Shey Musa Nfor, President of the Cameroon Cooperative Credit Union, CamCCUL has praised the Cameroon government through the Ministries of Finance, Agriculture, Livestock and the Security services for constantly standing by CamCCUL since 1963. Musa Nfor was speaking during festivities for this year’s celebration of the International Credit Union Day in Bamenda. President Shey Musa Nfor revealed to the approximately 10.000 members who had converged at the Bamenda Congress hall that credit union in Cameroon started with a first saving of 50 frs. He observed that 16 members saved 2100 frs in 1963.
Today noted the CamCCUL boss, the Credit Union in Cameroon can boast of more than 228 credit unions branches including a 167 billion francs CFA as savings from close to 2million members. “CamCCUL is number one in sub-Saharan Africa and amongst a worldwide net work of over 200 million members spread in more than 100 countries operating under 56.000 Credit Unions.” Shey Musa Nfor added. He called on Cameroonians to join the Credit Union train and finally appealed to the Cameroon government to speed up the special tax regime for Credit Unions and help tackle the problem of delinquent borrowers.
For his part, the special representative of the North West region governor, Mokaongy Charles, said the state will always remain thankful to CamCCUL in its efforts aimed at poverty alleviation, economic prosperity, the micro-credit grant, capacity building and the education of the Cameroonian child. To this he said the Cameroon Government sees the Credit union movement as a commendable partner in development adding that the magnificent CamCCUL building at Commercial Avenue, Bamenda (seen here) was a true testimony of the democratic spirit that reigns within the organization. The Governor’s representative concluded that government shall do all it can to protect all her institutions.
This year’s celebration that held under the theme “People Helping People” saw the participation of religious as well as traditional authorities. The Government Delegate to the Bamenda City Council Mr. Nji Ndomo Vincent thanked the management of CamCCUL for letting those who save money have confidence in them qualifying it to the credit unions motor of *Borrow wisely and pay promptly*.