The Agriculture Finance Support Facility (Agrifin), a US-based program of the World Bank, is co-funding a USD 2 million project of the Cameroon Cooperative Credit Union League (CamCCUL), a microfinance institution (MFI) and network of 208 credit unions, that is intended to improve the volume and profitability of agribusiness lending of its members. Agrifin has granted USD 1 million to the project, which will be launched on April 1.
As part of the project, CamCCUL will: (1) update agricultural lending documentation; (2) develop new parameters and reports for its agricultural portfolio; (3) create a system for client satisfaction evaluation; and (4) train staff and board members at CamCCUL.
Projected outcomes for the project include making three to four new products available to clients, obtaining an updated management information systems permit to track and analyze agriculture loans, and achieving a loan-loss rate below one percent. CamCCUL hopes to increase the number of outstanding agricultural loans to 54,000, increase the gross loan portfolio to XAF 37 billion (USD 7 million) and decrease gross non-performing loans by eight percent by the end of 2014.
By Charlotte Newman, Research Associate
About Cameroon Cooperative Credit Union League
Formed in 1968, the Cameroon Cooperative Credit Union League (CamCCUL) is a network of 208 credit unions that also offer microfinance services. CamCCUL re-registered under the cooperative law in 1994 and has been registered by the Banking Commission of Central Africa (COBAC). In 2010, it reported a gross loan portfolio of USD 141 million disbursed to approximately 74,000 clients. Its member institutions serve approximately 1.5 million clients.
Sources and Additional Resources:
CamCCUL: “CamCCUL / Agrifin Intiative- Expanding the Frontier of Agricultural Finance Within the CamCCUL network,” http://www.camccul.org/camccul.org/newsroom_more.php?lang=en&cod=22208
Agrifin: “Cameroon Cooperative Credit Union League,” http://www.agrifinfacility.org/afsf/node/94
MicroCapital.org story, January 17, 2012, “MICROCAPITAL BRIEF: responsAbility Lends $3m to Microfinance Institutions Advans Cameroun, Opportunity International Bank of Malawi,” https://www.microcapital.org/microcapital-brief-responsability-lends-3m-to-microfinance-institutions-advans-cameroun-opportunity-international-bank-of-malawi/
MicroCapital.org story, July 5, 2011, “MICROCAPITAL BRIEF: BlueOrchard Loans $1.1m in Local Crrency to Cameroonian Microfinance Institution (MFI) Advans Cameroon,” https://www.microcapital.org/microcapital-brief-blueorchard-loans-1-1m-in-local-currency-to-cameroonian-microfinance-institution-mfi-advans-cameroun/
MicroCapital Universe Profile: Cameroon Cooperative Credit Union League
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cameroon+Cooperative+Credit+Union+League+%28Cam+CCUL%29
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