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Published On: Thu, Oct 20th, 2022

50 entrepreneurs taken through Islamic Micro Financing training

Fifty entrepreneurs in the ruminant sector were recently taken through capacity building on Islamic Micro Financing training program by SupersoniczMicrofinance in collaboration with The Gambia Teachers Cooperative Credit Union.

The two-day program was with its objectives to improve the skills of the entrepreneurs to flourish their businesses and access Islamic microfinance to increase the production and productivity of small ruminants in the country.

Speaking at the training, MamudNjie, the Project Director of the Small Ruminant Production Enhancement Project underscored that the purpose of the meeting as to gather some of the beneficiaries who have access to loans from Islamic microfinance to train and increased their knowledge on entrepreneurship and further enhance them on Islamic financing information.

He noted that “fifty participants are selected and a subsequent will also be held in the upcountry where fifty participants will also attend because we want to enhance their knowledge in Islamic microfinance.”

He further reminded them that the objective of the small ruminant project was to increase the production and productivity of small ruminants in the country and encourage people to become entrepreneurs in the production of small ruminants that have many branches.

He advanced that the activity was to access Islamic microfinance and that they have components in production and marketing areas. Adding that constructions are already underway in the production and marketing areas.

He hoped that in the next twelve months, all these facilities will be ready for production to have somewhere to sell, a place to slaughter, a place to buy meat and that there will be production centers where one can access every time.

Mr. Njundu Fatty, the CEO of Supersonicz Microfinance, also said the Gambia government has seen the challenges people go through to get ruminants outside the country, particularly when the Tbaskifeast approaches, which he said has led to the government introducing the project to ease the challenges and make it accessible in the country.

He noted that the Islamic Development Bank is based on Shariah principles to assist people to have access to finance. “To make it clear, the project is a loan. You take the loan, start up your business and pay it back,” he discosed.

Mr. Fatty there urged all participants to pay back their loans which he said will make it easier for others to have access to the loans and for the beneficiaries to get back the loan again and hope that in 3 years that the challenges will reduce if loans are properly managed by the beneficiaries.

Other speakers included DawdaKujabi, the General Manager of GTCCU, who advised participants to wisely invest in the loan, adding that the project is meantto empower youth and women, and therefore he encouraged all the youth folks and women to come on board and make the best use of the project.

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