Chairman of recently launched CORP-EFF is complaining that securing Capital is a major challenge for the entity
CORP-EFF, a company launched recently with one of its objectives being to provide essential services to Credit Unions and other financial Co-operatives on the island, and within the OECS, is now saying that capital remains a significant challenge for them.
Chairman of Corporate Enterprise Finance Facility Ltd (CORP-EFF), Dexter Ducreay, says while the credit unions have come onboard to invest in the facility, capital still remains a challenge for this entity which was officially launched in November 2015.
CORP-EFF, the brainchild of the Dominica Cooperative Societies Ltd, is designed to serve as the main provider of liquidity and development finance for credit unions operating locally, and later in the OECS region.
Five key areas of focus within Corp-EFF’s service mandate are: Insurance, Central Marketing, Money Service business, Debt Recovery, Purchase of Loans from Credit Unions and line of Credit Facilities.
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