Buea, Cameroon – June 26, 2024
Today marked the inaugural meeting of the General Assembly of Regina Pacis Microfinance. The event, held at the Bishop Pius Awa Memorial Pastoral Centre, began at 10 AM local time and saw a significant gathering of all parish priests, heads of Diocesan services, and other invited guests.
In his opening remarks, the Bishop of the Diocese of Buea and the visionary behind REPAFIN, His Lordship Michael Bibi, urged members to contribute honestly and collaboratively to build a robust organization that serves the population effectively.
Bishop Bibi provided a brief yet comprehensive presentation on the organizational structure of REPAFIN. He explained that REPAFIN is a Category 2 microfinance institution, duly approved by the Cameroon Ministry of Finance. His presentation also covered the distribution of shares among diocesan services, institutions, and individuals, along with the rules governing shareholders and the distribution of dividends.
General Assembly
He emphasized that REPAFIN was established with the primary goal of assisting Diocesan workers and Cameroonians in general, by offering loans at interest rates significantly lower than those of other financial institutions.
The meeting also featured an interactive session where members present shared their feedback, raising concerns about the organizational structure, ownership of shares, and other pertinent issues. The Bishop, along with finance experts, addressed these concerns and made necessary corrections.
Key shareholders of REPAFIN PLC include all parishes within the Diocese of Buea, the Catholic University Institute of Buea (CUIB), Mount Mary Hospital, and Regina Pacis Hospital.
Also present during the meeting were legal minds who ensured deliberations were carried out within the confines of the law and texts
