A considerable hindrance to the progress of the agricultural sector in the Gambia has been attributed to the lack of an Agricultural Development Bank to provide financial support to agricultural projects or agribusinesses, thus causing a nightmare for many Gambian agropreneurs, especially the young ones.
The situation has compelled Agropreneurs like Mr. Alfu Sarr of Ndofan Village, in North Bank Region, to devise all necessary financial mechanisms to access (the limited) funds that are available both within and outside the Gambia, so as to enhance their production capabilities.
The award-winning rural youth farmer and environmentalist is also involved in cashew farming and beekeeping for honey production, among other activities in his native village.
Meanwhile, Sarr has changed his business status from a “Sole Proprietorship {individual entrepreneurship} to a Limited Liability Company{LLC}”, and equally changed its name from Noble Agrotect to Sarr Green Hectares Gambia Limited.
In an interview with journalist Yero S. Bah of Mansa Banko Online Newspaper, the multifaced rural farmer gave reasons for the changes.
“I transitioned my business registration to a limited liability company [LCC] after my previous registration as a sole proprietorship,” he said, disclosing it was after ‘some expert advice’ he had received from the Management of Gambia Angel Investors Network (GAIN). The latter, as this medium understands, is a non-profit entity enabling young Gambian “entrepreneurs gain access to finance to launch and grow their business, and create more decent jobs at home”. Sarr is working with GAIN with the hopes of raking up to $50,000 (3 million dalasi) as investment from their network, he indicated.
[It would be recalled that in November of last year, our medium reported on Mr. Sarr’s receipt of a cheque for 4.5 million CFA franc at the Israeli Embassy in Dakar, from the MASHAV project of the Israeli Government that seeks to financially and technically support African development endeavors in various fields and professions. MASHAV is the Hebrew acronym for Israel’s Agency for International Development Cooperation, under the Ministry of Foreign Affairs.]
Alfu is “grateful that he’s been able to successfully transitioned his business through the effective management” of the financial support he received from MASHAV Project, through the Israeli Embassy in Dakar; and also supports from Social Development Fund (SDF) in Gambia, Youth Empowerment Project (YEP) mini loan, YEP Mini grant, and the Rural Youth Award-organised by GYIN-Gambia.
The founder of Sarr Green Hectares Gambia Ltd. also referred to the training programmes he underwent on entrepreneurship from various institutions like International Trade Center (ITC), Global Youth Innovation Network Gambia Chapter (GYIN-Gambia), Gambia Chamber of Commerce and Industry (GCCI), National Association of Cooperative Credit Union of the Gambia (NACCUG), Gambia Investment Export Promotion Agency (GIEPA), Start-Up Incubator Gambia (SIG) and others, which enabled him to reach the level he’s today.
“The vision of Sarr Green Hectares Gambia Ltd. is to invest up to USD 300,000.00 before the year 2026 with the intention of creating up to 50 jobs for youths. I have always been passionate to become a successful entrepreneur in my community to enrich the lives of the people and give back to them,” he revealed.
However, Sarr admitted that he still needs support to fix some of the major problems he’s currently facing, namely access to finance from the government agricultural development projects, water supply, proper fencing, standard storage and processing facilities.
Company Secretary Sarr mentioned Dr. Aminah Sillah, Chief Executive Officer (CEO) of GYIN -International and Mr. Matthew A. Gomez, a contracted Export and Business Development Adviser at GIEPA as the Directors of the Sarr Green Hectares Gambia Limited.
“I feel great to getting more connected with different institutions both nationally and internationally. As you know, there is no bank for MSMEs or an Agricultural Development Bank; these are the main reasons why we find it difficult to scale-up and to compete with others, especially in the international market,” he argued. Also, he noted it’s very hard to get credits from the commercial banks in the Gambia as many are charging extremely high interest rates up to 25 per cent, saying SDF loans repayment “is only 12 months with 10 per cent”. In contrast, he opined, their fellow entrepreneurs in other parts of the world are well-empowered to curb the effects of youth unemployment.
Sarr has demarcated his Ndofan garden accordingly as 7.5 hectares is for cashew, moringa and beekeeping whilst 2.5 hectares is for banana plantation, vegetable production and sheep fattening, respectively.
