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Management, the Real Challenge

LUKONG Pius NYUYLIME

 
The resumption of the Agropastoral show after 22 years of hibernation appears to have ushered in a completely new spirit; that which is driven by the zeal to transform the country’s agricultural sector from its long standing rudimentary stage into modernity in order to march the exigencies of the time.

In a bid to effectively translate the Head of State’s decision at the Ebolowa Agropastoral jamboree to create an agriculture bank, authorities of the Ministry of Finance, those of Agriculture and Rural Development and of Small and Medium Sized Enterprises, Social Economy and Handicraft, spearheaded the first Constituent Assembly to lay a solid foundation for two new banks, one for agriculture; Cameroon Rural Financial Corporation (CARFIC) and the other for SME, Banque Camerounaise des PME (BC PME S.A).

The early fruits of the confab are far from being sour following the voting of an initial capital of FCFA 10 billion for each of the banks. That notwithstanding and pending the official certification by the Central African Banking Commission (COBAC), the first questions are already lingering in the minds of conscientious Cameroonians, especially those who know the history of agriculture-oriented banking system in Cameroon. The history, a really sad one indeed, leaves no one indifferent. Consequently, the Minister of Finance while talking to journalists after the Constituent Assembly underscored the need to avoid falling into the errors of the past.

It is surely regrettable that such errors came at all, but it is discretely important that such mess occurred because it is expected to serve as a lesson for the two new structures as they thrive for sustainability. The management team will certainly ensure that loans are not given out to impostors who present unrealistic agricultural projects knowing that they are of a different profession. The management team is expected to set up stop-gap measures to protect the banks from collapse thereby building and enhancing viable projects in the agriculture, livestock and fishery sectors.

Agriculture, everyone knows, is a delicate sector, especially in a nation like ours where actors strongly depend on the forces of nature such as climate, soil, and vegetation, for survival. These, of course, entail serious training and follow up. The functioning of the two banks, must as of necessity, dance to the rhythm of these forces and ensure that clients soliciting loans have the qualities expected of an agriculturalist. The new banks will only succeed if they integrate into their operational pattern the spirit of entrepreneurship and copy all positive practices that have made some private banks survive in Cameroon. Commercial Banks will only lend money for a project if they are sure of the collaterals in place. Try a housing loan in the commercial bank and see if it will be given to you without you having presented a land certificate, building permit and plan among others. Even when this has been done, a team from the bank is sent to the field to testify. These are among the measures expected of the new banks if they wish to avoid the pitfalls of the past.

 

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