Douala: MINFI boss inaugurates 15-storey ultramodern CCA Bank head office.

Minister Motaze commissioned the eye-catching structure during a heavily attended ceremony, Saturday, October 19. 

A host of personalities, including the Minister of Labour and Social Security, Gregoire Owona and the Interim Minister of Mines, Industry and Technological Development, Prof Fuh Calistus Gentry attended the event.

Minister Motaze saluted the exploits of CCA Bank, insisting that the financial institution has always moved closer to the population.

Motaze said a few years ago when he authorised CCA upgrade from a Category B microfinance institution to a Universal Bank, he didn’t imagine the speed and level of success it had made within a short time.

"When I signed the accord in 2018, I didn't imagine it would be a fruitful journey. CCA is now 17th in the ranking of banks in the country,” the minister stated. 

The MINFI boss also underscored that the Head of State, Paul Biya, is pleased with CCA’s support to Small and Medium-sized Enterprises, SMEs, and the financial market in funding the State budget among others.

The minister hailed the President of the CCA Board of Directors, Albert Nkemla, whom he said has surrounded himself with women as managers. 

"The results produced by the three women leading this institution is a good example that should be emulated," the minister stated.

Biya knights CCA Board Chairperson

Minister Motaze later decorated the Board Chairperson of CCA Bank, Albert Nkemla Kemla, on behalf of the Head of State, President Paul Biya. He was knighted with a medal and raised to the rank of Grand Officer of the National Order Valour.

Minister reassures of gov’t’s support to private sector

The Minister of Finance also used the event to reassure stakeholders of government’s determination to continue supporting the private sector. He said the determination demonstrated by CCA Bank founders and employees is in line with that of the Head of State to boost economic growth.

With several crises, the minister said Cameroon’s “economy has suffered setbacks, but institutions have remained steadfast as they searched for new investments avenues".

He mentioned major tax reforms, an accord between the State and the Professional Association of Credit Institutions of Cameroon, APPECAM among others. To get the reforms working, the minister said the State lost over 100 million FCFA.

The MINFI boss said the private sector deserves more attention, insisting that: “We are doing more to support the growth of the private sector". He also said more talks are underway to further tax reforms.

He also said leaders of the private sector have been included in the Committee of Finance. In this light, the finance minister said he has handed to the Prime Minister a document proposing reforms to a 2013 law so as to strengthen the private sector.

CCA Bank’s inspiring trajectory

Speaking at the event, the President of the CCA Board of Directors, Albert Nkemla, said he is overwhelmed with what founding members and personnel have achieved in over 20 years.

He said the inauguration of the new head office was also a way of celebrating the humble beginnings of the financial institution. 

The Board Chair in his speech did not fail to thank their partners for constant support, especially the Head of State, for all they put in place for the development of the banking sector in the country.

About CCA Bank

Created in 1997 in Bafoussam as a microfinance institution, CCA became operational in 1998. It quickly established itself as one of the leading microfinance institutions in Cameroon.

In 2018, the microfinance received accreditation to become a bank, with a capital of approximately 15 billion FCFA. Since then, CCA Bank has worked tirelessly to position itself among market leaders.

CCA Bank has a dynamic team of 700 employees, 65% of whom are women. In 2023, 43,679 new accounts were opened in the bank. 

Margueritte Fonkwen Atanga is the General Manager of the Bank. 

Today, CCA prides itself amongst the best banks in Cameroon, with a capital of 93 billion and with more than 56 branches across the country. The bank is said to be on the verge of expanding to West, Central Africa and Europe.

About new head office

The 15-storey architectural gem was constructed on 5000M² piece of land. It was completed within 28 months. The contractor said the building was erected to match global standards.

This article was first published in The Guardian Post Edition No:3268 of Wednesday October 23, 2024