By Mariam Williams
The Senegalo-Gambia Women’s Federation (SGWF) and the Reliance Financial Services on Thursday, 7 November, 2019 signed a Memorandum of Understanding (MoU), in respect of a 50 million dalasi loan fund, at a colourful ceremony held in Kanifing Estate.
The loan targets 3000 women in the aforementioned Federation across the country; and the money would be disbursed to the women in terms of needs and capacity.
Mrs. Awa Khan Ceesay, President of SGWF, said the Federation consists of 3000 members, comprising people from different areas.
She explained that the poultry farmers, fishing sector, food processors, designers and also women in the agriculture sector are the ones that came together to form a Federation.
The SGWF leader enjoined Gambian women to start working for better…, as she attributed the Reliance Finance’s extending of D50 million loan fund to them, due to the Federation’s hard work.
Madam Khan Ceesay applauded RFS for contributing towards the success of women and the Federation, respectively. She also highlighted the successes of their Federation through institutions or Federations across the country, assuring that the money would be put into good use.
Mr. Modou Joof, Head of Operations at RFS, told the gathering that Reliance is determined to continue to avail this limitless opportunities to all Gambia women with an enterprising ambition.
“This is the reason why we are gathered here today to sign this MOU so that all the 3000 members of the Senegalo-Gambian Women Federation can be enrolled into our women finance programme to have full access to our savings, credit facilities coupled with trainings and capacity building,” the Reliance’s Operations chief explained.
He promised that Reliance would now work with the members directly in ensuring proper utilisation of the loan funds, as well as ensuring proper business management and timely repayments.
“If there are signs of setbacks, reliance will again work with the members to find an amicable solution.”
According to Joof, the programme Reliance is extending to members of the Senegalo Gambia Women’s Federation, through this MOU, is their most successful financing programme in their 13 years of existence.
It was successfully piloted in 2014 in North Bank Region (NBR) and West Coast Region (WCR) and rolled out nationwide, covering all Districts and Regions of the country, said Joof.
He told his audience that they are very proud to share with them that, “we have reached a membership size of over 35,00 women who are jointly borrowing over 500 million every six-months with a repayment rate of 98%”.
Fama Sarjo Faye, representative of the Managing Director, reported that Reliance Financial Services’ mission is to continuously support and alleviate poverty in the Gambia by targeting mainly the women.
While noting that they have been working with the women folk,the RFS official told the ceremony that, they (at Reliance) are happy that the Federation is working in the same mission like Reliance.
“We want a partnership beyond 6 months; we want the 50 million dalasi to go for 10 years as partners,” Sarjo Faye pointed out. They are delighted to witness another milestone of Reliance Financial Services’ partnership with Senegalo Gambia Federation and the signing ceremony of the D50 million loan fund, the signing ceremony heard.
Other speakers included Vice President of SGWF Mrs. Ndey Beram Faye, and Mrs Isatou Joof Gagigo, Secretary General of SGWF.
