Board and Management team of Rainbow-Cam
By Neba Jerome Ambe
The Rainbow Cooperative Credit Union (RAINBOW CAM) has unveiled an ambitious reform agenda aimed at strengthening governance, improving compliance, and deepening financial inclusion, following a review of its 2025 performance and a forward-looking strategy for 2026.
The apex institution for Category One microfinance bodies in Cameroon reported steady growth across its network, even as it grapples with mounting regulatory and operational pressures.
Growth tempered by compliance demands
According to the 2025 activity report, RAINBOW CAM expanded its network to 50 active affiliates, up from 46 the previous year, with seven new institutions granted provisional admission. The increase reflects sustained confidence in the network despite a tightening regulatory environment.
However, audits conducted by the Ministry of Finance (MINFI) exposed key concerns, including deficits in solidarity funds, rising accumulated losses, and lapses in compliance by some affiliates.
Outstanding contributions within the network have surpassed 29.4 million FCFA, raising concerns about financial stability.
Despite these shortcomings, regulators commended the institution’s internal audit framework, describing it as a reliable pillar of oversight.
Regulatory pressure and restructuring push
In response to directives from the Central African Banking Commission (COBAC), Rainbow Cam has submitted a comprehensive restructuring plan alongside recovery strategies for individual affiliates.
The apex body has also stepped-up supervision, conducting quarterly control missions, mid-year audits, and annual reviews. A new push to establish audit committees across all affiliate institutions is expected to tighten governance and ensure adherence to regulatory standards.
The network met 13 out of 16 prudential ratios in 2025, a slight drop from the previous year. Key gaps were recorded in liquidity, risk dispersion, and the solidarity fund.
Fo Angwafo IV of Mankon: Board Chair, Rainbow-Cam
Capacity building takes centre stage
Training has emerged as a central pillar of the institution’s reform strategy. Speaking after the Annual General Meeting, Board Chair Fo Angwafo IV underscored the need for professionalism within the sector.
We want our affiliates to be more assiduous in the market and to respect prudential norms so they can be more performant, he said, adding that human capital development will be the top priority for 2026.
As part of this effort, Rainbow Cam is launching a Finance Academy in Buea to address the persistent skills gap in the microfinance sector. The academy is designed to equip graduates with practical expertise in financial management and governance.
The General Manager described 2025 as a “groundbreaking year,” noting that the institution recorded profits for the first time in years and began rebuilding provisions for past losses, estimated at about 35 million FCFA.
Leadership continuity and governance focus
The General Assembly also renewed confidence in its leadership, re-electing Christian Tanye as Vice President for a second mandate. He pledged to consolidate gains made in governance, transparency, and institutional stability.
“Our mission is to stand out as a reference apex body, not just in name but in the growth and stability of our affiliates,” he said, stressing the importance of teamwork and accountability.
Cross section of affiliates of Rainbow-Cam
Impact at affiliate level
Managers of affiliated credit unions credit the apex body for strengthening governance and operational efficiency.
Louis Neba, General Manager of Bafut Cooperative Credit Union, said Rainbow Cam’s oversight and training programmes have significantly improved board performance and institutional growth.
Similarly, Ade Divine Muma of Ntarikon Cooperative Credit Union highlighted the importance of network affiliation under COBAC regulations, noting that continuous supervision and follow-up have contributed to his institution’s rise in the regional microfinance landscape.
Persistent challenges
Despite the progress recorded, several structural issues continue to weigh on the network. These include delays in regulatory reporting, weak implementation of audit recommendations, unauthorized branch expansion, and slow adoption of digital systems.
Management warned that continued non-compliance could attract sanctions and undermine the credibility of the network.
Outlook for 2026
Looking ahead, Rainbow Cam plans to accelerate its digital transition, strengthen partnerships, and improve revenue collection across its network. Increased investment in mobile financial services is expected to expand access to underserved communities.
The institution reaffirmed its commitment to financial inclusion, aligning with regional targets led by the Bank of Central African States (BEAC), which aims to raise access to financial services from 32 percent in 2021 to 60 percent by 2029.
While expressing optimism about the future, Rainbow Cam emphasized that the success of its reform agenda will depend largely on the discipline and cooperation of its affiliates.
“Together, we must build a resilient and compliant microfinance system capable of serving our communities sustainably,” the report concluded.
