Empowering farmers, young people to flourish: Nguti Subdivision Finance inaugurates pioneer office in Buea.

The first office of the credit union was inaugurated in Molyko, Buea, Fako Division of the South West Region on Thursday April 11. This was in the presence of elite, administrative and political leaders of Nguti. 

NGUSFIN is the culmination of activities by the elite and denizens of the Subdivision to give it a positive image, while empowering young people and women in the area. 

Addressing guests during the inauguration ceremony, the President of the NGUSFIN Board, Prince Mabengue Leonard Junior, said the institution was more than a local initiative as it embodies national unity transcending tribal and regional boundaries. 

“While Nguti Subdivision may be our home, our shareholders and beneficiaries hail from all corners of Cameroon, united in a shared vision of prosperity and progress,” he said. 

The baby institution, he said, was ready to accompany individuals, as well as the government of Cameroon in promoting social cohesion, peace-building and reconstruction. 

In this light, he said NGUSFIN would go beyond simply issuing loans, to building bridges of understanding and cooperation in society.

Even though the financial institution carries the name Nguti, the activities it carries out go beyond Nguti. 

In this light, Prince Mabengue urged denizens of Nguti Subdivision to seize the opportunity to benefit from all the services available.

The Branch Manager of NGUSFIN Buea, Foteck Ivo Ekisang, in his address, said despite just being inaugurated, NGUSFIN was a baby born with teeth, because of the groundwork that has taken place since the project was started. 

The variety of talents with wide experience in the sector, he said, had enabled them to develop strategies to make the institution stand out even amongst the already established ones in the sector.

Services that respond to the needs of population

Speaking to the press, the Buea Branch Manager of NGUSFIN said the institution had instituted products and services that meet the needs of all members of the communities, like farmers, civil servants, businesspersons and others.

With mobile money banking, he said, customers from across the globe in both rural and urban areas would be able to carry out transactions with their phones. This, he said, would ensure that people can save money or withdraw no matter which part of the country they find themselves.

With ‘chemical loans’, he said, the phenomenon of 10 born 10’ within the farming sector will be eliminated, thus empowering farmers by giving them sustainable loans so that they can benefit from their labour. 

“…we are introducing chemical loans where we will buy chemicals and give them to farmers so that when they have good yields and can easily repay the loans on time,” Foteck.

NGUSFIN has everything needed to grow - GM of SWAVIB

On his part, the General Manager of the South West Association of Village Barns, SWAVIB, Ashu Thomas, to which NGUSFIN is affiliated, said the institution has the required staff, services and capital to grow into one of the biggest financial institutions in the country, despite the hurdles in such a market. 

In this light, he promised the support and availability of SWAVIB to guide NGUSFIN whenever the need arises.

NGUSFIN: A beacon of hope in breaking chains of poverty

The Board President, Prince Mabengue, expressed frustration that farmers in Nguti, like most rural areas in Cameroon, have grappled with outdated practices and a lack of resources to improve yields and their income levels. 

NGUSFIN, he said, will bring hope to such farmers by giving them low-interest loans, chemical loans and other services. 

Prince Mabengue explained that the institution offers financial assistance and a comprehensive support system, designed to cultivate entrepreneurship, innovation, and sustainable growth. 

This, he said, is to unlock the immense potential of not only Nguti Subdivision but also to pave the way for a more prosperous future for generations to come.

Institution committed to excellence in a digital era

The management of NGUSFIN promised to leverage all available cutting-edge technology to streamline operations, enhance accessibility for all, and ensure the security of their client's financial assets. 

History of institution

The genesis of NGUSFIN has its roots in the leadership of Okie Johnson Ndoh and the pioneer Nguti People’s Conference that held in January 2022. 

This historic gathering ignited a collective commitment to revitalise the Nguti Subdivision Cultural and Development Association, NGUSCUDA, encompassing all 12 clans of Nguti Subdivision, from the grassroots to the forefront.

The creation of the financial institution was born out of this come-together by sons and daughters of the area, which finally saw the light of day on April 11, 2024.