Promoting financial inclusion: CCA Bank signs partnership with motorbike riders' union.

The agreement was presented to the general public and other members of the motorbike riders' union during an official ceremony, on Thursday, May 15, in Douala.

CCA Bank marketing officials said the accord will be deployed through the "Day 2 Day product", which gives professionals in the sector access to a 'motorcycle purchase loan'.

By the 'Day 2 Day' package of CCA Bank, commercial motorbike riders would be created special accounts through which they can save 2,000 FCFA daily and consistently for a period of six months and they get the possibility to be granted a loan of up to 706,000 FCFA, which will help them buy a brand new motorbike, including a one year insurance coverage.

Aside buying a new motorbike, Cedric Zogo of the marketing department of CCA Bank explained that the motorbike riders would have assistance from the bank in obtaining legal documentations to formally conform to the laws governing the sector. 

However, to become a benefactor, a person must be a member of the union, own a motorbike, have a national identification number, passport sized photographs, be a holder of the national identity card and be able to pay the initial deposit of 5,000 FCFA.

The bank's officials said they have made arrangements for subscribers in the ‘motoman savings scheme’ to easily access sales points. 

"We facilitated the deployment in the field by having kiosks all over the cities of Yaounde, Douala, and so on. This is to facilitate access to the bank by our targeted client base. It is all about getting closer to these kiosks, to do the day-to-day operations because it is by doing this daily collection that the customer constitutes the amount necessary for reimbursement,” Zogo explained 

This reimbursement period, he said, spreads over four months and could be renewable once the party fully complies. As of now, Zogo added, the first phase is to finance the obtaining of commercial motorbike documents. 

“The second will be the acquisition of motorcycles and perhaps we will go to large-scale funding with the programme that CCA Bank has designed in order to facilitate financial inclusion. It is a permanent move to encourage the development of the economy," he said.  

CCA reaffirms commitment to sustainable finance 

Commenting on development, the CCA Bank General Manager, Margaret Fonkwen Atanga, said they have reaffirmed the bank’s commitment to supporting workers in the informal economy by offering them tailored, accessible and sustainable banking solutions.

She said commercial motorbike riders play a great role in the economy, which should not be overlooked. Notwithstanding, she said the bikers often face challenges with accessing the necessary finances which can help them evolve in their activity and most often than not fall into the dragnet of law enforcement officers.

Margaret Atanga noted that it was more of a privilege for them to bail this sector out of what she termed limitations to progress. Considering that there are over two million commercial motorbike riders in Cameroon, she said structural reforms in the sector can be a boost to sustainable development.

"Most of them have motorbikes but not the necessary documentation. Most of them are held by controllers all the time and thus CCA Bank wants to help them get these papers through loans so that they won't have to be harassed in line with their jobs," she said. 

She was categorically that the approach of the bank is strictly apolitical and in no case should the Memorandum of Understanding or CAA be associated with political or religious movements.

FENASCOMOTTAC president hails CCA Bank

On his part, Hilaire Nzouankeu, President FENASCOMOTTAC, hailed the CCA management for the help given to him and his peers. 

“I wish to thank the top management of CCA Bank for helping us out of poverty. There are so many commercial motorbike riders who don't have a place to sleep, not because they have the means before they are not able to show it. So we thought that a citizen institution can support us find solutions to these and the one we have considered useful is CCA,” he said. 

“This bank in its momentum is decided to pre-finance all the commercial motorbike riders’ files, so that they reimburse 1,000 FCFA every day for three months. With this also, the government will no longer face outlaws. This is what motivated us to develop this project and present to the bank," Nzouankeu told reporters. 

He hopes the lives of his peers will ameliorate through the initiative.

"All these young people who suffer to help themselves depend on motorcycles and are self-employed. CCA wants to finance projects such as cattle rearing, agriculture, construction; these are huge project. The union has 30,000 members with 12 affiliated unions and all members of these unions constitute a database. They can all benefit from this win-win partnership," he added.

This article was first published in The Guardian Post Edition No:3452 of Thursday May 22, 2025