GAWFA introduces mobile banking to reach clients nationwide

GAWFA CEO, Dr Oley Njie-Mbye

The Gambia Women Finance Association has introduced mobile banking system geared towards making mobile money transactions both easier and more available to its clients most of whom live in remote rural areas without access to traditional brick-and-mortar financial institutions.

The project, funded by the Spanish Cooperation Agency, an international agency fighting against poverty around the world, will reduce costs for Gawfa and increase customer convenience.

The 18-month project, approved by the funders in March this year, will help Gawfa’s clients to have improved access to Gawfa-offered financial services by allowing them to access their account with ease and comfort at the place they (the clients) want it. 

With this project, Gawfa uses technology to overcome the barriers of geography and low population density to deliver financial services at low cost across the country.

Rural Finance Project bolsters microfinance institutions

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.

GAWFA CEO Counsels Africa Microfinance Technocrats

The Chief Executive Officer of the Gambia Women’s Finance Association (GAWFA) has told managers of microfinance institutions from all over Africa that they should be “go-getters” and always lead by example.

CEO Oley Njie-Mbye advised managers of microfinance institutions that, where necessary, they should allow their subordinates to take the lead at times to motivate and provide them with the opportunity to be on the drivers’ seats in huddles and meetings. “That way they can experience what it is like to be a leader so that they can see your world though their own lens”.

The GAWFA CEO was speaking on Monday at the beginning of a six-day management development course and training of trainers, for mid-level managers of microfinance institutions in Africa, organized by Africa Microfinance Network (AFMIN) in collaboration with the Centre for Microfinance Leadership at the Women’s World Banking and hosted by GAWFA, the largest microfinance institution in The Gambia.

The programme, financed by Spanish Agency for International Development Cooperation, was aimed at addressing the key concepts of managing for results and also to develop transformational skills for microfinance institutions managers.  

GAWFA CEO said managers of microfinance institutions “must” be flexible and adapt well to changes and the many paradigm shifts that often face microfinance institutions. “You should therefore be able to wear different hats everyday and embrace both leadership and management skills with trust, integrity, diversity, and respect for all,” she remarked.

She continued:  “Please do not assume that you can only develop your leadership skills from your immediate bosses but be diverse in your search and seek knowledge, wisdom and leadership from all sorts of life and all sorts of fields; be it from your family, community, government, and different fields, blue or while collar roles; and different industries from janitorial, engineering, medicine, banking, to microfinance and the list goes on and on.”

For his part, Mr Davy Serge Azakpame, CEO of Africa Microfinance Network (AFMIN), said good leadership and governance are important in the management of microfinance institutions.  He said good leadership is one of key success factors in management.

Ebrima Jawara, project coordinator of the rural finance project, said to date, the project has spent millions of dollars supporting microfinance institutions in The Gambia and “we will continue to strengthen them in a holistic manner”.

The training course was designed to help managers in microfinance institutions to clarify their roles and responsibilities and to improve their strategic thinking through practical exercises base on technical knowledge in microfinance.

GAWFA CEO counsels Africa microfinance technocrats

The Chief Executive Officer of Gambia Women’s Finance Association (GAWFA) has told managers of microfinance institutions, from all over Africa, that they should be “go getters” and always lead by example. Pics: GAWFA CEO and Participants Mrs Oley Njie Mbye advised microfinance institutions managers that where necessary, they should allow their subordinates to take the lead at times to motivate and provide them with the opportunity to be on the drivers seats in huddles and meetings “that way they can experience what it is like to a leader so that they can see your world though their own lens”. The GAWFA CEO was speaking on Monday at the beginning of a six-day management development course and training of trainers, for mid-level managers of microfinance institutions in Africa, organized by Africa Microfinance Network (AFMIN) in collaboration with the Centre for Microfinance Leadership at the Women’s World Banking and hosted by GAWFA, the largest microfinance institution in The Gambia. The programme, financed by Spanish Agency for International Development Cooperation, was aimed at addressing the key concepts of managing for results and also to develop transformational skills for microfinance institutions managers. GAWFA CEO said managers of microfinance institutions “must” be flexible and adapt well to changes and the many paradigm shifts that often face microfinance institutions. “You should therefore be able to wear different hats everyday and embrace both leadership and management skills with trust, integrity, diversity, and respect for all,” she remarked. She continued:  “Please do not assume that you can only develop your leadership skills from your immediate bosses but be diverse in your search and seek knowledge, wisdom and leadership from all sorts of life and all sorts of fields; be it from your family, community, government, and different fields, blue or while collar roles; and different industries from janitorial, engineering, medicine, banking, to microfinance and the list goes on and on.” For his part, Mr Davy Serge Azakpame, CEO of Africa Microfinance Network (AFMIN), said good leadership and governance are important in the management of microfinance institutions.  He said good leadership is one of key success factors in management. Ebrima Jawara, project coordinator of the rural finance project, said to date, the project has spent millions of dollars supporting microfinance institutions in The Gambia and “we will continue to strengthen them in a holistic manner”. The training course was designed to help managers in microfinance institutions to clarify their roles and responsibilities and to improve their strategic thinking through practical exercises base on technical knowledge in microfinance.

