MUFFA was created for the purpose of providing the underprivileged or informal sector African women with appropriate financial products and services to help them meet their individual and family needs.
Objectives
MUFFA Cameroon has three objectives, namely:
- Raising the awareness of low-income women on the necessity to build their organizational, managerial and development capacities with a view to finding appropriate solutions to the multifarious socio-economic challenges they face.
- Setting up a conducive environment to the incubation, emergence and development of women micro-enterpreneurs for their self advancement, that of their families and humanity as a whole;
- Organize and channel the economic potential of low-income women, making it a weapon to combat poverty.
Membership is open to :
- Women from all social categories;
- Women Associations and NGOs;
- Enterprises of all sizes owned by women.
Admission requirement :
- pay a membership fee of CFA 2000 francs;
- pay up 10 shares, representing CFA 10 000 francs;
- sign the MUFFA golden book.
Financial services offered :
1)Cash and counter transactions.
- Opening of accounts
- Cash deposit
- Cash withdrawal
- Flash Cash operations
- Loan applications
2) Processing of loan applications.
Generally speaking, the financial resources of MUFFA are made up of contributions from members and financial backers.
3)Funding income-generating activities,
Using micro-loans and multifarous support mechanisms. This activity has helped to create or maintain hundreds of direct jobs in favour of low-income women.
Beyond the savings and lending activities, MUFFA also provides additional services, thanks to a partnership with the First Bank:
These are:
- Money transfer facilities to sending and receiving funds in Cameroon and worldwhile;
- Acceptance of checks and commercial papers;
- Specific banking products like the Flash Cash for securing your funds, and the Associated Deposit Account - ADA – to ease transactions.
