general manager of the National Association of Cooperative Credit Unions of The
Gambia (NACCUG), Mr. Baboucarr Jeng has advised the Youth Empowerment Project
(YEP) – Mini Grants Scheme beneficiaries to distinct their businesses from
personal engagements to avail them the opportunity to grow their business.
Mr. Jeng made these remarks at the opening of a two-day training: 3th to 4th August, 2018, at the Credit Unions Training Academy at NACCUG’s head office in Bakau.
According to him, as young entrepreneurs, “it is paramount to separate your businesses from your personal spending to ensure a going concern undertaking. I know all of you have a dream and your dreams can only be realised if you take concrete actions towards achieving them and that of your business objectives as young people.”
He also outlined the significance of the training, stating that it will go a long way in improving their businesses’ growth potentials as well as record keeping and savings skills to ensure a going concern venture.
Mr. Jeng further advised them to focus on their businesses and spend less time on social events, noting that the money they got from the Mini Grant Schemes can help to expand their businesses while for others it’s a good start-up.
“We want to see your businesses running in the coming years, you have been given an opportunity and make sure you become successful than failures.”
According to him, many young people from the priority regions (Greater Banjul Area, North Bank and Central River Region) have applied but only few with good business/proposal believed to be profitable and sustainable are selected. He therefore called on all beneficiaries to make the stakeholders of the project proud by using this rare opportunity to make their businesses a model for other youths to learn from.
On NACCUG, Mr. Jeng said it belongs to credit unions. He added that credit unions are membership based and as such they are owned and managed by the members. Therefore, “if you’re not a member, you cannot benefit from the services offered by credit unions,” he explained.
On the YEP Mini Grant Sheme, Mr. Jeng further explained that the Mini Grant is funded by the European Union Emergency Trust Fund for Africa and is being implemented by the International Trade Centre (ITC) through YEP Gambia Office, the Ministry of Trade, Industry, Regional Integration and Employment (MoTIE), the Ministry of Youth and Sports (MoYS) as well as the National Youth Council (NYC).
According to him, NACCUG is among the YEP Gambia implementing partners responsible for the Mini Grant Scheme which is geared towards enhancing the employability and self-employment opportunities for youth.
He stated that the success of the Mini Grants Scheme entirely depends on the beneficiaries (youths) while urging them to live up to expectations in achieving the intended purpose of the fund.