KEFACCUL MICROFINANCE - Key Farmers Savings & Loans Cooperative Society (Credit Union) Ltd.
KEFACCUL Micro-finance is a financial institution (Credit Union) with head office in Kumba, South West Region - Cameroon. The institution is run by smallholder farmers with the sole aim of "Helping members help Themselves" . Members (mostly farmers) are the sole owners of the micro-finance who came together to seek the Best Ways and means for survival, since commercial banks in Cameroon do not provide loans to people with little savings and who lack collateral. The institution operates banking activities such as: Savings Accounts, Deposit Accounts, Agricultural Credit, Bank Standing Orders, Loan Accounts, Daily Cash Collection, Njangi Financing, Overdraft Facilities etc. Our main goal is to assist farmers increase food security, fight against malnutrition as well as inequality in our households and communities.
Agriculture is the backbone of the economy of Cameroon, but many smallholder farmers do not have the needed capital to carrying out farming operations in their communities. This challenges are aggravated by large commercial banks which do not lend their money to subsistence farmers with the simple reason that they have no collateral and therefore cannot pay back their loans. Lack of finances for agricultural production and productivity has resulted to most youth flying out of their village communities in search of white-collar jobs which often they cannot find.
Key Farmers Savings and loans Cooperative Society - KEFACCUL Micro-finance was established by smallholder farmers with the goal of mobilizing and educating members on savings and lending operations. Since creation in 2012, KEFACCUL Micro-finance has provided seed capital to members, assist in training members in modern agriculture, provided improved seeds to farmers, modern farm tools and equipment as well as chemicals to members and marketing of members' produce. KEFACCUL provides short, medium and long term loans to members at very low interest rate as a way of encouraging them to improving in their farming operations. Our mission is: "Investing in people".