By Etienne Mainimo Mengnjo
Crédit Mutuel d’Investissement du Cameroun, abbreviated as CREMIN-CAM, has launched a real estate project that is geared towards helping members acquire titled lands.
The project baptised, “One Member, One Plot” was launched in Yaounde on July 6 in the presence of partners and members of the financial institution.
Speaking during the launching ceremony, the Director General of CREMIN-CAM, Ruben Ntap, described the project as a great achievement, considering that Cameroonians and members usually have serious problems acquiring titled lands.
“We noticed that acquiring land is becoming delicate and so many people are being duped. We thought it wise to develop a project to satisfy our members. If they pass through us, they will be very sure of having their legalised land,” Ruben Ntap said.
According to the DG, the institution has acquired land in Yaounde and Douala and is ready to accompany members to fulfil dreams of buying a land and building a house.
To Valentine Okale Dang, Deputy Director General, after expressing the desire to buy land, members can pay cash and “we sign the sales convention”.
He noted: “At this juncture, there are two options, either continue with the operation in obtaining a land title or confine it to CREMIN-CAM. Secondly, we can give you a loan facility, when you pay the loan, we can hand over the land title. Thirdly, you can pay part and we give you a loan to pay for the land.”
A member who spoked to The Post appreciated the project indicating that, “This is a great move towards the right direction. We have suffered a lot when it comes to buying of lands here in urban cities and I think that the coming of this initiative is a welcomed idea and I will use it to the fullest.”
The Director General of SCI Global, Marcel Nyetam, said they have decided to partner with CREMIN-CAM because the vision that the institution has for its members and Cameroonians aligns to theirs.
With hopes of expanding to other regions, authorities from the financial situation stated that the project is only available in Yaounde and Douala with land already set for use.
In Douala, some 20 hectares of land is available in Ekoko, and 200 meters along the Yaounde-Mbalmayo axis. Still in Douala, some 30 hectares of land have been acquired around Japoma stadium, some 800 meters from the American Hotel Complex under construction and 200 meters from the planned highway.
Some 20 hectares have also been acquired in Bassa Log Bessou and some 10 hectares have also been made available at Bwappe, behind the Bonaberi Industrial zone.
CREMIN-CAM is a Savings and Credit Cooperative institution created under the Mutual Treasury Staff Association, DGTFMC. CREMIN-CAM is a first category microfinance institution with a capital of FCFA 90 billion according to the Decree N°0000000074/MINFI of 08 January 2009. The financial institution is located in Yaounde, Douala, Nkonsamba, Garoua and Maroua.