Abstract

The banking sector alongside micro financial institutions play a very important role in the society without which most individuals, co-operations and companies will not be able to properly function without these financial institutions due to their very important roles they play in the society ,principally that of accepting deposits and loan granting to both the private and the public sector of the economy.

Thus , as a final year student in the department of Banking and Finance in the University of Buea in partial fulfillment of the requirements of an  award of a professional masters degree program (MBA) ,and the objectives being of better understanding the theory I learned in school by being involved practically,  better developing my banking skills to enable me adopt to the professional nature of the banking and financial field, I thus carried out an internship in a category two  micro financial  institution in Limbe-La Regionale d’Epargne et de Credit .

In this piece of work, generally, in the various chapters, Chapter one will be talking about the background information on internships generally-what an internship is all about and the criteria for it to be termed an internship. Then I will be examining the objectives of the internship , the methodology in which I will be using primary and secondary data ,with both qualitative and quantitative data measures equally used.

Chapter two will be describing the company generally ( a service industry),the brief description about such industries and the address, the company history and links (parent companies or subsidiaries), then the organization of the company where in I will be considering the number of employees, size or volume of the company ,control (both external and internal) and monitory mechanism. Then I will equally be looking at the organizational structure of the micro financial institution( The Organigram).The nature of company activities, (products, services etcetera is also examined in this chapter and other social bonuses (benefits)made available to their customers. Lastly here, I will be talking briefly on my internship department including the name and position of my company supervisor.

In chapter three, it will entail the description of the internship which will consist primarily of the activities performed during the internship ,with respect to the various departments (customers’ service, accounting department the cash desk, not forgetting the role of the branch manager and his functions as well. This chapter will equally be talking on the problems encountered during the internship (social, or technical in handling jobs)not forgetting the strong positive values and aspects of the organization as a whole what I did experience while there.

Chapter four now brings out the various experiences gained during the internship and how It influenced my behavior while there and also how it will equally influence my future carrier plans

Lastly, chapter five brings out the conclusion and the recommendations for both the organization and the intern-myself. The SWOT (strengths, weaknesses, opportunities and threats) analysis of the organization is snot equally left out in this piece of work.

 CHAPTER ONE

INTRODUCTION

1.1 Background Information On Internship In General

Definition

An internship is an opportunity offered by an employer to potential employees, called interns, to work at a firm for a fixed, limited period of time. An internship report is a summary of your internship, which is to be neat, well organized and focused, and above all very professional. It is the writing show piece of the internship. Every student is required to write an internship report upon completion of their internship. It is equally a written account of an internship carried out.

An internship report is thus the conclusion of the internship that summarizes all the personal, firm related experiences that help the person reading the report in understanding and knowing completely about the internee’s achievements.

What is an internship?

“An internship is a form of experimental learning that integrates knowledge and theory learned in the classroom with practical application and skill development in a professional setting.”(Council for the Advancement of standards in Higher Education (CAS), Professional Standards, 6th Edition)

Internship opportunities can be in the fields of accountancy, Economics, Entrepreneurship, Finance, Management Information systems, marketing amongst others. Internships may be associated with an academic department,(for-credit), or done independently (not-for-credit).Internships are either part-time or full-time and a typically paid.

A.)       For-Credit internships: When students earn academic credit towards their academic degree while interning. Have specific eligibility requirements and procedures.

B.)       Not-For-Credit Internships: These are internships which are done by the students independently.

Criteria for an experience to be defined as an internship.

According to the National Association of Colleges and Employers (NACE), some criteria are put forward for an experience to be defined as an internship. To ensure that an experience –whether it is a traditional  internship or one conducted remotely or virtually-is educational, and thus eligible to be considered a legitimate internship by the NACE definition, all the following criteria must be met:

1.The experience must be an extension of the classroom: A learning experience that provides for applying the knowledge gained in the classroom. It must not be simply to advance the operations of the employer or be the work that a regular employee would routinely perform.

2.The skills or knowledge learned must be transferable to other employment settings.

3.The experience has a defined beginning and an end , and a job description with desired qualifications.

4.There are clearly defined learning objectives /goals related to the professional goals of the student’s academic coursework.

5.There is supervision by a professional with expertise and educational and/or professional background in the field of the experience.

6.There is routine feedback by the experienced supervisor.

7.There are resources, equipment and facilities provided by the host employer that support learning objectives/goals.

If these criteria are followed, it is the opinion of NACE that the experience can be considered a legitimate internship.

1.2 Objectives Of The Internship

Considering the objectives of the internship, I will equally be providing answers to the following question-Why should I have an internship?

There are many reasons that encourage one to participate in an internship during studies, some of which include:

• Develop crucial professional skill set including presentation, communication, networking and interpersonal skills. And experience in a particular field.
• Gain a clearer perspective and understanding of career goals and objectives
• Earn money to cover a significant portion of college expenses.
• Position myself to have a strategic advantage over other graduates by already having professional experience in my field.
• Students who have participated in an internship program are, traditionally more likely to be hired upon graduation, receive higher starting salaries and receive promotions more quickly.
• The National Association of Colleges and Employers survey of job and recruiters show that the top selection method is now internships, beating out on-campus recruiting.

