The Annual General Meeting of the Cameroon Cooperative
Credit Union League-CamCCUL LTD holding in Bamenda at the Pastoral Center,
Up-Station this 28th Day of June, 2014, having discussed and deliberated
on various issues featuring on the Agenda, hereby adopts the following
resolutions.
1) The various
reports as presented are discussed and amended including the appropriation of
the financial results for the year ended 31st December 2013, the
2014 operational and investment (CAPITAL) budgets are hereby adopted. Quitos is
thus given to the Boards, Management and Auditors on the said reports and their
implementation.
2) The CamCCUL
network thanks H.E the minister of Finance and the Government of Cameroon for
laudable efforts of the Director General of Taxes to resolve burning tax issues
related to our sector. We again humbly appeal to government to create a
specific and simplified tax regime for microfinance institutions. Management should
ensure that Tax seminars and trainings are envisaged in 2014 going forward.
3) In view
of the urgent need to reorganize the CamCCUL network, from the affiliates
through the chapters to the Apex organ, in line with current realities of
membership, volume of transactions, financial weight of credit unions,
geographical and compliance considerations, the Board of Directors (BoD) and
Management of CamCCUL are mandated to fine tune a new organigram and putting in
place a five year development plan (2015-2020) with the help of experts assistance.
4) An Ad
Hoc Strategic Reflection Committee is hereby created and placed under CamCCUL
BoD whose assignments amongst others will be to reflect on the five years development plan, the
organogram, facilitate in the review of the various policies and also to act as
Think Tank on various other important issues affecting the CamCCUL network.
5) Following
the growing delinquency in the CamCCUL network, the BoD and Management are
mandated to take urgent measures to put in place new recovery strategies to
curb delinquency in the CamCCUL network using available resources at their
disposal. They are also required to organize more recovery sensitization and
workshops within the CamCCUL Network.
6) The delegates
positively appreciated the finished work of the CamCCUL building at the Bamenda
Commercial Avenue and urge Management of CamCCUL to take all necessary measures
to get electricity and its accessories connected into the building to make the
same fully habitable.
7) The Board
of Directors and Management are mandated to urgently ensure the
restructuring/revision of some key policies of the network, notably in the
domain of lending and recovery, the Internal Rules and Regulations, money
laundering and fight against terrorism and risk management. In this vein and
following the resolutions of the G37 meeting in Bafoussam in 2012, risk
management rates are reduced down from 80 to 65 per one thousand.
8) The CamCCUL
network takes cognizance of the recent COBAC conditional approval for the entry
of a new investor from South Africa into the capital and management of UBC.
CamCCUL BoD is mandated to continue to negotiate with other
shareholders/stakeholders of the bank, the new investor, COBAC, MINFI and other
administrative authorities, taking necessary measures to protect the bank and
our investments.
9) Credit
unions are encouraged to participate in the relevant international and national
conferences especially those organized by WOCCU, PROXFIN, ACCOSCA etc and to
sensitize their members and take adequate measures to participate massively
during celebrations marking International Credit Union Day and other such
events locally. It was resolved that the International Credit Union Day be
celebrated this year in Bafoussam.
10) The CamCCUL
network is appreciative of the kind gesture from our various partners,
including SOWEDA, ADPAM, the German International cooperation(Giz), MINEPAT,
CAT-CAMEROON, PADMIR, the AGRIFIN INITIATIVE and the Belgian Raffeisson
Foundation (BRS) who have in the last few years supported CamCCUL
intellectually, financially, materially and otherwise, to the upgrading of its
internal processes.
11) The
CamCCUL Board of Directors and Management are instructed to ensure that the
necessary corrective measures recommended by the last COBAC controls are
implemented in the entire network with emphasis on the network discipline as
contained in CEMAC/UMAC/COBAC regulations on microfinance activities
12) The recommendations
in the audit report of CamCCUL and the credit unions on issues and
irregularities identified by the COBAC control and CamCCUL audits should be
strictly followed up in order to ensure the proper functioning of the CamCCUL
network.
13) The delegates
take recognizance of the numerous applications presented for the affiliation
into the CamCCUL network and mandates the BoD and Management to follow up these
in line with the applicable procedures of CamCCUL. On the issue of
disaffiliation, members resolve and reiterate that credit unions wishing to
withdraw their membership should do so in strict respect of the various regulatory
and statutory provisions and in particular the instructionof H.E The Minister of
Finance vis-avis the disposition of the CEMAC/UMAC/COBAC regulations on
microfinance activities.
14) In order
to mitigate the various risks encountered by CamCCUL and its affiliates in the
various aspect of their operations, the BoD should constitute a risk mitigation
committee at CamCCUL and at the level of its affiliations, to help mitigate these
risks.
15) CamCCUL
should lead a delegation to meet with mamangement of CDC in a bid to resolve
the issue of non-payment of Receivables to CamCCUL affiliates.
16) Validates
the election of Mr. Fongu Julius Atanga, President of Bayelle Cooperative
Credit Union by the Bamenda Chapter in replacement of the vacancy in the
Supervisory Board of CamCCUL.
17) Members
note with dismay, acts of insecurity and organized blackmail against CamCCUL ,
its credit unions and officials. The BoD, Management and the Strategic
Reflection Committee are hereby mandated to take all necessary legal and other
actions against such individuals and their sponsors.
Done in Bamenda this 28th day of June 2014
Sign:
Secretaries: Fombin
Raphael, Nzoupet Lemou Merlin
Scrutinners:
Nzegge Joseph, Guietang Bernard, Nello Francios
Chapter
Representatives: Bamenda, Fako, Kumba, Douala, Fundong, Kumbo,
Nkambe, Mamfe, Bafoussam, Garoua
When News Breaks Out, We Break In. (The 2014 Bloggies Finalist)
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