GAWFA Finance Company shares up for sale

Lamin Jahateh, Banjul GAWFA Finance Company, the latest financial institution to be launched in The Gambia, has 6,100,000 ordinary shares for sale, at ten dalasis (D10) per share, Oley Njie Mbye, Chief Executive Officer of the company, has revealed. Mrs Mbye called on the general public to review the company’s prospectus, complete an application, make a sound decision and invest in GAWFA’s shares. The CEO called on the general public to join GAWFA in its cause of building safety net for the poor and promoting the economic empowerment of Gambian women by buying its shares to provide an opportunity to change a woman’s life. “I urge you to please reach out and get GAWFA shares today and not tomorrow. Please help build safety nets for the poor and promote the economic empowerment of women,” she added. Established in 1987 as a not-for-profit NGO, GAWFA - the Gambia Women’s Finance Association - recently launched its own financial institution called GAWFA Finance Company, to provide trade finance for Gambian women who would like to expand their businesses or establish new ventures. She said: “With GAWFA shares you are providing an opportunity to change a woman’s life one day at a time, providing safety nets for the poor, empowering women at the socio-economic level and creating the opportunity to make positive changes to a new generation. “In addition you are contributing to make GAWFA sustainable both financially and institutionally to reach the mission and vision of the organization.” Hannah Davis, chairperson of GAWFA board, said by purchasing the shares of GAWFA Finance Company one is providing an opportunity to contribute to the economic empowerment of Gambian women.   “I urge you to buy GAWFA Finance Company limited shares,” Mrs Davis says. Beatrice Allen, a board member of GAWFA, added:  “The shares of the company are up for sale to the general public but specifically for women, because really we want to be able to do for women what nobody else has done for them so we want to encourage the women first to buy.  Nonetheless, we have got some allocations for other members of the public, both companies and individuals, who want to buy shares.” “We encourage strategic investors both national and international level to invest and buy GAWFA’s shares,” a statement from the company says, adding: “GAWFA is the first and the largest microfinance institution in The Gambia established since 1987 and an affiliate of Women’s World Banking network headquartered in New York. GAWFA’s activities are intended to promote social and economic changes in The Gambia.” Brief background about GAWFA GAWFA’s vision is to build a sustainable financial institution that meets the aspirations of women in the vanguard of an evolving financial system, and to regain market leadership by 2020 with a share of at least 50% of the market represented by low Gambia women. The association has it mission to offer an innovative financial solution that contributes to lasting economic and social benefits for low income Gambian women and their families; and create value for our shareholders and stakeholders. GAWFA was incorporated in September 1987 with the main objective of catering for the financial needs of the poor and low-income women of The Gambia. The association was the first micro-finance institution to be licensed by the Central Bank of The Gambia. Over the years, the association has grown from under 100 members to over 48,948 clients, over 90% of whom live in the rural areas. GAWFA provides financial service to low-income women engaged in income generating activities, such as farmers, traders, and handicraft. It continues to provide services that are innovative, flexible and meet the needs of each category of its clients as they grow in a profitable and sustainable manner. Between 1994 and 2007, GAWFA disbursed over D127 million as loans. The association was also able to build a culture of savings among women with more than 48,000 clients accumulating a net savings of D12 million. GAWFA offers three loan products - individual loans, solidarity group loans, and large group loans. Group loans represent 65% of GAWFA portfolio and are concentrated outside Banjul. Individual loans represent 35% of GAWFA disbursement in 2006, and Greater Banjul accounts for 83% of the individual loans disbursed in 2006. GAWFA achieved a high growth in both credit and savings operations over the past five years, but the credit operations have increased more rapidly than the savings.

