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Cameroon: Women Want Loan Policies Relaxed for Them
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The Post (Buea)
24 March 2008
Posted to the web 24 March 2008
Olive Ejang Tebug Ngoh
Women of the Self-Reliance Cooperative Credit Union Limited, SERECCUL, Kumba, have appealed that loan policies be relaxed so that women could have more access to loans.
The women were speaking recently during their 9th General Assembly meeting that took place at the Presbyterian Youth Centre, Kumba.
A member, Hannah Modiki, disclosed that most women need loans to do business, but lack collateral security. She said women rarely own land and good movable property that could be used as collateral to obtain loan.
She regretted that this has caused them to languish in poverty, especially those who are widow. According to her, their loan policy should give more access to women who form the majority of the Union.
Reacting to Modiki's plea, the Southwest chapter President of the Cameroon Credit Union Limited, CAMCCUL, Barrister Collins Teku, assured that they have sent proposals to OHADA for a relaxation on loan policy.
He said besides land certificate, members could use other documents recognised by the union to obtain loan. The president said such documents should be genuine and must act as collateral security.
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In an earlier report, the President of SERECCUL, John Tansa Gamje, disclosed that women are reluctant to obtain loan because of fright. He explained that out a total of 953 members only 179 took loan in 2007, which gave very little benefits to the union.
He encouraged women to take meaningful loans to improve the overall interest rate of the union.According to him, it was the interest levied on loans that is used to run the organisation. "If you don't obtain loans, how do we raise money to man the day-to-day activities of the union?" He questioned.
Gamje lamented that it was for this reason that they would soon launch a Flying Cash Transfer Service to transfer money to members in and out of Kumba.
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