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Title : Nkambe Town Cooperative Credit Union Takes Stock at 49th AGM
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Nkambe Town Cooperative Credit Union Takes Stock at 49th AGM

Tarlishi Oliver: President of NKaTCCUL

With a membership of 4,269 as at the day of the Annual General Meeting, the Nkambe Town Cooperative Credit Union LTD (NKaTCCUL) is one of the vibrant microfinance in Donga Mantung Division. The 49^thAnnual General Meeting (AGM) of Saturday February 3, 2018 was an opportunity for members to take stock, evaluate and make better projections for a fruitful 2018. Addressing members at the Nkambe Community hall, NKaTCCUL President Tarlishi Oliver Yinyu said that the year 2017 just ebbed out ushering another promising financial year for the microfinance. According to Tarlishi Oliver the socio political situation in the North West and South West Regions hampered the credit very negatively as loan payment has dropped and savings have recorded a geometric decrease. This he reiterated has also rendered most of the loans delinquent. “We pray for stability in our region/Cameroon at large this year 2018 so that we record a positive result at the end of the financial year”, he continued.  He however ended with a note of hope when he emphasized that the year 2018 is the third year of NKaTCCUL’s five year strategic development plan which will enable the microfinance to annul all losses incurred since 1968. He used the opportunity to dough a hat to members who save regularly, borrow wisely and repay promptly as well as the administration of of Donga Mantung Division for the enormous contribution to support NKaTCCUL in its strive to alleviate poverty in rural areas.

“I have a dream, I dream that come 2018, NKaTCCUL will stand on her feet and pay a better interest on members’ savings, increase membership, better living standards for her members by alleviating poverty and why not own a building that reflects our standard”.

Matters Arising

 By December 31, 2017 the total amount for shares stood at FCFA 99.387.000 as opposed to FCFA 94.423.000 for 2016 representing an increasing of FCFA 4.964.000 corresponding to 6.6% in relative terms.

On the other hand, Savings stood at FCFA 1.049.686.000 as against FCFA 1.057.763.000 indicating a decrease of FCFA 7.895.000. This is however very critical given that the growth of any microfinance depends on the saving habits of members. Though the delinquency rate and rate of loan payment was not mentioned, the report indicated that loan portfolio dropped from FCFA 756. 570.000 to FCFA 693.636.000. One of the major achievements revealed to members was the acquisition a building known as Fantasia located opposite Guarantee Express in Nkambe.

 



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