager of BafCCUL Neba loius Atahsi said their target for this year running will "be to increase the amount in dividents and to bring in more products like the World Remit which the members have been requesting." 

Neba Loius Atahsi, GM of BafCCUL speaking to the media.

"The year 2021 was not all that the best due to the health and Socioeconomic crisis. We are struggling to see that this year and further, members can log into their accounts from all the branches and we will keep striving to empower all our members." General Manager, Neba Loius Atahsi intimated.

The projection of BafCCUL for the year 2022, sets an increase in membership of 14,832, savings of 90%, deposits of 124%, loans of 116%.

By Peter Tasi.

Photo credit: Atigi Samuel

NtaCCUL Wins 8153 more Members Takes Challenge to Embark On More Projects Despite Crisis, Covid-19

The management of Ntarinkon Cooperative Credit Union Limited  dubbed NtaCCUL has promised to envisage more beneficial projects to its customers this 2022.

Part of NtaCCUL members during 35th AGM.

Though the Anglophone crisis and covid-19 have slowed down some of its projects for the past months, the Credit Union promises to stand tall this 2022 and work beyond expectations that will be beneficial to all its customers.

This information was made known during their 35th Annual General Meeting on Sunday January 23, 2022 at the Bamenda Congress Hall.

According to the management report presented by Fru Isaac Taku, Board President of NtaCCUL, there are projects to create a Limbe branch, completion of the Melen branch, rehabilitation of the Foodmarket and Ntarinkon branches and many other enriching projects that are beneficial to its customers. Looking back at some of its successful projects that were realised in 2021, Isaac Taku explained the importance of the prudence in granting loans, the prevalence economic motive behind investment decisions, rigour in recovery, collaboration, hardwork and commitment of all internal stakeholders, the constructive criticism of members amongst others which greatly elevated NtaCCUL to maintain her head out of the water. 

Fru Isaac Taku, President of NtaCCUL speaking to the press.

"The business plan for the period 2019-2021 was successfully implemented and during this period, the total balance grew by 53% compared with the projections of the business plan. 2022 marks the beginning of the execution of a new business plan that spans through 2022, 2023 and 2024." Fru Isaac Taku highlighted.

Citing the Anglophone crisis and covid-19 to have retarded movement of persons in the crisis hit regions and Cameroon at large, Isaac Taku said they have gone digital by introducing World Remit, Ria, MTN and Orange Mobile collections and especially the Cloud bank application which have been introduced to continually help its customers to do transactions at home or without stress.

For the year 2021, NtaCCUL registered 8153 new members representing a 12% increase with total members of the Credit Union standing at 74,068 as at December 31, 2021 and the management plans on performing market researches in other areas so as to boost more members joining as well as the creation of new branches.

Citing the achievements which NtaCCUL recorded during the past year, the president noted that the Union had an increase in shares of 285,595,964 Frs CFA and a growth rate of 13%.

Ade Muma, General Manager of NtaCCUL speaking to the press.

Talking about the credit Union's loan delinquency which stands at 20.5% the General Manager said they will reduce the amount of money being lent " the first thing to do is to cut down on the lending and master the people who are eligible for the loans. We are going to reinforce recovery for the old loans. Our loan recovery task is at work and we hope to reduce the loan delinquency to an acceptable level," the Union's General Manager, Ade Muma said. While adding that "For the past five years we have been selected the best micro finance institution in Cameroon because we are paying interest of 6% to members , we listen to problems of members and we give them solutions. We want to remain as the number one micro finance institution in Cameroon," Ade Muma  said.

With all the successful projects carried out in 2021, the Credit Union also recorded some set backs due to the socio political atmosphere and insecurity in the crisis regions. " We were full of fear when moving in the interior areas for sensitisation," Mambo Delphine, the chairlady of the Women’s Committee said while adding that they succeeded to through their sensitisation activities with over 1000 accounts opened by individuals, groups as well as more women.

At the close of the 2021 AGM, the union's president Isaac Taku assured the members that they will be credited an interest paid on savings for the year 2021 while hoping to step up this 2022.

NtaCCUL recorded an increase in membership of 74,068 in 2021 as compared to 65,915 members in 2020 representing a 12% increase.

By Peter Tasi

CDENO Aims To Solve Equation Of Demand, Supply In Chicken

   Festive periods have usually been characterized by price hikes caused by scarcity of chicken and related poultry products. The Christmas and New Year celebrations necessitates an increase in demand which conversely can not meet supply.  

        The December period of the year 2021 was not different as the demand and price hike witnessed in chicken sent many households to abstain from getting chicken to feast with. With the increase in the price of chicken due to the high demand which did not meet supply regulations, many opted for other means thus forgoing the usual tradition which many had kept to always have chicken on their food menu during the December festive period.

