By Kebba AF Touray
The Minister for Higher Education, Research, Science and Technology, Prof. Pierre Gomez, has told members of a joint committee of the National Assembly that the government will offer loans to students to pay for their studies under the self-replenishing revolving fund to reduce reliance on government grants
“Loans will be disbursed to eligible Gambian students enrolled in accredited tertiary institutions, and higher education institutions in the Gambia,” Prof. Gomez told Members.
Minister Gomez made this disclosure while giving an overview to members of the joint committee on Finance and Public Accounts Committee (FPAC) and Education, on Monday, 27 January 2025, during his engagement with members of the joint Committee on the Student’s Revolving Fund Scheme.
“No country will develop without a highly skilled youthful population. It is our conviction from the Higher Education Ministry that if we want the Gambia to change and for development to take place, we need to invest in education,” Prof. Gomez said.
According to him, the revolving fund seeks to prioritize support for marginalized groups like women, girls, and differently abled individuals and to ensure equal opportunity for all demographic groups within the regions.
“The fund also seeks to strengthen human capital development and to address the country’s skill gap by enabling more Gambians to pursue higher education in critical fields. It also seeks to ensure financial sustainability and establish a self-replenishing revolving fund to reduce reliance on government grants,” he said.
Minister Gomez further told members of the joint committee that key features of the bill regarding the structure of the scheme, will establish a revolving fund and capitalize government contributions managed by the board, and supported by a secretariat.
Dilating on the focus areas regarding the target groups, Prof. Gomez put special emphasis on girls, women, and differently abled individuals, adding this will promote inclusivity in priority fields, and focus on programs that align with national development priorities such as STEM and health sciences among others.
On sustainability mechanism system, he said graduates will pay loans over an agreed period with consideration for income levels, to prevent undue financial burdens.
On enforcement measures, Prof. Gomez said the scheme will employ bonding and collateral mechanisms, to ensure compliance saying “this is taxpayer’s money. So any butut must be accounted for.”
On a rational and policy alignment, he explained that access to higher education results in national productivity and equips a workforce with critical knowledge skills, and competencies.
He added that countries that invest in education financing such as Ghana and Rwanda have shown higher economic growth rates due to increased labour market participation by knowledgeable and skilled graduates. He underscored that education remains a fundamental human right and the scheme aligns with government policies to promote equitable access to education and addresses disparities affecting women, the rural population, and vulnerable groups.
On policy and legislative alignment, Prof. Gomez said the scheme supports the NDP’s focus on human capital development as a driver of socio-economic progress as part of MOHERST’s Strategic Plans for 2021-2025.
On relevant legislation, he said the bill complements the Tertiary and High Education Act of 2016 and the NAQAA Act of 2021.
On the anticipated economic and social impact of the scheme, he said by reducing financial barriers, the scheme will enable more students to pursue tertiary and higher education particularly those from low-income households. This, he noted, will also improve equity, as targeted support for women, girls, and differently abled individuals, will foster more inclusiveness in the education system.
“Graduates will continue to priority sectors to address national skills shortages and drive economic growth. They will fulfil a system of containment where Gambians will be the ones in charge of their economic development agenda and their destiny,” Prof. Gomez said on workforce development.
On the issue of financial sustainability, Prof. Gomez said a robust repayment system and bonding agreement will minimize default and ensure the fund remains self-sustaining.
“The Ministry will implement targeted awareness campaigns to educate stakeholders on the benefit and repayment flexibility of the scheme,” he said, adding that the scheme will also seek to ensure the introduction of incentives for timely repayment, with penalties for defaulters. The recommended measures for this, he said, include the approval of the bill, endorsement of the student loan scheme, establishment of a legislative framework for the scheme, an annual budget allocation, approval of an annual appropriation for the initial capitalization and operational cost of the scheme, and others.
