Sasse Old Boys Association, SOBA, representative of ex-students of the St. Joseph college Sasse have embarked on an ambitious initiative to start a cooperative credit union dubbed SOBACCUL aimed at helping members from every strata of the society.
The lofty project which is already in its advanced stage of realisation is the brainchild of the national SOBA executive. It has been greeted with an enthusiastic support from members of the Diaspora who according to the President General, Prof. Ephraim Angwafor, have described the initiative as a sure and reliable arena to invest back home while helping fellow members.
Speaking during a general assembly meeting in Limbe on Friday, August 27, Prof. Ngwafor described the initiative as a new revolution in the life of SOBA and an opportunity for members to create a lasting legacy. He called on all members to seize the opportunity and jump on the train that has already taken off.
He revealed that after the Limbe meeting, a delegation will be charged with the mobilisation and sensitization of SOBANS globally to take up shares so that the credit union which in a later date will be open to other members of the society, including other moral persons like schools, will be truly representative of SOBA. Mobilisation trips to Kumba and Buea as well as to Nigeria and the later UK were announced before a constituent general assembly billed for November 2016.
Prof. Angwafor also called on ex-students of other colleges like Sacred Heart, Okoyong, Saker Baptist etc to join SOBANS in what he described as a credible initiative with hopes of becoming a bank in the next three years.
SOBACCUL, it was revealed had already adopted its Articles of Association and opened an account with Union Bank where members and other potential shareholders were advised to pay in their FCFA 25,000 registration and shares valued at FCFA 100, 000 each.
Business magnate, Eric Njong of the Yaounde Chapter echoed the President General’s enthusiasm while expressing great satisfaction with the level of interest displayed by members, especially those in the Diaspora who are very willing to invest in an initiative that would help other members. He also called on SOBANS within the national triangle to seize the opportunity and invest in an initiative which by all indications is bound to succeed.
The Sasse Old Boys Association Cooperative Credit Union Limited has been described by its founders as a ‘Qualitative and quantitative up-stream participatory management, where every member has a right to vote and be voted to any post irrespective of socio-cultural and economic standing.”
They have encouraged everyone to join especially those with a strong desire to grow and help others grow since the objectives are to solve problems collectively which members cannot individually. It is open to teachers, students, PTA, proprietors, Alumni chapters (National and Diaspora)
SOBACCUL will offer; low-interest rate loans facilities, ordinary shareholding, savings accounts; SOBA money transfer, insurance scheme, contract financing etc.
By Elah Geoffrey