BAPCCUL Joins 106 Credit Unions To Vote 3 Years Mandate Renewable Twice And Yes To Eligibility

The white ballot carried the day last Friday November 2, 2012 during an extra ordinary session of the Bamenda Police Cooperative Credit Union League, BAPCCUL. Over 95% of BAPCCUL members, voted for a 3 year mandate renewable twice to join 106 others in the Credit Union reform process. Members took this position in a vote, carried out under the watchful eyes of Sheriff Bailiff, Maitre Njoya. Also present was the Divisional Officer, DO for Bamenda III, representing his boss (Minister of Territorial Administration and Decentralization). Also, the Minister of Agriculture and Rural Development just as his counterpart of the Ministry of Finance were conspicuously represented.

BAPCCUL’s position came to put to rest, months of speculations as to what position it would take, given that this is the base of Musa Shey Nfor.

Crux of the Matter:

Two months into the ongoing harmonization process within the Cameroon Credit Union League (CAMCCUL) network, all is reportedly going on hitch free. For about two months now, Credit Union Chapters have been taking turns organizing their Extra Ordinary General Meetings to resolve on the mandates and eligibility of Board Members as instructed by the Minister of Finance. It should be recalled that the Minister’s instructions were predicted on what some people prefer to refer to as “CAMCCUL Crisis” that rocked the Micro Finance institution following attempts by some misguided individuals who elected to derail CAMCCUL from implementing reforms based on the OHADA Uniform Acts which Cameroon is a signatory.

It is also imperative to recall here that these reforms were deliberated upon and democratically adopted by all CAMCCUL affiliates during a CAMCCUL Extraordinary General Meeting that held in Buea in December 2011 following the committee work by a crack team of legal minds that educated over 1500 officials from the entire CAMCCUL network at Azam Hotel Bamenda from the 15^th to 16^th July 2011. The so called CAMCCUL Crisis started when one of the credit union leaders who attended and participated at the Buea 2011 CAMCCUL meeting and endorsed all the resolutions turned around and started criticizing and attempting to block CAMCCUL from implementing the reforms. As the monetary Supervisory Authority, the Ministry of Finance stepped in, the outcome was a series of instructions dished out to CAMCCUL and its affiliates ordering them to go back and convene extra ordinary meetings and vote new mandates from amongst four options vis, five years renewable once, three years renewable twice, four years renewable once and three years renewable once. Based on the Minister’s instructions, credit unions held meetings and agreed on a time table for the exercise to run from September to December 2012. Besides voting for the mandates of their elected officials, credit unions have also been tasked to decide on the conditions of eligibility.

According to the Directives from H.E the Minister of Finance dated 3^rd July 2012, an extraordinary general meeting of CAMCCUL shall be organized at the end of the General Meetings of the Credit Unions. The purpose shall be “to centralize the results of the individual credit unions and the majority votes shall automatically become the position for all the credit unions of the CAMCCUL network”.

This majority position shall be applicable to all the credit unions. Meanwhile those in the minority positions shall have to hold other extra ordinary general meetings to adjust to the democratic majority. This will undoubtedly entail additional expenditure, time wasting and distraction from recovering loans from delinquent members.

Field Results From The Ten Regions Of Cameroon

As at the time of going to press, our field reporters furnished us with updates to the fact that 115 credit unions out of about 200 active credit unions had already communicated the results of their extra ordinary general meetings.

Duration and Mandates

106 of the 115 credit unions so far have voted for the 3 year mandate renewable twice giving about 93%. Only 009 credit unions have voted for 3 years renewable once giving about 07%.

Eligibility Conditions

109 of the 115 credit unions have voted for YES about 95% while only 007 credit unions voted for NO about 5%. Worthy of note, are the facts that: all the credit unions in the Littoral, Centre, South, East, North, Extreme North, North and South West Regions that have already voted have voted for the Buea 2011 mandate of 3 years renewable twice except for SCECUDS in Dschang. The 07 credit unions that have voted NO include Kimbo Police, Shisong, Tatum, Nkor, Kikaikilaki etc all in the Kumbo chapter. However in the same chapter, Manchock (Oku), Mbiami voted YES. Elsewhere in the North West Region, all the credit unions in Boyo, Menchum and Donga Mantung divisions have voted YES just like is the case with all the credit unions in Meme, Ndian, Kupe Muanenguba, Manyu, Lebialem and Fako divisions so far.

Special Echoes

The Buea Police credit union with over 5700 members held its meeting in total serenity. This was the same case with Buea P/T Credit union with over 7000 members and with close to 2.3 billion as share/savings, not leaving out Limbe Council, Victoria Town, Bota Engineering, Tiko Credit Unions etc. Speaking during different sessions, the representatives of MINFI, MINADER and MINATD congratulated CAMCCUL and the members of the credit unions for their transparency, maturity and respect for one another and the administration in particular. Mr. Ndzana Victor and Mr. Ongolou Maxim both Directors from MINFI said their presence on the field had permitted them to witness free decisions by the members contrary to earlier petitions claiming manipulations. Other interesting and similar EGMs held in Manjo, Penja, Loum Ville, CEC-PROM Douala, MUDEP Yaounde etc. Representing the Minister of Finance in Penja and CEC-PROM Douala, Mr. Aka’a praised CAMCCUL for the wonderfully organized and peaceful meetings. He went further to say field realities are truly different from some biased reports as he had seen the truth on the field through the results without any manipulation. Madam Ngatchou Jeanne d’Arc, President of CEC-PROM Douala said money does not like noise and so nobody should bring politics into the credit unions as is the attempt by some selfish individuals most of whom are chronic debtors.

The members in BBH Kumbo did not enjoy the same serenity as elsewhere. Their extra ordinary general meeting ended in a fiasco as even a third round of voting could not give a two third majority win as requested by law for EGMs. The members went home in total frustration and disappointment with the expenses of another general meeting for the same exercise which is likely to reduce interest on their savings. Prior to this meeting, tempers flared during the Kimbo Police general meeting which ended without the adoption of the by-laws. The reasons being that the union president was accused of acting against instructions of MINFI which required that the model by-laws adopted in Buea in December 2011 by all the credit unions be used as model, changing only the Mandate and Eligibility. The MINFI, MINADER, MINATD and CAMCCUL officials expressed surprise with the teleguided incitement of members which could jeopardize recovery of loans.

Conclusive Predictions

Going by the MINFI’s instruction of the 3^rd July 2012 and considering the results so far available, one can safely, freely and reasonably predict the outcome of the issues on Mandate and Eligibility. With already 106 credit unions out of about 200 having voted for 3 years renewable twice and representing more than half of the total credit unions in the CAMCCUL network, it is evident that this option will carry the day. Equally, with 109 credit unions having voted for YES, the prediction is the same. This trend seems to be consistent with the resolutions of the 44^th Annual General Meeting of CAMCCUL that held on 30^th June 2012 in Azam Hotel Bamenda during which all the chapter reports submitted reiterated their stand in favour of the 3 years mandate renewable twice option and the fact that the law is non retrospective.