Rural
Finance Project recently enhanced the operations, efficiency and effectiveness
of some microfinance institutions by providing them with motorbikes and
management information system equipment worth more than two million eight
hundred and thirty-eight thousand six hundred and thirty-seven dalasi (D2,838,637).
The
beneficiaries, the National Associations of Cooperative Credit Unions (NACCUG),
the Gambia Women’s Finance Association (GAWFA) and some other microfinance
institutions, were handed the materials at a ceremony held on 30 March at the
Rural Finance Project offices located at Cape Point in Bakau.
The
donated items included 13 motorbikes, 38 solar panels, computers and
computer-accessories.
Speaking
on the occasion, Madam Ada Gaye, permanent secretary at the Ministry of
Agriculture, said the donation is as a result of lack of transparent and
reliable information within the framework of the Rural Finance Project
monitoring and evaluation activities.
“Provision
of information facilities to collect first-hand data and establish a network of
focal points will offer easy-access to updated and reliable information that
will encourage and promote a new collaborative sharing of information for
consultation and planned activities of the RFP,” said PS Gaye.
The
donation is a strategy for promoting economic growth and reducing poverty by
building and strengthening private enterprises and membership
organisations.
PS
Gaye pointed out that the management information systems will provide real time
information on Micro-Finance Institutions (MFIs) operations and performance
indicators.
The
systems will not only provide timely information for evidence-based
decision-making but also improve the quality of work on the ground as
accurately as possible.
For
the motorbikes, the Agric PS says it will specifically help to address the
constraints on loan recovery, which hinders the operations of most MFIs,
particularly VISACAs, leading to their closure due to high rate of loan
default.
This
is as a result of long distance and limited follow-ups on clients owing the
MFIs, Madam Gaye said. “But with the motorbikes, the works of the implementing
agencies will now become easier for them to be mobile and follow-up loans that
are due for payment.”
For
his part, Lamin Fatajo, coordinator of the Rural Finance Project, said the
donated items will help the beneficiary microfinance institutions to recover
loans in their respective places of operations, while urging them to make good
use of the items.
Speaking
on behalf of the beneficiaries, Dr Oley Njie-Mbye, chief executive officer of
Gawfa, thanked the RFP, saying the donated equipment will cushion their
workload.
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