Saturday, January 9, 2010

Complains about Debts by Goverment

CAMCCUL complains about debts by Goverment. The National President of Cameroon Credit Union League (CAMCCUL) Mussa Shey Nfor, has expressed worries over circa 1.250.000.000 FCFA (one billion two hundred and fifty million) owed CAMCUL by the Cameroon Government since the liquidation of Credit Agricole du Cameroon (CAC) and Meridian BIAO Bank as a result of the 1990 bank crises.

He lamented that thousands of rural men and women have died of the frustration while those still living are languishing in their old age and socially paralyzed by the long financial holdup.

The President was speaking during celebrations marking the 61st International Credit Union Day in Bafoussam, Saturday 17th October 2009 attended by Vice Prime Minister, Minister of Agriculture and Rural Development, Jean Nkuete the Governor Pascal Mani, Governor of the West Region, Religious, Administrative and Traditional authorities from across the national territory and over 1000 Credit Union, stake holders.


The theme of the celebration 'your money, your choice, your credit union' according to the President is so logical because it came amidst combined world financial and food crises, responsible for protracted health crises.

In spite of debts owed them; the president appreciated the government through the Prime Minister for the meticulous implementation of government action in favour of the poor. The laudable initiative of the Ministers of Finance of the CEMAC Sub Region to face the current world financial instability, the key successes of the partnership of CAMCCUL with ADPAM Project with MINEPIA, SOWEDA Project, Microcredit using CAMCCUL Credit Union during the FIMAC Project were some of the joys of the President.

He gave a special recommendation to the activeness of women who constitute over 91% of agriculture producers and 68% of the rural women who contribute over 40% of the national economy.

Speaking earlier, the Government Delegate to the Bafoussam City Council, Emmanuel Nzete, lauded the effort by CAMCCUL in alleviating poverty in Cameroon. An effort he said must be copied by some micro-finance institutions.

In response the Vice Prime, Minister of Agriculture and Rural Development Jean Nkuete, lauded the economy and social contributions made by CAMCCUL both at national and in the CEMAC Zone. He said such contribution to the nation-building should be copied by other Micro-finance institution to assist government in nation-building. He enjoined the management of CAMCCUL, not relent in its global initiative geared towards poverty alleviation.

The colorful event was spiced with march-past and traditional dances.

By our news desk

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