The Mini Grants Scheme Officer
of the Association National of Cooperative Credit Union of the Gambia (NACCUG),
Mr Saikou Touray has said his office has disbursed about one million, five
hundred and twenty-two thousand, seven hundred and eighty-one dalasi, eighty
bututs (D1, 522, 781. 80) to support the beneficiaries in the country.
The
purpose of the mini grant fund is to enhance employability of youths in the
Gambia, create more youth friendly enterprises thus curbing the menace of
irregular migration while encouraging youth take leadership roles in the credit
union movement.
Since the inception of the
Scheme, Mr. Touray said, NACCUG has been entrusted with its management by the
Youth Empowerment Project (YEP) to support young Gambians in creating prospective
enterprises as well as up-scaling the micro medium, and small scale existing
businesses. As at end of April 30th 2018, 32 young Gambians out of
the 234 applications received nationwide has been awarded grants either to
start a new business or improve their existing business.
The Mini Grant Scheme aims
to complement other components of the YEP project to create an enabling
environment for young entrepreneurs and small businesses. According to Mr. Touray,
Mini Grant Scheme Committee awarded Grants amounting D619, 769.00 to 15 youths
during the first tranche. Similarly, Mini Grants amounting to D903, 012.80 was
also awarded to 17 youths during the second tranche. Thus bringing the two
tranches amount to D1, 522,781.80
The areas supported by
grants include agribusiness, poultry, Information Communication &
Technology (ICT), fashion & textile, tourism, creative industry, etc.
Lamenting some of the
challenges faced in the implementation of the three-year project, the mini
grant officer explained that some of the beneficiaries usually anticipate cash
while disbursements are made in kind which, according to him, is making the
process very slow.
He added that there is a big
awareness gap in the understanding of the mini grant by the youths. “Knowing
how to fill the mini grant form is also another challenge we are facing with
the applicants,” he said.
Mr. Touray went on to call
the young people to apply as the project has two more years to go. We’re still
considering applications.
Application forms are
available at YEP Portal (www.yep.gm)
and NACCUG website (www.naccug.gm )
and all NACCUG regional offices.
About NACCUG- NACCUG, the apex body for
all credit unions in The Gambia, was formed in 1991. It aims at promoting and
supporting the development of viable Credit Unions through sound and
market-based business strategies. It works to develop and make available the
best financial and non-financial services to its members at reasonable cost and
to fight poverty as a model financial co-operative.
About ITC - The International Trade Centre is the joint
agency of the World Trade Centre and the United Nations. ITC assists small
and medium-sized enterprises in developing and transition economies to become
more competitive in global markets, thereby contributing to sustainable
economic development within the frameworks of the Aid-for-Trade agenda and the
United Nations’ Sustainable Development Goals.
About
YEP- The Gambia Youth Empowerment Project (YEP) addresses the
economic root causes of irregular migration by supporting youth employment and
entrepreneurship. The four-year project started in January 2017 and is funded
by the European Union (EU) Emergency Trust Fund for Africa.
For further Information
contact:
Mr. Saikou Touray
NACCUG Mini Grant Officer
Tel: +220 2257333
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