CHAPTER ONE

INTRODUCTON

1.1 INTRODUCTION

1.1.1BACKGROUND OF INTERNSHIP

An internship is a period when students or trainees demonstrate

practical work to theoretical. Thus, this exercise gives an opportunity for one to become
experienced or have experience as a worker and to be skillful in their specialty of
profession. Some students will have a part time internship, where they work at offices just
for a few hours or days a week. Others will have full time internship meaning they will
work the same as the companys full-time employees. Internship placements can be any
time of the year including over the summer and during regular school semester.

My internship placement was granted at Nkong Credit For Development

Savings And Loans Cooperative Society (NC4D) LTD-MF, P.O. Box 340 SWR
Cameroon, precisely at one of its branches in the Littoral region Bonaberi-Douala. This
placement ran from the 20th of July to the 20th of August 2016 (5 weeks) where I gained a
lot of experience that went a long way to complete my studies as a management student.

1.1.2 ARRIVAL AT NC4D

I arrived NC4D on the first day at 8:00am, meeting other interns ready
for internship in the same establishment. We were all directed to the branch managers
office, where she welcomed everybody present at that time and asked that we should feel
free in our new environment. She further explained to us that the first quality we should
maintain is discipline; that is being at the right place at the right time and doing the right
thing.

An introduction of all interns was carried out to the staffs of the office
that were ready to work with us. The next day, a schedule was drawn out on how the
various activities would be followed and carried out as the internship period goes on.

1.2 AIMS AND OBJECTIVES OF THE STUDY

 The objectives and aims of the internship period are:
To enable the intern blend theory to practical activities in the field of study.
To help the intern fulfill the B.Sc requirement.
To learn more ethics and morals of the work environment.
To help the intern develop entrepreneurial skills which will be directly
applicable in the management career?
To achieve valuable experiences that would be needed to maintain the job.

1.3 OPERATIONAL DEFINITION OF TERMS

NC4D- Nkong Credit For Development
NWOCA- Nkong Women Catch Up( a group of at most 5 women
who have an account at NC4D)
Intern- An intern is a student or anyone who has been granted
an opportunity by an employer to work in his company or organization for
a particular period of time
B.Sc- Bachelor of Science(a degree obtained after studying a
particular program in the university)
LTD-MF- Limited-micro-finance
SWR- South West Region
N-cash- Nkong cash
NIC- National Identity Card
BOD- Board of directors

CHAPTER TWO
 PRESENTATION OF THE ORGANISATION

2.1 HISTORICAL BACKGROUND OF THE ORGANISATION

NC4D is a micro-finance company which came from a project of a

common initiative group formed in 1996 (Nkong Hill Top) by some few
members with the aim to promote access to micro-finance services for its
customers and the community at large and especially the urban and rural poor
women.
Its doors are now open in Buea, Fontem, Muyuka, Muyenge, Kumba,
Douala and Bomaka to serve all persons at good will as a category one micro-
finance institution with authorization by the ministry of finance.
Its membership is for everyone within the scope of the Uniform Act on
the Right of Cooperative Societies (OHADA) and the Banking Commission
for Central African States (COBAC) regulations respectively. Its members can
be individuals, groups/NGOs/CIGs meetings and cultural associations.
Since its creation it has been able to promote access to micro-finance
services through the following products it offers:
Savings account
Deposit account
Loans
Group accounts
Minor accounts
Mobile savings
NWOCA
Money transfer
Salary accounts and
Business solution/consultancy

2.1 AIMS AND OBJECTIVES OF THE ORGANISATION

NC4D has its aims and objectives to provide the community with micro-
financial services with transparency, equality, accountability and above all with honesty. It
 has always worked with the vision of being the number one rural and urban provider of
micro-financial services at the grass-roots women and youths of the Sub Saharan Africa

2.3 ORGANISATIONAL STRUCTURE

FBICDSEG u
i.norde v
nOvmreu i l
a.emlc a
nDsecar tc
ctreia o
eocnl o
rimCA
samo i
ltms e
em
im t
tb e
el
y

CHAPTER THREE

ACTIVITIES CARRIED OUT BY THE INTERN

3.1 ACTIVITIES CARRIED OUT BY THE STUDENT

COUNTER

The counter deals with the following activities:

Money transfer
Money transfer payment
Opening of current account
Deposits into current account
Payment of salaries
Offer of loans

I as an intern saw the various activities carried out, for example; money transfer issue

(a) Method of work

The customer fills the form for the issue of money to be transferred by indicating on the
form the following;

Name of recipient
Name of sender and contact number
Amount to be transferred
Destination of the recipient and contact number

A small machine called the electronic payment terminal which is in the form of a small
computer is used by pressing the different characters to issue the transfer which will
produce a receipt having a reference number and the code number including the amount,
name and address. This information is sent by the customer through a message or a phone
call to the beneficiary for payment.

(b) Money transfer payment

Payment is done on presentation of the reference and code numbers and presentation of
NIC of the customer.