New finance company launched with ‘celebration of joy, pride, and victory’ PDF Print E-mail User Rating: / 0 PoorBest Written by Yankuba Thursday, 20 January 2011 15:01 By Lamin Jahateh, Banjul Gambia Women’s Finance Association has launched its owned finance institution – GAWFA Finance Company - with a celebration of joy and pride, a victory in taking ownership to become better citizens and contribute to women economic empowerment. Pic: CEO of GAWFA, Mrs. Oley Njie Mbye Launching of GAWFA Finance Company is a clear testimony that GAWFA is on the verge of achieving it vision to build a sustainable financial institution that meets the aspiration of women in the vanguard of an evolving financial system, and regain market leadership by 2020 with a share of at least 50% of the market represented by low Gambia women. “This is a timely and a very important move by GAWFA towards the economic and social empowerment of women and the development of the country at large,” said Mrs Aja Ida Faye Hydara, Executive Director of Women’s Bureau while launching the GAWFA Finance Company on behalf of the Vice President and Minister of Women’s Affairs on Wednesday at the GAWFA head quarters in Kanifing. She continued: “Launching GAWFA Finance Company today is a welcome move as the company is here to contribute to the empowerment of Gambian women.” She however noted that though GAWFA has contributed and continues to contribute to the development of a lot of women in this country and women themselves are very hard working, “there is still a long way to go”. The Chief Executive Officer of GAWFA, Mrs. Oley Njie Mbye said: “At GAWFA we promote self sufficiency, empowerment and capacity building which are integral not only for economic empowerment but also to human services and development in general. Having the resources for strategies alone is not enough but effective outcomes and sustainability are also fundamental for the advancement of women.” The launching of GAWFA Finance Company is seen by many as a step in the right direction as it will provide banking services to that segment of the society who are hitherto left out by the commercial banks thus unable to access loan. Majority of these unbanked population are women many of whom are poor. Gambian women are faced with the challenge of what is consider as the “poverty trap”; the poor women are willing to escape poverty but are limited to do so by using the meager resources own. The challenges of obtaining loans from financial institutions can be attributed to many factors of the “poverty trap”as it can cause a vicious cycle of poverty, the poor women continues to get weaker and confined into extreme poverty if not economically empowered. “It is therefore a moral obligation as global citizens not to lean back and ask what our governments are doing or can do; we need to get up and stand firm on our feet, roll our sleeves up and do our own part. We have our own part to play and ask ourselves what we can do for our country and the world in general to contribute directly or indirectly in many ways to socio economic development,” the GAWFA CEO, who has been a bank executive with over 16 years of diverse leadership experience, said. She continued: “Women are the most impoverished and underprivileged in the world. But we save bigger long term goals and are more committed to make positive changes in our lives progressively; we have effective leadership skills in managing scarce resources and can start something small and grow it big for better economic conditions. Lack of economic empowerment causes low level of capabilities which is depicted as the basic failure of basic capabilities to reach basic necessities of life hence a form of social exclusion.” CEO Njie-Mbye noted that women are generally expected to take secondary, passive role in obtaining credit, but major role in the household. “We are usually considered less suitable than men for higher responsibility on loan acquisition. It is paramount we solidify our own institution through microfinance, and have the ability to influence, or make decisions that affect our lives and be independent.” The launching of GAWFA also witnessed the presentation of an award by the staffs of GAWFA to their CEO, Mrs Njie Mbye, for being a wonderful and a competent leader who always lead by example. According to Hannah Davies, the chairperson of the GAWFA board, GAWFA is the laeding and the first microfinance institution established since 1987 in the Gambia with over 48,948 members and over 13,682 active borrowers and still growing. “We also have several branch offices spread in the rural areas in The Gambia.” Mrs Aja Adulette Sey, one of the members of GAWF explained that GAWFA is here to uplift the status of women in order to eradicate poverty, as women are at the bottom of the poverty pyramid. GAWFA delivers a breadth of financial services to its clients including capacity building through its partners and interrelated organizations.

