Sep 8, 2014, 9:33 AM
The presentation of the interest-free loans, to be paid after one year, was held at Banjulinding KNF office.
The beneficiaries were Lamin Wayoto Women Kambeng Kafo Association, Morriba Ceesay Kafo, Sotokoto Buludunbulu Women Kafo, Jarju Kunda Cluster, and Fulakunda Solidarity Kambeng Kafo.
The presentation to the kafos was in line with the federation’s mission of improving the well-being of deprived, excluded and vulnerable children, youths and their families.
Lamin Jallow, KNF sponsor relations officer, said the beneficiary associations include parents of the enrolled families from the five communities within the operational areas of KNF: Bijilo, Makumbaya, Banjulinding, Lamin and Sinchu.
The support was also part of the new strategy of providing economic empowerment to all existing clusters within the five catchment areas of KNF.
The strategy is a follow up to the central government’s announcement of free education for both boys and girls in primary, junior and senior schools.
“Therefore, since the federation usually spends huge amount of money to pay school fees, now this sum of money will be invested on the clusters to empower them economically in other to have the ability to pay all financial requirements of their children’s education and other basic needs,” Mr Jallow explained.
He urged the beneficiaries to make good use of the loans by investing it wisely in order to repay it on time.
Alieu Mendy, KNF manager, said the federation has been giving revolving loans to kafos for some time now, as part of its focus on supporting the families of KNF sponsored-children to develop themselves to reduce poverty.
He said in the past, the federation only concentrated on the payment of school fees of children, but they now deemed it necessary to take a paradigm shift by supporting the family members to develop.
Mr Mendy also called on the beneficiaries to invest the money wisely in other to effectively serve its purpose.
He encouraged the clusters within the KNF catchment areas to form kafos so that the federation will support their development activities, such as tie and dye, soap making and gardening.
The KNF manager noted that the federation only gives loans to registered kafos with documents like a TIN certificate, registration book and stamp.
He pointed out that KNF discourages the use of loans from the commercial banks in the country because of the high interest rate attached to such loans.
The Board Chairman of KNF, Ebou Faal, said giving interest-free revolving loans is an ongoing activity at KNF.
He also called on the beneficiaries to use the money judiciously so as to ensure its timely repayment, like the previous beneficiaries did.
The five beneficiary kafos also took turns to expressed appreciation to KNF for the support, saying it will enhance their family’s well-being.