The idea for the creation of a SHESA Cooperative Credit Union was first raised by Mishe Ateh Francis in the SHESA Yaounde meeting of the 12th of February 2017 at N-Square Restaurant. A three-man commission comprising Mishes Patrice Lumumba, Asah Francis and Ateh Francis was set up to find out more information on the potential of such an investment.

Their presentation of the positive business opportunity and the various options of the Credit Union in the April meeting 2017 led to the creation of yet another committee comprised of Patrice Lumumba, Ateh Francis, Nangu James, Ngwa Francis Neva, Severin Tenku and Forbi Nchinda Simon to come up with a written document detailing all the measures to be taken for the creation of the structure, as well as the risks and opportunities the investment presents.

The findings of this committee were presented in the March 2018 meeting at the home of Justice Malegho Joseph. A resolution to inform SHESA National Exco of the plan to create the union was taken. During the SHESA AGM in Douala in 2018, the idea was tabled. A resolution was taken asking SHESA Yaounde to finalise the reflection on the venture and present it at the Annual General Assembly in Tiko, SW Region.

The Centre Coordinator of CAMCCUL, Mr Paul Banuga was invited to give a talk on the functioning of the credit union at the meeting which held at Mr Mboh Patrice Lumumba’s residence in May 2019.

In the September 2019 meeting held at Mishe Ivo Njong’s residence, Mr Patrice Lumumba presented the draft statutes of SHESACCU but insited that they could be adopted only in a Constituent General Assembly of the credit union. It was agreed after intense debate that an extra ordinary meeting to finalise the details of the project to be taken to the AGM in Tiko takes place at H.E Mbayu Felix’s residence on the 26 of October 2019. During that meeting, key issues concerning the investment like minimum take-off capital of 50 million francs CFA, minimum shares, head office etc were agreed upon and prospective members started pledging the number of shares they would subscribe for.

At the AGM in Tiko, Mr Patrice Lumumba presented the details of the project which were adopted. The Yaounde Branch was given the task of organising the constituent assembly of SHESACCU which was sponsored by SHESA National executive committee under the auspices of its President General Mr Anong Evaristuso A bank account in which potential share holders could deposit their initial shares was opened at NFC Bank and all SHESANs were encouraged to pledge and pay in a minimum of 25% of the pledged shares to enable the credit union take off.

A steering committee comprising Mishes Patrice Lumumba, Fonkwo Peter, Ateh Francis, Nangu James and Bukong Louis was set up at the December 2019 meeting at Flavours to prepare for the constituent General Assembly that was slated for the 25th of January 2020. The committee worked diligently to get the necessary authorisations and documents for the meeting that took place at Amphi 250 of the National Advanced School of Public Works in Yaounde.

During this assembly the statutes of SHESACCU were adopted, a pioneer Board of Directors comprising Patrice Lumuba (BOD President), Ateh Francis (BOD Secretary), Fonkwo Peter, Anong Evaristus, Ndofor Gabriel and Akwa Patrick Kumbong and pioneer Supervisory Board comprising Ngundam Samuel Ndeke (President), Aka Amuam and Nangu James were elected. The BOD recruited Mr Ngeondoh Julius ABUEH AGHA as its pioneer General Manager who has ably channeled the affairs of the organization till date.