Work Method
 The customer fills in the form indicating the reference and code numbers and NIC
number
Names of beneficiary and contact
Names of sender and contact
Amount to be paid and signature of recipient

It is ensured that the information is correct before being passed to the machine. A payment
receipt is produced with all the corresponding information, only then the customer is
given the corresponding amount.

During the internship period, we carr9ed out activities such as;

i. Opening of a current account

At NC4D there are two main types of accounts, the individual and the group account.
With the individual account, there are various requirements such as;

3 passport size photographs

Photocopy of NIC
Registration fee of 2000frs
Booklet charge of 2000frs and
A particular share type, that is share A or B for 14000frs and 1400frs respectively

Concerning requirement for groups, NGOs, CIGs and meetings;

Registration fees of 4000frs

Share type A or B of 14000frs and 1400frs respectively
Letter of application
Copy of certificate of registration
Copy of constitution/Article of association
Minutes of board executive meeting designating signatures and their powers

The forms are filled by the customer who gives his/her information demanded on the
form. The account is created in the computer; picture and signature scanned producing an
account number and attestation which is presented to the customer.

ii. Deposits into current accounts

Deposits are made into current accounts by paying into the account directly fiscal cash.
The account is then credited by the amount in the computer and a receipt produced and
given to the customer.

iii. Loan offer

NC4D grants loans to its customers for the following activities;

Execution of contracts
Business
Agricultural loans
Building loans
Education
Providence
Nkong women cash up(NWOCA)

It offers loans to both individuals and groups on the following conditions;

a) In the case of an individual, he/she requires one third of current savings in the
account including a legal guarantee.
b) In the absence of a guarantee, then up to half of the current savings is required
c) Also on an interest rate of 2%with an exception to a particular group that
receives only 1.5% as interest

Method of work

The individual fills in the necessary information on the loan charged at 2000frs
indicating the name, date of birth, date of event(when the loan was being applied
for), amount of loan in words and in figures, duration of repayment and the number
of installments, signature and photocopy of NIC attached to it and sent to the
manager. When the application is approved, the customer is given the amount and
living behind the legal guarantee.
iv. Updating accounts

When updating the group accounts, considering that each group has a ledger card
that contains columns for current deposits, current savings, compulsory savings and
the amount of interest on their loans; when any amount is brought in, they give the
purpose of the amount and it will be filled in the respective allocations. It is well
 noted that group accounts of NC4D are usually updated by the general manager or
branch manager.

Also, updating individual accounts we fill in their respective amounts to the

respective columns in their ledger cards.

v. Updating the main cash book

The main cash book contains the various transactions carried out by the company
during a particular month both its credited and debited transactions. The cash book
is updated from the receipts made after each transaction for the day. It keeps in
record what the company takes in as current savings, deposits and interest on loans
or what it gives out as loans and withdrawals from current savings accounts.
vi. Updating group pass books

The company gives out small booklets to its customers called pass books where
they record their daily transactions in. The group pass book is updated different
from their ledger cards in that; in their ledger cards only their unpaid interest are
added up as their unpaid balances while in their pass books the unpaid interest is
added up with unpaid balance of the loan to give their unpaid balance for the
month.

vii. Calculating interest on loans

Interest on loans is necessary to commercial companies like NC4D in that it helps
to boast up their incomes thereby increasing profits of the company. The specified
rate of interest in NC4D is 2% excluding a particular group (NWOCA) which has
1.5% interest rates.

Method of calculation:
For example on a loan of 400,000 FRS the interest will be calculated as follows,
taking into consideration that it was granted to an individual; Taking the following
Compulsory loan form=2000frs
Compulsory sinking fund=500frs
Processing fee of 2% of the given amount
VAT of 19.25%

Solution;
 Loan=400,000
Processing fee=2%
Therefore 400,000 x2%=800frs

CHAPTER FOUR
EVALUTION OF THE INTERNSHIP

4.1 Strengths of the organization

By strengths we mean those aspects of the organization that allows the customers
and employees to feel satisfied when transacting with the organization.NC4D has the
following aspects to which it can hold on to in terms of strengths;

1) Team work: It is a good tool used by organizations to achieve its goal or

objectives. All the workers are committed to their various task assigned to them and
at some times carry out activities not directly assigned to them. This increases the
speed to which customers are been attended to and hence a need to carry out as
many transactions with the organization as possible.
2) Training: Training in any organization increases the skills of the employees and
hence a boost in the individuals potential which will also lead to an increase in the
individuals productivity in the organization.
NC4D offers training to its employees so as to improve their skills and
knowledge about the organization, for example it had to send out some of its
members to study the utilization of their newly found soft ware. This singular
act made the organization very proud as a whole because the soft ware has
brought easier ways of transacting with customers.
3) Working condition: The working condition in an organization will influence its
productivity largely because in an unfavorable working condition, employees will
not give out their best performances and this will affect the out puts negatively,
whereas, in a favorable condition of work, employees feel at ease to work and will
definitely perform well.
This is the case with NC4D where employees and customers feel very
comfortable at the presence of the manager and as a result produce their best.
4)