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Gamstar Financial Services Opens New Branch In Farafenni

Jul 3, 2009, 7:51 AM | Article By: Nfamara Jawneh

In their quest to bring financial services to the doorsteps of every Gambian, Gamstar Financial Service Limited (Gamsavings) on Wednesday July 1st 2009, opened a new branch in Farafenni, North Bank Region.

Speaking at the opening ceremony, Mr. Bai Ndongo Faal the company's Managing Director paid tribute to the community of Farafenni for the warm welcome accorded to the Gamsavings in the area.

He disclosed that he "has a long-term dream to cross the good services offered by Gamsavings to the area, but it was only this year that God had made it happen". He commended all those who support them to see to it that they have a solid office in Farafenni.

He revealed that they have realised that the conventional banks do actually caters for all sectors of society, noting that they intent to bring financial services to those areas where their presence is seriously needed.

Mr.Faal informed the gathering that ninety nine percent of the staff of the new branch are all residents of Farafenni. This, he added, was meant to create employment for the youths of the area.

"We realised that this place is rapidly growing, thus the need to render you our services," he noted.

He revealed that the services that the new branch will be providing would include savings, giving out loans and Western Union money transfer.

He expressed optimism that since they started operation many years ago, they have never encountered any form of problem with any customers, thanks to the sound financial management of the company and commitment of its dedicated staff.

"Our doors are open for you, any form of business that you want to operate feel free to come forward, we are ever ready to support you," he stated.

"In our work, we do it for the sake of Allah," says Mr.Faal.

For his part, Mr. Momodou Mustaph Yarboh, the General Manager of Gamsavings also thanked the community of Farafenni for their generosity.

Mr. Yarboh revealed that with Gamsavings people could open an account with as low as fifty Dalasi. He appealed to the people of the area to work with them.

Gamsavings boss also hailed certain individuals, including the former Chief of the area, Alhagie Sambujang Jagne, Alkalo and Imam Ratib of Farafenni, as well as various security chiefs in Farafenni for their support.

He commended the people of the area for the way and manner they embraced Gamsavings. "We bring you your own sons and daughters to work with you, this shows how much Gamsavings care about you," he told the gathering.

He finally applauded Mr. Ndongo Faal for his foresight in establishing Gamsavings.

For his part, Alhagie Sambujang Jagne, a community leader extended warm welcome to Gamsavings. He informed the gathering that Bai Ndongo Faal, the Proprietor of Gamsavings is not new to the people of Farafenni, recalling on his close family relations with the people of the area.

He expressed hope that the coming of Gamsavings to Farafenni will boost economic activities in the area.

Alhagie Sambujang also commended the management of Gamsavings for employing the local people.  

"We are very happy with the coming of Gamsavings to our community," says Alhagie Kebba Ansu Fofana, Imam Ratib of Farafenni.

Shortly after the ceremony, this paper sounded the opinions of some residents of Farafenni and local authorities on this development.

Mrs.Sutay Fofana has this to say, "We are really happy with the coming of Gamsavings. It's a great opportunity for us because for some of us when we want to save with other banks we find it very difficult to do so because their opening balance is beyond our reach. So am appealing to every body in the North Bank Region to save and do business with Gamsavings".  

For Mr.Tamba Kinteh, the CEO of Kerewan Area Council, the opening of Gamsavings in Farafenni is a good initiative and a welcome development.

According to him, with a minimum opening balance of fifty Dalasi it will encourage the people to invest.

"Definitely this is a way of contributing to poverty reduction in the country", he stressed.

"Initially, I thought it was a joke to open an account with only D50, but in fact it's a reality. So you will see to it that if a child starts saving now when they grow up they will no doubt have a lot of money in their coffers", he stated.

Farafenni, he said, is one of the major growth centres in the region and investing there is highly welcome. He urged the people of Farafenni to patronise Gamsavings. He added that "just the opening balance is encouraging and cheap".

The opening was characterised by a recitation of the Holy Quaran by the people of Farafenni, led by Imam Ratib of the town.

At the end of the ceremony dignitaries were taken on a conducted tour of the new Gamsavings Farafenni branch.