Article 33 of the COBAC Regulation No: 01/17/CEMAC/UMAC/COBAC of 27th September 2017 stipulates that all Category One Microfinance Institutions shall operate exclusively under a network, come 1st January 2020. However, joining RECCUCAM is not automatic.

• The first step to be taken by a prospective affiliate shall be a formal request for affiliation addressed to the President of the BOD of RECCUCAM.
• Upon reception, RECCUCAM organizes feasibility studies aimed at getting:
  • Detailed information on the applicant such as name and address, registration and accreditation, membership, etc.
  • Information on corporate governance and management.
  • Financial statements and loan portfolio.
• After the feasibility studies, RECCUCAM communicates its outcomes to the applicant and possible Preliminary Admission Decision by the BOD while awaiting validation by the GA. If the feasibility studies are however not conclusive, RECCUCAM may give recommendations for improvements in the applicant’s operations.
• After admission by the BOD, the applicant is required to complete affiliation formalities such as the payment of Entrance/Registration Fees, Subscription for and Payment of Shares.
• Dues are calculated following a formula adopted by the General Assembly. A RECCUCAM Staff will be assigned to the new affiliate for inspection, supervision and control.
• Finally, the formal affiliation will be ratified at the RECCUCAM Annual General Meeting.