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Madina Sancha VISACA holds AGM, authorities told villagers to do more deposits
Madina Sancha Village Savings and Credit Association (VISACA)
in Medina Sancha village, Kiang West, in the Lower River Region recently held
its Annual General Meeting (AGM) at the region.
The AGM brought
together dignitaries from the Global Youth Innovation Network Gambia chapter (GYIN
Gambia chapter), the Central Bank of the Gambia (CBG), VISACA Apex as well as the
villagers and the satellite villages.
Rural Finance Project (RFP) of International Fund
for Agricultural Development (IFAD) and Government of the Gambia (GOTG) foster
self-sustaining rural Micro Finance Institutions (MFIs) such as VISACAs
VISACAs across the country have
provided access to financial services,putting an end to their members’ dependence on shopkeepers and
Delivering his welcoming remarks on the occasion, the Alkalo
of Medina Sancha, Mr. Mbye Ceesay thanked the dignitaries and the villagers for
their participation in the AGM, which according to him, shows their commitment
towards success of the bank.
The Village VISACA President, Aja Sohna Ceesay, for her
part, hailed the community and the satellite villagers for honoring the AGM
invitation, noting that because of V-Apex’s good monitoring and and supervision
they are still operating in the village.
She appealed on behalf of the village women for development
organisations, UN Agencies and the government to provide them with a market and
a vegetable garden.
Mr. Baboucarr Touray,
the Village Development Committee (VDC) chairman lauded the efforts of the
V-Apex in helping VISACAs holding regular AGMs saying that AGMs are important
as they discuss issues are relevant and
“We all know what we are benefitting from this village bank
directly or indirectly,” he said, while urging the community to double up their
efforts particularly in settling their loans on time to sustain the VISACA’s
and equally do more deposits in the village bank.”
Speaking on behalf of the V-Apex, Mr. Fanding Darboe
expressed delight over the way Medina Sancha community is operating the village
bank. He emphasized that there is still
need for improvement particularly in the area of savings into the bank.
He also lamented that
the percentage of people doing savings is still not up to expectation.
His words: ‘’Records have shown that the number of people
taking loan is still high than the number of people savings with the bank. There
is need for change. The people should know that the bank is not for V-Apex but
for the people of Medina Sancha and the satellite villages. We want you to
increase savings in your bank so that there can be profit if that happen in few
years time there will be no need for credit or load from outside to round you
bank in Medina Sancha.’’
Also speaking on the occasion, the Central Bank of The
Gambia (CBG) representative, Mr. Siaka Bah, Principal Microfinance Officer described
Medina Sancha VISACA as one of the best village bank in the country while
urging members to do more deposits. “We are happy to witness your AGM and that
is why we will also share our ideas and knowledge on how best to operate your
According to Mr. Bah, village banks ensured that villagers
had a secure place to keep their savings and ended their dependence on
Bah concluded by
calling on the Medina Sancha community to increase savings and pay loans on
time in order to maintain the bank operate and save for the future.