|AN ANALYSIS OF THE FACTORS AFFECTING THE MOTIVATION OF THE STAFF OF THE CAMEROON COOPERATIVE CREDIT UNION LEAGUE LIMITED | | |
Wikepedia, the free Encyclopedia reports that modern credit union history dates to 1852 when Franz Hermann Schulze-Delitzsch consolidated the learning from two pilot projects, one in Eilenburg and the other in Delitzsch in Germany, into what are generally recognized as the first credit unions in the world. One hundred and eleven years later, Father Anthony Jansen, a reverend gentleman from Holland formed the first credit union in Cameroon. That was in 1963 in Njinikom in the North West province. He believed like most altruistic promoters of microfinance, that poor and low-income earners can be made to benefit from a broad range of financial services including remittance facilities, if they are brought together to form credit unions or non-profit financial institutions that are owned and operated entirely by their members. And so although Cameroon’s pioneer credit union only had 16 members and a total savings of 2100 Frs. at its birth, he was not dissuaded. By 1968, 34 credit unions were already in existence. These provided mainly credit and savings facilities to their members, who were mostly poor rural farmers. Somehow, an umbrella organisation had to be created to promote and supervise viable and sustainable credit unions capable of attracting and managing indigenous financial resources. So the creation of the Cameroon Cooperative Credit Union League Limited (CamCCUL LTD.), by the coming together of the 34 credit unions existing in 1968 was to be expected. Today, CamCCUL LTD. is a network of over 191 credit unions spread across all the ten regions of Cameroon with a whopping 70% share of the country’s microfinance market. As at 31st December 2007 CamCCUL LTD. had over 229,765 members, with shares/savings above 55,869,416,232 (fifty-five billion, eight hundred and sixty nine million, four hundred and sixteen thousand, two hundred and thirty-two) francs CFA, and a net balance sheet total of 65,291,510,230 (sixty-five billion, two hundred and ninety-one million, five hundred and ten thousand, two hundred and thirty) francs CFA (CamCCUL LTD. LTD MFI NETWORK, 2007). The mission of the Cameroon Cooperative Credit Union League Limited is to develop, institute and promote an efficient gender sensitive cooperative network by providing sustainable quality products and services to her affiliates, encouraging equitable, apolitical and full participation by various stakeholders, promoting social responsibility, staff efficacy and membership commitment through education and training and maintaining close relationships with other related institutions and governments (CamCCUL LTD. MFI NETWORK, 2007). CamCCUL LTD’s successes and failures depend though not exclusively, on the calibre of its 111-strong workforce. What was and is still to a large extent the colossus of microfinance in Cameroon, continues to face old and new challenges in a sector that is becoming aggressively competitive. These include the need to recruit, train, coach and motivate her staff to meet the objectives of their jobs. As competition soars and globalisation takes on new dimensions the importance for such institutions to find ways that effectively motivate their staff to strive for outstanding results, becomes capital to their success. How can CamCCUL LTD. successfully motivate her staff? What motivates and what does not? What is motivation specifically? One could be tempted and wrongly so, to assume that a common definition can be found for this rather common management term. But there exist as many definitions for the word as there are researchers on the subject. The term motivation derives from the...