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As part of its Youth and Women Revolving Fund Scheme, the Beakanyang Kafooon 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
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.