NACCUG holds AGM

The National Association of Cooperative Credit Unions of The Gambia (NACCUG) on Saturday held its Annual General Meeting at its Head Office in Kanifing.

In delivering his Annual Report for 2010, Baboucarr Fatty, chairperson of NACCUG, said: "As we assemble to mark the 20th Annual General Meeting (AGM) of members of the National Association of Cooperative Credit Unions of The Gambia (NACCUG), I wish to take this unique opportunity to warmly welcome all of you and in particular our honourable guest speaker to this important occasion."

Mr Fatty explained that the forum provides the opportunity for members to review, scrutinise and pave the way for their elected representatives to the accountable to the general membership. Moreover it avails the executives the opportunity to give feedback on the achievements, and challenges as well as to map the future of the movement.

He added that co-operators anniversary marks two decades of healthy and sound atmosphere of our operation in this country. He said NACCUG has maintained twenty years of dedication, hard work and commitment in upholding the standards and principles of credit unionism through strong and viable partnership with sponsors, stakeholders, government, development partners both nationally and internationally, credit unions. Without their support, we would not been where we are today.

According to him, membership grew from 35,492 in December 2009 to 40,546 in December 2010 representing a growth rate of 12 percent. This achievement represented 84 per cent of our annual membership target.

He added that savings grew from GMD205 million in December 2009 to GMD275 million in December 2010 representing a growth rate of 34 percent and 200 per cent of our annual target of GMD35 million.

He said that loans outstanding increased from D158 million in December 2009 to MD213 million in December 2010 thus representing a growth rate of 35 percent.

"In a relative development, the Finance and Administrative Manager continues to pursue his ACCA career by sitting two additional papers during the course of 2010. On the other hand, the Accounts Officer (1) was sponsored to pursue additional modules on ACCA Fundamentals after her completion of the foundation level."

Patricia Wall, Country Director of Concern Universal The Gambia and Senegal, was the invited guest speaker for the occasion. However, she was represented by Lamin Sawo, project manager, Micro-Enterprise Development Concern Universal. Lamin Sawo spoke on the theme "Power of partnership".

According to him, there is the need for concerted efforts in trying to achieve and maintain world peace, socio-economic development and food security, which has become highly urgent as enshrined in the Terms of References of many sub-regional and regional platforms as well as in various declarations of the United Nations.

"It is common knowledge that the human development process is dynamic and that it has grown to become increasingly complex beyond the comfort zone of mankind," he said, adding that the power of partnership is unlimited in benefits if the relationship is based on a mutual trust, confidence and shared will to win together.