By Lamin Jahateh, Banjul Gambia Women’s Finance Association has launched its owned finance institution – GAWFA Finance Company - with a celebration of joy and pride, a victory in taking ownership to become better citizens and contribute to women economic empowerment.  Pic: CEO of GAWFA, Mrs. Oley Njie Mbye Launching of GAWFA Finance Company is a clear testimony that GAWFA is on the verge of achieving it vision to build a sustainable financial institution that meets the aspiration of women in the vanguard of an evolving financial system, and regain market leadership by 2020 with a share of at least 50% of the market represented by low Gambia women. “This is a timely and a very important move by GAWFA towards the economic and social empowerment of women and the development of the country at large,” said Mrs Aja Ida Faye Hydara, Executive Director of Women’s Bureau while launching the GAWFA Finance Company on behalf of the Vice President and Minister of Women’s Affairs on Wednesday at the GAWFA head quarters in Kanifing. She continued: “Launching GAWFA Finance Company today is a welcome move as the company is here to contribute to the empowerment of Gambian women.”  She however noted that though GAWFA has contributed and continues to contribute to the development of a lot of women in this country and women themselves are very hard working, “there is still a long way to go”. The Chief Executive Officer of GAWFA, Mrs. Oley Njie Mbye said: “At GAWFA we promote self sufficiency, empowerment and capacity building which are integral not only for economic empowerment but also to human services and development in general. Having the resources for strategies alone is not enough but effective outcomes and sustainability are also fundamental for the advancement of women.” The launching of GAWFA Finance Company is seen by many as a step in the right direction as it will provide banking services to that segment of the society who are hitherto left out by the commercial banks thus unable to access loan.  Majority of these unbanked population are women many of whom are poor. Gambian women are faced with the challenge of what is consider as the “poverty trap”; the poor women are willing to escape poverty but are limited to do so by using the meager resources own. The challenges of obtaining loans from financial institutions can be attributed to many factors of the “poverty trap”as it can cause a vicious cycle of poverty, the poor women continues to get weaker and confined into extreme poverty if not economically empowered. “It is therefore a moral obligation as global citizens not to lean back and ask what our governments are doing or can do; we need to get up and stand firm on our feet, roll our sleeves up and do our own part. We have our own part to play and ask ourselves what we can do for our country and the world in general to contribute directly or indirectly in many ways to socio economic development,” the GAWFA CEO, who has been a bank executive with over 16 years of diverse leadership experience, said. She continued:  “Women are the most impoverished and underprivileged in the world. But we save bigger long term goals and are more committed to make positive changes in our lives progressively; we have effective leadership skills in managing scarce resources and can start something small and grow it big for better economic conditions. Lack of economic empowerment causes low level of capabilities which is depicted as the basic failure of basic capabilities to reach basic necessities of life hence a form of social exclusion.” CEO Njie-Mbye noted that women are generally expected to take secondary, passive role in obtaining credit, but major role in the household. “We are usually considered less suitable than men for higher responsibility on loan acquisition. It is paramount we solidify our own institution through microfinance, and have the ability to influence, or make decisions that affect our lives and be independent.” The launching of GAWFA also witnessed the presentation of an award by the staffs of GAWFA to their CEO, Mrs Njie Mbye, for being a wonderful and a competent leader who always lead by example. According to Hannah Davies, the chairperson of the GAWFA board, GAWFA is the laeding and the first microfinance institution established since 1987 in the Gambia with over 48,948 members and over 13,682 active borrowers and still growing.  “We also have several branch offices spread in the rural areas in The Gambia.” Mrs Aja Adulette Sey, one of the members of GAWF explained that GAWFA is here to uplift the status of women in order to eradicate poverty, as women are at the bottom of the poverty pyramid. GAWFA delivers a breadth of financial services to its clients including capacity building through its partners and interrelated organizations.