UNICS Plc counts achievements 25 years in business.

UNICS Board Chair (middle) flanked by GM & Deputy GM during press conference in Yaounde

The management of one of Cameroon’s largest microfinance institutions, Unity Cooperative Society, UNICS Plc, has counted the institution’s achievements as it officially clocks 25 years in business.

Officials of the microfinance institution, created on January 15, 2000, have also recommitted to supporting and financing the needs of Cameroonians, especially low-income earners and micro, small and medium-sized entrepreneurs.

The achievements recorded by the institution were presented during a press conference in Yaounde Wednesday. The press conference marked the official launch of the institution’s year-long silver jubilee programme.

It was chaired by the Chairman of UNICS Plc Board of Directors, Chebienka Leslie. This was in the presence of the General Manager, Chenwi Gerald, and the Deputy General Manager, Jane Yuego. 

 

 

General Manager zooms on growth process 

Speaking during the event, the General Manager of UNICS Plc, Chenwi Gerald, said the institutions has made resounding progress in the last 25 years, growing from 20 million FCFA share capital at creation to 1.6 billion FCFA. 

He added that the institution now has 253 shareholders up from the 30 founding members at creation in 2000.

The microfinance institution, Chenwi added, has moved from one branch at creation, at the Yaounde Central Market to now 18 branches in 10 cities across six regions of the country. 

According to the General Manager, it was in recognition of these and other advances within the institution, that the Central African Banking Commission known by the French acronym, COBAC, upgraded UNICS Plc from a Category I to a Category II microfinance institution in 2017.

“With over 90,000 customers, we are one of the most patronised microfinance institutions in the country,” Chenwi stated, adding that: “These customers are our primary reason for existing. They have inspired us, trusted us and challenged us to innovate in order to meet their ever-changing demands in a sector that is getting more and more competitive every day”. 

While reassuring of their determination, vision and resilience, the UNICS Plc General Manager pointed out that progress recorded has been made possible thanks to the trust built with its staff, customers, shareholders, and especially the governing bodies of the sector notably COBAC and the Bank of Central African States, BEAC, as well as Cameroonian authorities.

 

 

 

 

Impacting customers

The UNICS Plc General Manager equally explained that during its 25 years of existence, the institution has so far deployed over 13 billion FCFA in loans, supporting the activities of thousands of customers, especially micro-entrepreneurs and farmers. 

In line with its commitment to the development of agriculture, the General Manager mentioned that UNICS Plc is working with over 20,000 farmers to help them increase their yield in collaboration with the Cocoa and Coffee Development Fund, known by its French acronym, FODECC.

With the determination of creating lasting impact in communities, Chenwi revealed that UNICS Plc has undertaken activities such as offering scholarships to deserving students in different academic institutions.  

 


Anniversary theme, logo unveiled

Asserting that the silver jubilee marks a special moment in the life of the institution, the General Manager of UNICS Plc announced that the anniversary has been placed under the theme of gratitude and service.

“Gratitude for having made it this far, for all the wonderful achievements and for our people and customers who have made all these possible,” Chenwi said.

Cueing in, the Deputy General Manager of UNICS Plc, Yuego Jane, expressed gratitude to customers, employees, partners and governing authorities, whose trust and support, she said, have enabled the institution to overcome challenges encountered on the path of their journey so far. Their support, she said, have been made evident on the anniversary logo in French and in English.

“Our simple but dynamic logo is much more than just a visual. It embodies our gratitude to our customers, who have placed their trust in us over the years. Each line, each colour, evokes our commitment to them and symbolise the strong bonds we've built up over the years,” Yuego insisted.

 

 

UNICS’ services offered

The Deputy General Manager also explained that their range of products and services have grown over the years, but always with the aim of simplifying their customers’ daily lives and improving their living conditions. 

Going by her, particular focus has been on loans at attractive rates with simplified procedures, saving and current accounts, amongst other offers. 

She said digital banking solutions have also been at the centre of UNICS Plc’s endeavours with options like UNICS Mobile, SMS Banking, Prepaid Cards, Bank2Wallet, and U-Connect.

She added that they also provide financing and business solutions for small business financing, agricultural value chain financing, investment loans for salary workers, contract financing, container clearing financing, working capital financing for SMEs, warehouse financing and consumption loans, amongst others. 

“UNICS is in a continuous improvement process. This has seen it multiply its national footprint to increase proximity to its customers. The launch of online banking solutions is facilitating remote access to products and services,” she added. 

 

 

Enter UNICS Board of Directors Chairman

The UNICS Plc Board of Directors Chairman, Chebienka Leslie, told the press that when the 30 founding members decided on the creation of UNICS Plc, their priority was to improve the lives of individuals, families and small businesses. 

He then reaffirmed their commitment to drive positive change, foster financial inclusion and create opportunities for growth and prosperity, more especially for the unbanked and underserved populations.

He equally emphasised their vision of becoming the number one financial power house for low-income earners in rural and urban areas.

“We have steadfastly stayed true to our commitment and are proud to have become a beacon of hope and financial empowerment for numerous people,” Chebienka stated.

While countless microfinance institutions have gone out of business, unable to deal with the trying socioeconomic challenges of Cameroon and the stringent demands of the finance and microfinance sector, Chebienka said UNICS Plc has showed resilience, overcoming challenges like COVID-19 and the armed conflict in the English-speaking regions. 

“Our work has earned us numerous awards and recognition from different bodies including the Department of Taxation, CNPS, independent press organs and academia for being a good corporate citizen operating in full compliance with the laws of Cameroon, being an exemplary microfinance institution and for providing development and employment opportunities for Cameroonians,” the Board Chairman reiterated.

He also mentioned UNICS Plc’s plan to further accelerate its digitalisation drive for seamless service access and usage by customers as a major priority in the coming months and years. 

“This will further provide consistency in customer experience as we grow our footprint to cover more territories and reach even more customers in the other four regions where we are not yet present, and beyond,” Chebienka added.

He then expressed the microfinance institution’s commitment to strengthening governance of the company with even more discipline and more robust controls in order to minimise certain operational risks and preserve continuity.

As part of the celebration of the anniversary, UNICS Plc has decided to offer an exceptional gift of 25,000 FCFA for the 25th visitor on the 25th day of each month, at any UNICS Plc branch throughout the country.

UNICS Board Chair, other officials, customers cutting anniversary cake

 

 

 

Customers share experiences

Customers present at the press conference made positive testimonies of their experiences with the UNICS Plc. 

“They have digital services that facilitate my transactions and limit my movements. I have been a customer of UNICS for 20 years now and I have been extremely satisfied by their services,” Pastor Boba Denis, a clergy and a businessman, told The Guadian Post

Another customer with over 15 years of experience with UNICS Plc, Njengo Christine, stated that “all what the management said here has not been different from what I have been experiencing as a customer”. 

“When I left a major bank to join UNICS, many people were laughing at me, but I wasn’t moved. Their customer services and services offered made me to stay faithful to them for the past 15 years now,” she added. 

Having received positive feedbacks from other people she has recommended to the institution, Njengo expressed her joy to witness the UNICS silver jubilee. 

 

This story was first published in The Guardian Post Edition No:3340 of Thursday January 16, 2025

 

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