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SHESA credit union takes off, over 18 million subscription paid.
SHESA credit union takes off, over 18 million subscription paid.
The dream of making the Sacred Heart Ex-Students’ Association (SHESA) a reference has come true with the effective take-off of the SHESA Credit Union (SHESACCUL), a pet project of the association.
A Constituent General Assembly of the credit union held last Saturday, 25 January 2020, in Yaounde with the election of a Board of Directors, members of the Supervisory Board, under the scrutiny of delegates from CamCCUL, the umbrella organization for credit unions in Cameroon.
But the icing on the cake was on-the-spot payment of subscriptions to the tune of 18 million FCFA. Pledges made amounted to 118 million FCFA, representing over 236% of the share capital of the credit union fixed at 50 million FCFA.
Those who made the pledges have up to 29 February 2020 to honour at least 25 percent of them, failing which they would forfeit their founder membership, it was resolved at the Constituent Assembly which saw the election of Mishe Patrice Lumumba Mboh as President of the Board of Directors with Ndofor Gabriel as Vice-President. Other members of the 6-member Board of Directors are Mishe Anong Evaristus in his capacity as SHESA President General, Dr Fonkwo Peter, Mishe Akwa Patrick, and Mishe Ateh Francis Ngong.
The Supervisory Board, led by MisheSamuel Ndeke, has Mishe James Nangu and Senior Mishe Dr Aka Amuam as members.
The two boards were all commissioned into their functions by the President General with the mandate to look for a competent manager, a befitting office and set up the committees that facilitate the functioning of the credit union.
All of this was done under the watchful eyes of Fombon Raphael and Banouga Paul, the two CamCCUL delegates dispatched for the purpose. It was also resolved that SHESACCUL will be affiliated to CamCCUL which will also be its external auditor. CamCCUL will also help in the obtainment of a certificate of accreditation.