Ntarinkon Credit Union GM wins Best Microfinance General Manager award.

The award, dubbed 2022 Lifetime Microfinance Icon award, was accorded to Ade Devine Muma for spearheading landmark reforms that have greatly transformed NtaCCUL into the most capped microfinance institution in Cameroon and the CEMAC Subregion. 

The distinction was conferred on the NtaCCUL General Manager Saturday April 29, during the second edition of The Herald Tribune 2022 Excellence Award ceremony in Bamenda. 

The NtaCCUL General Manager’s award, accompanied by a trophy, was received on his behalf by the Assistant General Manager of NtaCCUL, Takhuli Maurice.

Speaking after receiving Ade Devine Muma’s award, Takhuli Maurice, disclosed that the award will boost the activities of NtaCCUL and encourage them to work harder.

He added that their wish is to completely go digital by inter-connecting all branches, especially as most youth are acquainted with technological gadgets nowadays.

It should be noted that Ade Devine Muma’s astute and dynamic management of NtaCCUL has seen it engaging several innovations that have put the microfinance institution as the cream of the crowd in the microfinance sector in Cameroon. 

Within the period of Ade Muma’s tenure as General Manager, NtaCCUL’s membership has grown to over 82,000 and deposits of over 60 billion FCFA. It is now located in five Regions of Cameroon. With its head office in Ntarinkon, Bamenda, there is a branch in Ntarinkon, Food Market, Bamenda; Nkwen and Up Station, Bamenda. 

In Yaounde there are branches in Melen, Ekounou, Nlonkak and Mendong. In Douala there are branches in Bonaberi, Douche and Cite de Palmier and Ndobo cash office. Buea has a branch in Mile 17 Roundabout. 

Championing NtaCCUL’s digitalisation drive

Ade Muma has also championed NtaCCUL’s laudable digitalisation drive.  

It should be noted that in 2021 NtaCCUL undertook digitalisation and included electronic banking into its system. Through the electronic banking, NtaCCUL is able to connect its banking to the CEMAC Network. 

It has the opening to having ATM cards. With these cards, members have the leeway to connect directly to their accounts. This facilitates the usage of the ATM cards in the entire CEMAC zone.

With the successful digitalisation, NtaCCUL members are now able to carry out transaction by ATM and prepaid Visa cards, Western Union, World Remit, RIA, MTN and Orange mobile money transactions. 

Still under Ade Muma’s leadership, NtaCCUL is also engaging in another project, which is to give loans to farmers in order to revamp the agricultural sector.

Swelling NtaCCUL’s membership with increase in interest rate

It should also be noted that NtaCCUL’s decision to increase interest rates on savings from 3% to 6% took place under the management of Ade Muma. This has caused NtaCCUL’s membership to swell. 

Following its annual and audited accounts for the year 2020, it emerged that membership in the microfinance institution rose from 58,253 in 2019 to 65,914 in 2020. In 2020 alone, the credit union registered 7,661 new members.

NtaCCUL, under the management of Ade Muma, has not only witnessed an increase in membership in 2022, but also saw its financial performance skyrocket.

The microfinance institution has not only witnessed a rise in membership but also a sharp increase in interest rate. Its customer-friendly services were also instituted and efforts carried out in other domains.

Ade Divine Muma, the man 

Ade Muma is no mean personality when it comes to intelligence and academics. He holds a B.Sc. in Banking and Finance from the University of Buea; Higher Diploma in Business Administration from the reputable London School of Commerce and Master of Business Administration, MBA, in Finance from the University of Wales Institute, London.

Given his unique sense of putting global economic and financial principles to attain lip-smacking results, Ade Muma has also dispensed knowledge in most higher institutions of learning. From the University of Bamenda, UBa to the Higher Institute of Commerce and Management, he has remained a unique resource person.

The time-tested passion of the cutting-edge leader and administrator in finance and business, has a trajectory not unconnected to his excellence in whatever he does.

Ade Muma, who does not take no for an answer when it comes to his job, rose to where he is today, through competence and hard work. Many of those who know him closely, say he has remained serviceable to stakeholders in a way that is so unique.

The former credit analyst of the Cameroon Cooperative Credit Union League, CamCCUL, is reputed nationwide and beyond for his financial probity. At CamCCUL, Ade Muma was the backbone of most Credit Union Managers and League Board when he served there. 

Ade Muma, it is being said, is a god when it comes to loans, credits, and recoveries. At a time when most financial institutions are yoked in high loan delinquency, Ade Muma has remained ahead in addressing this threat to the survival of microfinance institutions by coming up with flexible measures that have remained promising, despite hurdles such as the situation in the English-speaking regions.

In 22 years within the leadership rank of NtaCCUL, Ade Muma, it is said, has remained a unique growth catalyst. He served as head of the Lending Department of NtaCCUL between 2002 and 2010. His exploits at this level earned him promotion in July 2011 to the post of head of Finance Control and Supervision Department of NtaCCUL. He held that position till February 2013 when he was named General Manager of NtaCCUL.