Mutual for the Promotion of Saving and Investment Credit, MUPECI, a micro finance organization attached to CAMCCUL, has opened a branch in Bangem.
This took place during a sensitization meeting with farmers at the Bangem Council Hall, June 19, 2024.
Addressing farmers in the hall, the President of Bangem Farmers’ Cooperative, BAFCOOP, Henry Nzuobontane, who lobbied for the MUPECI project, disclosed that the coming of the micro finance institution to Bangem is the best thing that has happened to farmers.
He announced that this is a poverty alleviation scheme that all farmers in the sub division must embrace because it has come to stop the exploitation of farmers.
Poverty Alleviation Scheme
Nzuobontane who is also Director of Rural Youths Leadership and Sustainable Development, RUYOLSUDEV, disclosed that the financial institution is a poverty reduction scheme aimed at transforming farmers.
He lamented that farmers sell food and cash crops at millions of FCFA weekly, monthly and yearly but are so deep in poverty because they lack the ability to save.
“With this situation, they easily fall into the hands of unscrupulous lending agents within their communities to borrow money at 100 percent interest rate (ten born ten). This is treachery to farmers”. He cried.
The Director told farmers that with the micro finance, they can easily save their money and withdraw when need arises, or borrow at one percent interest rate.
Nzuobontane, who is also National Treasurer of the Association of Banana/Plantain in Cameroon, said it was this same bank that assisted farmers in the Sub Division with 500 bags of fertilizer in February 2024 through the plantain value chain project championed by RUYOLSUDEV to BAFCOOP.
He said about two hundred farmers are already part of the micro finance scheme. He called on all farmers in the sub division to open accounts at the bank to benefit enormously from its services.
The president announced that while the head office will be in Bangem, agents will visit all the villages in Bangem Sub Division on their market days to get farmers carry out transactions with the bank.
Employment Opportunities
Also speaking at the event, the Branch Manager, MUPECI Melong, Kiampi Tamon Colince, promised to serve the people of Bangem with all diligence and commitment.
He said employment opportunities are now open for sons and daughters of Bangem to work with MUPECI.
Kiampi assured that with their 21 years of existence with branches all over Cameroon, farmers should have confidence in their operations and services.
Also, Petkeu Guy in charge of customers’ services at MUPECI Melong branch added that once a member of the bank, Bangem farmers can do their transactions at the various branches all over Cameroon free of charge.
He was satisfied with the peaceful nature of Bangem that has permitted them to open a branch in the sub division.
Farmers React
Tengum Evaristus Takang, a farmer in Bangem lauded Nzuobontane for standing as a bridge to farmers in the sub division. He said as the head of RUYOLSUDEV and BAFCOOP, Nzuobotane is doing all to improve the status of farmers.
Takang promised to educate and bring more farmers to join the bank.
Regent Chief Elume Alexis of Njom villagem while opening his account, pleaded with the financial institution to stand by all its tenets as sensitized in the meeting.
He regretted that in the past, about two banks have disappeared with farmers’ money.
By Olive Ejang
