Thursday, May 21, 2015

Beakanyang presents 50k soft loans to 15 youths

GYINer Fanta Kongira

As part of its Youth and Women Revolving Fund Scheme, the Beakanyang Kafoo  on Tuesday 19 May 2015 handed over fifty thousand dalasis (50,000.00) to  15 young people across the country to support their petty trading.

The beneficiaries received the disbursement amounting between D3000.00 and D5000.00 which is due for repayment within 6 months.

“Access to capital is key for any kind of business especially as young entrepreneurs. Entrepreneurship is one of the most important inputs in the economic development of a country,” says the Beakanyang
GYINer Bintou Faye
executive director, Mr Nfamara Jawneh while disbursing the soft loans to the beneficiaries at a ceremony held at Beakanyang head office in Churchill’s town.

He noted that this is not the first time that Beakanyang is providing such opportunities to vulnerable people in the society.

Last year, he said, they supported some 100 women in URR with soft loans amounting to over D300, 000.00 to start or strengthen their existing small scale businesses.

“The capital might look small but to us it's important to have a little than none,” Mr Jawneh noted, adding that this funds are their internally generated resources aimed at empowering the youth especially those badly in need of such support.

This, according to him, is part of their efforts to reduce youth unemployment in the country and discourage illegal migration to Europe to some extent.

“This is in fulfillment of one of the resolutions from our 2014 Summer Youth Camp on Illegal Migration. We intend to give out more in coming months depending on the availability of funds,” the Beakanyang Executive director said.

He explained that these beneficiaries are using their funds to sell palm oil, fuel, Omo, secondhand cloths and tye & dye materials in the villages and markets.

He went on to advise them to use the money wisely, saying: “When fully managed this funds can help you multiply your businesses to become millionaires.”

He also reminded them that this money is not a gift but instead a loan and required prompt repayment.

His words: “I would like to remind you all that this money you are receiving today is not a gift but instead a loan. You all know that accessing loans from Banks will require big collaterals perhaps beyond the reach of most of you.

“That is why we decided to provide you with an alternative with the hope that you will not misuse the opportunity.”

Mr Jawneh further disclosed that his organization is also thinking of providing mentorship to young people on entrepreneurship and “I hope some of you will qualify to benefit from that support too.”

As a leading and an influential youth led civil society organization, he said Beakanyang remains committed to the empowerment of young people in the country both in words and in action, noting that this ceremony and many others are a testimony to that.

“We are just setting the pace for other and much bigger organizations to come on board and give more support to young people of the country,” he said.

Two GYIN Gambia chapter (GYINers) benefited from the loan namely Miss. Fanta Kongira from Central River Region South and Miss. Bintou Faye, West Coast Region.

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