National Association of Cooperative Credit Unions of The Gambia (NACCUG)
Saturday organised financial literacy training for young entrepreneurs who
benefited from the European Union funded Youth Empowerment Project (YEP) mini
Patrick Mendy, NACCUG head of administrations and finance said they work with communities to improve their livelihood through savings, financial literacy training, onsite and offsite monitoring of credit union transactions and microfinance service delivery.
He reminded beneficiaries that the mini grant scheme builds on the initiative of the 11 million Euro EU funded project which aims to enhance employability and self-employment opportunities for youth, with a focus on vocational training and creation of micro and small-sized enterprises.
“The first phase of the mini grant is very important because if it fails, it would be difficult for us to continue with the second phase. I therefore urge all of you to fasten your belts to make sure that the money is spent wisely to have an impact on your lives and those of others.”
Mr. Mendy disclosed that his office received more than 100 applications from young people and they are still receiving more from across the country but the mini grant committee only approved applications that can have progressive bearing with quality results. “NACCUG will ensure that the mini grant scheme is managed effectively and efficiently,” he declared.
Saikou Touray, NACCUG mini grant officer said they will use their management structure for the successful implementation and monitoring of the initiative while emphasising that more focus should be directed at innovation.
He appealed to beneficiaries to be honest when submitting invoices for payment while encouraging them to continue striving hard.