By Etienne Mainimo Mengnjo
Thousands of mutualists have turned out at the Warda Sports Complex in Yaoundé as the 2024 edition of the Mutual Assistance and Solidarity initiative, (MASO) Act 4 Tombola draw is underway.
Before the draws, which are expected to take place later today, mutualists have queued up in lines to register as potential winners.
To participate in the draws, mutualists must have completed their annual contributions. Potential winners can expect to win prizes including taxis, tricycles, houses, household utensils, and many more. They are expected to refund it at zero percent interest.
Quite a number of Cameroonians have already benefited from the solidarity fund, while others are still waiting their turn. It is hoped that thousands more will also benefit from the process once the draws begin later today.
MASO: A Program Fostering Solidarity and Financial Empowerment
MASO is the brainchild of RENAPROV Finance S.A., a microfinance institution established in 1996 to support small and medium-sized enterprises (SMEs). With 28 branches across Cameroon, RENAPROV Finance S.A. is a major player in the country’s microfinance sector.
MASO was created with the goal of promoting the African spirit of solidarity, alleviating poverty and unemployment, and empowering individuals to become entrepreneurs and escape the cycle of poverty. Membership requires a weekly contribution of FCFA 500 and a yearly contribution of FCFA 26,000.
MASO membership offers a multitude of benefits, including interest-free financing, housing assistance, and life event support. These comprehensive benefits aim to improve the lives of members and their families, providing a safety net throughout life’s challenges. MASO remains a constant source of support, even in the event of death.
Financial Education and a Brighter Future
Recognizing that financial illiteracy is a significant societal issue, MASO provides opportunities for members to save money and secure their future. Anyone looking to maximize their income and maintain a modest lifestyle can potentially benefit from MASO membership.
The program encompasses various sub-groups, including: Mutual of Road Transport Professionals of Cameroon, MUPTROC, Mutual of Assistance and Solidarity of Actors of Very Small Business and Small Commerce, MUASAPEPC, Mutual of Information Communication Professionals and Animation, and MUPCIA, Mutual Assistance and Solidarity of Servants of God, MASSED.
MASO membership is open to anyone between the ages of 18 and 65. Notably, the medical and health benefits can extend to up to ten family members.
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