By Francis Tim Mbom
The budget of the National Ports Authority Cooperative Credit Union Limited, NPACCUL, in Limbe, has dropped from FCFA 238,257 500 last year to FCFA 193,397 500 for the fiscal year 2006.NPACCUL President, Joseph Azefor, disclosed the drop during their annual general assembly session that held in Limbe on Saturday, March 18 at the Presbyterian Youth Centre, PYC, Hall.
Azefor in a presentation of the accounts of the Union for last year said only FCFA 188,197 251 were realised. This prompted the budget to be limited at FCFA 193 million.
Giving reasons for the drop in what was realised last year, Azefor said that the Union recorded a drop in savings as well as loans that members requested by 1.63 percent.
Thus out of some FCFA 188 million that the Union budgeted to reap as interest from loans, only FCFA 108 million was realised.
In a bid to improve on the finances of the Union, Azefor proposed that the value of a single share be raised from FCFA 10,000 to FCFA 20,000. He argued that their Union was lagging behind as far as the value of shares was concerned.
He said there were other unions with share values as high as FCFA 100,000 per share. With this, the Union hopes to increase the members current share capital from FCFA 39 million to FCFA 90 million for this year.
He, however, stated that the Union witnessed an increase of 13 percent in membership. He lauded the fact that the women were increasingly joining the Union thanks to the efforts of the female committee of the Union.
The Assembly ended with the election of a new exco with Azefor maintaining his seat and Jean Avebe as his Vice. Samuel Meliki was elected to man the treasury of the Union while Diana Mbole will take charge of the Secretariat of the Union.
Iwill like the credit union to get more publicity and to be extended to the french speaking area if it is not yet there.
Thank YOu
Winifred.
Posted by: winifred Ayuk | Thursday, 27 April 2006 at 04:56 AM
Well i have read our Union Assembly yearly Report,
There is a really drop in our Union Revenue.
I would like to Support president view of increasing the Shares from 10000cfa to 20000cfa.
Secondly the authorities should think posibilities of extending the credit Union to other parts of the Country.
Thirdly,the Union should engage in activities that will bring Money,rather than only waiting for members Registration and borrowers.
Thanks
Mrs Tabi
Posted by: Tabi Kati | Saturday, 13 June 2020 at 07:26 PM