Saturday, November 3, 2012

BAPCCUL Joins 111 Other Credit Unions to Vote “Yes” for 3 Years Mandate Renewable Twice

Just about two months from the time when the process to harmonize the Cameroon Cooperative Credit Union League-CamCCUL, kick-started in the field, some 111 out of 117 credit that have held their extraordinary General Assemblies unions of the 200 nationwide are reported to have voted “yes” for the 3 year mandate renewable twice. According to information gathered the 3 years mandate renewable twice as prescribed by the Minister of Finance is being given a yes. Friday November 2, 2012, members of the Bamenda Police Cooperative Credit Union joined 109 other credit unions to validate the process in order to enable CamCCUL to implement all necessary reforms based OHADA Uniform Acts which Cameroon is a signatory. In an interview with journalists in Bamenda after the meeting Musa Shey Nfor said it was an opportunity for members to express opinions and even their contrary. He added that with “more than 95% already voted yes for the three year mandate renewable twice” it is clear that members are aware of the stakes and would not allow detractors to put their savings in danger. The Extraordinary meeting of the Bamenda Police Cooperative Credit Union took a dramatic twist when Barrister Kemende Henry moved to the rostrum   to enjoin CamCCUL management for implementing the law. “I have not been against the system but I have been against the old executive still in office after their mandates expired. It was wrong for people elected to hang on power. As to whether the incumbent should go to elections, I wanted the chance by which the mandates should be renewed”. Barrister Kemende who from the start was against the ongoing process took members aback when he stood up and outlined some pertinent points why the process would be more useful for the sustainability of the leading micro finance network in Cameroon.
It should be recalled that the Minister’s instruction was poorly interpreted by a group of people who see nothing good in anything except in form of bread as “CamCCUL Crisis” yet they have started back paddling in favour. The most interesting thing is that these very reforms were debated upon democratically and adopted by affiliates of CamCCUL during an extraordinary meeting in Buea in 2011 in what was formerly known as “Model Credit Union By-laws”. The Buea meeting was later followed by another by a team of legal experts in Bamenda on July 6, 2012. However, some credit union leaders just a handful who endorsed the resolution moved on tree tops and started creating disorder. They were joined in the mess by former NW Governor Abakar Ahamat who frustrated the process until the Minister of Agriculture, Minister of Finance and Territorial Administration intervened to call him to order. As a supervisory monetary authority, the Minister of Finance had to step into the scene to stop the wrangling. However, nothing was change, rather the Minister gave instruction for the process to start from naught and give a timeframe within which it should be completed. He instructed that affiliates of CamCCUL should vote new mandates from amongst four options. The options are: Five years renewable once, three years renewable twice, four years renewable once and three years renewable once. The process is overseen by representative of the administration, representative of the Minister of Finance, the representative of the Minister of agriculture and CamCCUL. However, some credit union leaders especially of the Azire Credit union have been trying to frustrate the Minister’s instruction by carrying out wrong procedures. A week ago, an Extraordinary meeting by the said credit union was banned because it did not respect the timeframe led down. With already 111 of credit unions of 117 having voted for the three year mandate renewable twice, there is hope that the process will be hitch free contrary to what detractors had predicted reasons why some of them have started back-paddling.
With these results already recorded, one can predict the outcome of the issues on mandate and eligibility. 

When News Breaks Out, We Break In. Minute by Minute Report on Cameroon and Africa


D2K2007 said...

you guys are doing just very well.keepit up with the info you give to your people for them to be informed

D2K2007 said...

keep the happy with the news you guys are giving