Inclusive and Sustainable Finance: Yunus SA Signs a Tripartite Partnership with Cocoa Farmers in the Lékié Division.
Yunus SA, a company specialized in financial and social inclusion in Cameroon and Africa, has signed a tripartite partnership contract with cocoa farmers in the Lékié Divisions of the Centre Region. Signed on Sunday, August 11, 2024, with the intention to commence the delivery of fungicides starting on Monday, August 12 for the farmers in this division, saw the contract materialization of the commitment recently made by Yunus SA to structure and provide financing for agricultural inputs and small equipment, through the partner vehicle "Ntambeng Cooperative Credit Union LTD" and the on-ground coordination of the "Mgbabangoise.coop-ca" cooperative.
Ndonwi Derick(L) signing on behalf of NtamCCUL
Thanks to the Cocoa Farmers Support Program in the Lékié (PAPDCL) , the farmers in this Division will benefit from better support. This is according to the a press release received by ExoFinanaces and signed by its focal point, Pius Claude Onana Adzengue
"Due to its involvement in the development of agricultural value chains to promote import substitution and especially the opportunities related to the trading of local raw materials, Yunus has built a network of strategic partners who intervene directly on the ground to address the problems encountered daily by farmers in terms of supply of all kinds.
"That's why Yunus has committed to structuring and providing financing for agricultural inputs and small equipment through their partner, the Ntembeng Cooperative Credit Union Ltd and the on-ground coordination of the MGBABANGOISE.COOP-CA cooperative," the document states.
It adds that: "Yunus will support the cocoa farmers, through its partner, Ntambeng Cooperative Credit Union Ltd, which is a first-category microfinance institution (MFI) very active in providing farmers with agricultural inputs and securing their money. In parallel, the latter will guarantee the full buyback of the productions, collect the savings and grant short-term credits granted by Yunus exclusively to its members. Ntambeng Cooperative Credit Union Limited already has more than 45,000 members spread across the 10 regions of Cameroon."
To benefit from the support and financing offered by Yunus and its partners, the cocoa farmer must meet several conditions. These include: being a member of a Cooperative approved by Yunus in the Lékié; opening a free Campost-YunusPay account; subscribing to a Campost-YunusAssuR individual accident insurance; being a member of the Ntambeng Cooperative Credit Union Ltd microfinance institution; accepting the geo-localization of his plantation; and joining the "PAPCDL".
The agreement was signed on one hand by the President of Ntambeng Cooperative Credit Union, Ndonwi Derick.
This adds to several other ongoing agricultural empowerment projects carried out with Ntambeng Cooperative Credit Union as a major partner for the emancipation of pre and post harvest losses.
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