Note should be taken that employers also benefit from these placements because they often recruit employees from their best interns, who have known capabilities, thus saving money and time in the long run.

How long is an Internship?

Internship assignments last between 12 to 16 weeks on average. However, students may continue to work their internship past the length of a semester as long as the student and internship company are mutually agreeable.

Can I work an unpaid internship?

In compliance with the U.S department of Labor’s Fair Labor Standards (FLSA), interns must be paid for their work at a “for –profit” company. However, students may work an unpaid internship at a non-profit company or exempt government policy.

1.3 Methodology Of The Internship

In the course of the internship, I used quite a number of methods to collect and present my data .Mainly, I used the two types of data for this purpose-Primary data and Secondary data.

A.Primary Data:

The report has been prepared through extensive use of primary data. It was collected from groups of people who are related to the organization in which I carried out my internship activity(La Regionale).This therefore involves both the staff and the Customers of the organization. The following methods were used in collecting primary data which include:

Direct interviewing: I collected data from the branch manager, executive officers and the Clients of the Organization, with well designed questionnaires in some instances.

Personal communication: I gathered data through personal communication with the workers , executives  manager and clients of the branch.

Observation Method: I went to every department of the organization and observed keenly how they went about with their various activities as well as I was involved in some of the activities.

1. Secondary Data:

The secondary sources here are those which are published or processed material. I thus collected secondary data from the following sources:

• The various types of official documents
• Some published research report, books ,their journals and organizational articles
• Loans and advance manuals
• The budgetary report of the organization
• File study , some books on Banking Theory and Practice
• Different books of service Marketing

Note should be taken however that concerning the types of data collected, I equally got both Quantitative and Qualitative data from this organization.

Quantitative data here are measures of values, expressed as numbers. Examples of such data I got in this case includes information from the financial statements- the balance sheet ,the Income Statement, and the Budgetary documents , looking at their total incomes and expenditures of some years, their profits made as well as the losses they incurred in some years.

Qualitative data here are measures of “types” which may be represented by a name. It is data about categorical variables. Thus, the qualitative data gotten here was the various functions (departments) of the organization like the customers’ service department, the accounting department and the cash desk department. The types of customers they work with is equally a qualitative data, some of which are: Individuals, partnerships, Civil servants (teachers, pensioners amongst others).

CHAPTER TWO

DESCRIPTION OF THE COMPANY/INSTITUTION

2.1 Brief Description Of The Company, Industry/Sector And Adress

La Regionale d’Epargne et de Credit, is a micro financial institution and is where I carried out my internship activity. Before proceeding to the description of the company proper, I will first of all give a brief explanation on service industries and Microfinances generally before going to the Organization proper.

What are service industries?

The service industries more formally termed “tertiary sector of industry” by economists) involves the provision of services to businesses as well as final consumers. Such services include accounting, tradesman ship (like mechanic or plumber services), computer services, restaurants tourism and banking services.

Hence a service industry is one where no goods are produced whereas primary industries are those that extract minerals, oils  etcetera from the ground and secondary industries are those that manufacture products, including builders.

Service industries can equally be defined as an industry made up of companies that primarily earn revenue through providing intangible products and services to its customers. Service industries are involved in retail, transport, distribution, food services as well as other service-dominated businesses. Also called Service sector or tertiary sector of industry.

What are Microfinances?

According to the Wikipedia, Micro Finances initially had a limited definition-The provision of micro loans to poor entrepreneurs and small businesses lacking access to banking and related services. Over time, micro finance has emerged as a large movement whose object is” a world in which as everyone especially the poor and socially marginalized people and households have access to a wide range of affordable , high quality financial products and services , including not just credit but also savings, insurance, payment services and fund transfers. Many of those who promote microfinance generally believe that such access will help poor people out of poverty.

In other words, microfinance is also called Micro Credit and is a type of banking service that is provided to unemployed or low income individuals or groups of individuals who otherwise have no other access to financial services. Institutions participating in the area of micro finance are most often associated with lending and other additional services, including bank accounts and micro-insurance products , and provide financial and business education. The ultimate goal of micro finance is to give impoverished people an opportunity to become self-sufficient.

Categories of Micro Financial Institutions(MFIs)

The Categories of microfinances do exist which are:

1.Category 1 microfinances which are Co-operatives and they deal with members only and they do not receive funds from customers .They only collect savings and do grant out loans only to their members for instance BAPCCUL( Bamenda Police Co-operative Credit Union Limited), AZICCUL(Azire Co-operative Credit Union Limited)  amongst others.

2.Category 2 Microfinances which are microfinances that do collect savings and also grant loans to customers. They do deal with individual customers as well as partners. They thus do grant loans to third parties(customers).La regionale ,my organization of internship falls in this category 2 of micro finances. Another example is CCC(Credit Communautaire du Cameroun)

3.Category 3 microfinances which are Finance houses for real. They use their Capital on their customers .They do not receive deposits from customers but rather grant loans to the general public. An examples are Alios Finance SA, Gasby Foundation Establishment.

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