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MFI Poverty Alleviation Drive Target Farmers 

By Chris Mbunwe — Farmers in Donga Mantung Division, Northwest Region, have started benefitting from a programme by the Bamenda Police Cooperative Credit Union, BapCCUL, to finance their farming activities. Speaking in Nkambe recently, BapCCUL General Manager, GM, Godlove Ngum, said, in order to track and monitor the funds applied for by members, a farmer is required to present a project for study, and then financing will be done by supplying the inputs.

Presently, a good consignment of fertilizers has been distributed to members of BapCCUL who applied for this agricultural loan, according to the BapCCUL GM. Gum, during an education general assembly, explained that, with AgriFin loan, cash is not given to an applicant. Rather, he said the project is examined and the Credit Union supplies the project requirements in phases.

Reasons for this method of financing, according to him, are to check excesses and to avoid mismanagement of the fund, common with cash financing. By this move, BapCCUL is intensifying efforts to curb poverty through agricultural financing dubbed AgriFin. Ngum also remarked that this programme is aimed at encouraging growth and wealth among members, in other words working towards making Cameroon an emergent economy by 2035.

To Ngum, the speed at which BapCCUL Nkambe Branch is growing in membership is very encouraging. In just two years of operation, he said, BapCCUL Nkambe branch can boast of 820 members with savings far above many credit unions. He disclosed that, in Donga Mantung, BapCCUL has opened two branches in Ndu and Nkambe that are faring very well.

The education meeting that took place in Ndu and Nkambe, respectively, was to keep members abreast with the day-to-day happenings in the network. Members were encouraged to always borrow wisely and pay promptly, and to minimise delinquency rates. The GM of BapCCUL reminded members that everybody has the right to take a loan provided he or she has the capacity to pay back on time.

First published in The Post print edition no 01437

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