DEC NGO MFI only work among women resident in the rural areas around Enugu, Abakiliki and Nsukka areas, since July 2007 when the Enugu Urban clients numbering about 5000 clients joined DEC Enugu Micro finance Bank Limited as their clients.
This action really affected the operational status of DEC NGO Micro finance Institution, hence reducing both the number of our clients as well as loosing some of our experienced staff to the bank.
However, with the progress seen in the activities of the DEC Enugu Micro finance Bank Limited in the past one year, DEC is well-off with her decision of investing in the Bank as the major shareholder of the bank. DEC-NGO got a substantive amount of dividend and bonus shares when the bank declared her profit for the year in 2007 and paid their customers accordingly.
Our gain today is that we have DEC-NGO MFI still operating in more than 200 communities in Enugu and Ebonyi states with about 6000 clients.
On the side of the DEC microfinance Bank, there is need for investors’ funds, so that t5he Bank can increase the loan amount they give to their medium level entrepreneurs or they will loose their quality clients to other commercial Banks who has much funds for their customers.
CLICK AT THE EXECUTIVE DIRECTOR'S REPORT, DECEMBER 2008 ANNUAL CONVENTION.

PROBLEMS ENCOUNTERED.
The major problem encountered within the period was high rate of default arising from poor verification of the clients by the credit officers due to lack of commitment on the side of some staff. As a result of this lack of commitment, many of the clients take multiple loans and found it difficult to repay after few weeks. The consequence of this; is that the group savings is adjusted and used to clear the outstanding loan and interest, then leading to the exit of such members. This was responsible for the high rate of drop-out being experience in a branch. There is hope that with the recruitment of Branch Managers to strictly monitor the activities of the credit officers in these branches, there will be great improvement, as the Branch Managers will ensure that the credit officers do the right thing by monitoring clients effectively and follow up with repayment of loans.
One Branch Manager recently defrauded DEC by using fictitious names and conniving with the group leaders to defraud. He ran away but the organization has taken the ex-Branch Manager’s guarantor to court, because after he was bailed by his relatives from police custody, the ex- branch Manager is still on the run. Another major problem being faced by the programme is too much competition in this field as at recent by all sorts of Micro finance programmes, with the emergence of Micro finance Banks and many other Government sponsored Micro finance programmes. This situation has affected us in that, the few staff we trained has been poached by this agencies, who pay better salaries than what they get in DEC Enugu.
The high cost of things coupled with the global economic crisis has made it difficult for us to retain our quality staff with what we have in our budget as NGO.

FUTURE PLANS

1. Our plan is to intensify in the gradual expansion of DEC MFI’ programmes through recruiting quality clients and retaining them.
2. Recruiting experienced staff and raising the salary of our committed staff to enable them perform better and work in our organization.
3. To review our interest rate downwards.

 

GRASSROOT WOMEN ARISE!!!