  To this regard, the North West Livestock Development Fund dubbed NWLDF has during it's 54th board meeting and budget session chaired by governor Adolphe Lele Lafrique, nursed plans for this 2022 to come to the aid of chicken consumers who have been complaining of the price hikes of table birds in the market. 

DG of CDENO, Mbah Shupong Michael speaking to the press.

"We had launched the production of day old chicks highly needed in the NW and we produced 52000 by November 15 2021, which means that by the 31st of December 2021, we were on about 80000 day old chicks produced in 2021 and we envisage to increase the capacity this year to about 120,000 to help solve the problem of scarcity of day old chicks in the region and eventually help to reduce the impact of shortages during the festive periods." Shupong Michael highlighted.

  Quizzed on whether there were still importations of day old chicks from neighboring West region, the Director General of CDENO, Shupong Michael made it clear that the North West Livestock Development Fund intends to gradually export day old chicks from the North West to other regions reasons why for this year 2022, "we have decided to increase the capacity production of day old chicks in CDENO with an additional hatchery to increase the capacity to 60,000 and subsequently the possibility of instituting parent stock production in the North West. We want to have a capacity of parent stock production of a minimum of 10,000 and sure of producing 200,000 fertile eggs per month that will give us atleast 170,000 day old chicks and equally intend to increase the capacity of feed mill from 52tons to 120tons in 2022 with the intention to help the livestock farmers of the NW increase their income at same time reduce the impact of the weight that they have in preparing for the festive periods."

CDENO Board members at session.

  With the price hikes witnessed due to the increase in demand which was more than supply alongside the artificial scarcity created by some farmers, CDENO has concrete plans to increase fowls in the market during the festive season by assisting farmers with free day old chicks and feed that will be launched during a project for this 2022 for the livestock season to boost the produce of farmers and by August 2022 to also prepare the farmers with regards to the end of year festivities so that there are more than enough fowl supplies in the market that will quench down the prices of table birds in the market during such periods.

To note that the North West Livestock Development Fund, NWLDF with French acronym CDENO has as mission to take charge of animal production, animal health production, pasture improvement, capacity building to breeders and construction of livestock infrastructures.

By Peter Tasi

At Head of State's Address: Peace offer accepted by Tubah Population

 The satisfaction lived in Tubah Subdivision during and after the Head of State's speech to the Nation have been greeted with joy as the Tubah population have chosen to accept the Peace offer of the President of the Republic Paul Biya.

Massango Metougue Narcisse, Divisional Officer of Tubah Subdivision, reacting to Head of State's speech.

The end of year message of every December 31st had the Tubah subdivision for the first time since the instituting of Massango Metougue Narcisse as Divisional Officer for Tubah and in the history of the subdivision to organize a come together for listening to the Head of State's speech and as well communing like the last super which Jesus had with his disciples before the end of the year 2021.

Converging at the home of the Divisional Officer, the disciples of the Head of State in Tubah listened keenly to the orientation for the year 2022.

With the security situation of the region being shaky, the divisional boss of Tubah opined that " we hope that through the Head of State's mechanisms and through the various stakeholders, the Mayor and the commissioner of police, we would have to pull out some of our young children out of the bush and put them into the school which is the DDR so that we can have a peaceful Tubah." Massango Metougue Narcisse said while citing that the Tubah population remain proud of the Head of State and as well grateful for the various infrastructures that he has given to the young sports community of Cameroon and not being opportuned to host any group in the North West region, promised the youths and everyone in the subdivision to create centers where they can enjoy the moment via television giant screens.

Mayor Martin Tanjong, watching keenly the Head of State's address to the Nation.

Reacting to the speech on the point of the creation of other universities, Mayor Martin Tanjong saluted the President of the Republic for creating the universities given that education is a right and says the cristcrossing to other regions to acquire knowledge would be minimized.

With exportation encouraged and importations discouraged by the Head of State President Paul Biya, Mayor Martin Tanjong cited that " I am first of all happy with that the president made mention of custom duties issue which is one of the things that break down companies in Cameroon. In Tubah Subdivision, we produce alot of Irish potatoes, onion, ligs, vegetables amongst others which can be exported to other areas."

Mayor Martin Tanjong hopes that with the reduction in custom duties, the aspect of exportations from the Tubah municipality will gain steam so much so that the municipality grows economically.

The Tubah subdivision under a young and charismatic Divisional Officer Massango Metougue Narcisse just few months into office has been said to be a square peg in a square hole owing to that he has continued from where his predecessor left and is instituting several changes for the betterment of the Tubah population which he Shepard's.

By Peter Tasi