Tuesday, September 22, 2020

Gambian Ministry Plans to Create Women Bank

Must Read

Why Would Any President Want To Serve More Than Two Terms?

QUESTION OF THE DAY Nigeria has a population of 203 Million while the USA has a population of 330 Million...

Foni Jarrol MP: Lawmakers who vote against draft constitution should not be branded as bad Gambians

By: Kebba AF Touray Honorable Alhagie Sankung Jammeh, the lawmaker for Foni Jarrol, said people who against the draft Constitution...

Tabally Family Seek Assistance to Re-build Collapsed Building

By Nelson Manneh   The Tabally family of Faraba-Sutu village in the West Coast Region, is seeking assistance from all...

By Momodou Jarju

The ministry of women, children and social welfare has revealed its plan to create a Women Bank through a ‘Women Enterprise Fund’ it is working on to get it approved.

The minister of the aforesaid ministry, Mrs. Fatou Kinteh, while speaking recently before the national assembly, said the longtime objective of the Women Enterprise Fund is to create a women bank that will ensure Gambian women have access to funds to benefit their work.

Already, she said Cabinet has approved the Women Enterprise Fund proposal. She was responding to oral questions at the assembly while presenting on the Women Enterprise Fund Bill, 2020. She asked the national assembly to consider the proposal she made before them.

The national assembly unanimously voted for the deferment of the bill to the Assembly Business Committee to discuss and allocate the bill to the relevant Committee.

- Advertisement -

“For the Women Enterprise Fund, EU has pledged three million euro and the Government of The Gambia six million dalasis (D6, 000, 000.00),” she said. “And we have opened an account with the Central Bank of The Gambia, the monies will be lodged into that account and as people and individuals apply, they will be assessed base on set criteria, once they are qualified then they will be contacted again to see whether they have livelihood skills of their choice.”

Minister Kinteh further said if the women have livelihood skills, they will train them on entrepreneurship before the funds are disbursed. But if they don’t have livelihood skills, she said they will train them on livelihood skills and entrepreneurship before the funds are disbursed.

The public officer said their staff will work closely with women to encourage them build a saving culture, adding that the initiative would be like a loan scheme that would incur very low interest rate.

“The reason being is women don’t have Title deeds,” she said.

She added the banks ask for collateral and in most cases the women do not have title deeds.

She said: “And the few who have Title Deed, when you eventually submit it to the bank, the interest rates are so high, you end up becoming poorer by the time you finish paying the loan,” the minister said.

Latest News

Why Would Any President Want To Serve More Than Two Terms?

QUESTION OF THE DAY Nigeria has a population of 203 Million while the USA has a population of 330 Million...
- Advertisement -

Foni Jarrol MP: Lawmakers who vote against draft constitution should not be branded as bad Gambians

By: Kebba AF Touray Honorable Alhagie Sankung Jammeh, the lawmaker for Foni Jarrol, said people who against the draft Constitution should not be branded as...

Tabally Family Seek Assistance to Re-build Collapsed Building

By Nelson Manneh   The Tabally family of Faraba-Sutu village in the West Coast Region, is seeking assistance from all and sundry to rebuild their...

GAMCOTRAP to Distribute 10,000 Face Masks to Gambian Children

By Ndey Sowe The Gambia Committee on Traditional Practices affecting the Health of Women and Children (GAMCOTRAP) has launched a project aimed at distributing 10,...

BCC Mayor to Contest for President of African Capital Cities Sustainability

By Ndey Sowe Rohey Malick Lowe, the Mayor of Banjul City Council (BCC) has been short-listed in the run-up for elections for the President of...
- Advertisement -

People Also Read This