Sensitisation and Education Campaign to Communities and potencial beneficiares of the Microcredit Scheme
In partnership with the livestock and fisheries Development project North West Region (LIFIDEP) the Bamenda III Council carried out an educative and sensitization campaign aimed at providing financial assistance to farmers involved in livestock and fisheries. With an objective to contribute to increase rural income and living standard through increase productivity and production, LIFIDEP has launched microcredit loan scheme to enable livestock farmers to improve on their productivity. This assistance will be timely and highly competitive thus promote and develop long term sustainable entrepreneurial activities in the fields of fisheries, cattle rearing, poultry and piggery. The following steps are involve in qualifying for a loan
· For small scale and resource limited farmers, the client must have receive training and capacity building from LIFIDEP, and should equally operate an account with the selected Microfinance Institution,
· For medium and large farmers, clients must have been in business for at least 6 months, operate at a profit and have some inventory in stock and should equally operate an account with the selected MFI.( which is United savings and Agricultural Credit limited (USA-Credit Union Ltd) Bamenda and , Nsanimunwi Cooperative Credit Union Bafut)
· Have a clear simple business plan
· The president of the cooperative or the quarter head must be a “moral guarantor” for each client, vouching for his or her business acumen, character, integrity and commitment to honoring the terms of the contact.
· Age of beneficiaries range from 18 years to 75 years.