VP champions MSMEs as key drivers of national development As GTUCCU Hosts Major Business Event

VP Jallow was speaking recently at the Coco Ocean Resort & Spa, where he served as Guest of Honour at the GTUCCU MSME Event that brought together about 200 business owners and prospective business clients.

Held under the theme "GTUCCU, Your Reliable Partner for Business Growth and Sustainability", the summit highlighted the critical role of MSMEs in creating jobs, stimulating innovation, and driving inclusive growth across The Gambia.

In his keynote address, VP Jallow emphasised the importance of MSMEs to the nation's economy.

"MSMEs are the backbone of our economy. They create jobs, stimulate innovation, and drive inclusive growth," he stated.

"In The Gambia, MSMEs represent the hopes of our youth, the enterprise of our women, and the resilience of our communities."

The Vice President commended the Gambia Teachers' Union Cooperative Credit Union (GTUCCU) for its clear vision and practical commitment to supporting MSMEs, while also acknowledging DSIK Western Africa for sponsoring the event. He highlighted how such partnerships demonstrate the power of collaboration between local institutions and international partners in delivering lasting impact.

GTUCCU's Track Record in National Development

GTUCCU's role in job creation and economic growth has been evident through its financing of businesses across trade, agriculture, education, and services sectors. The Vice President noted that each loan disbursed by GTUCCU is not merely financial support but an investment in livelihoods, dignity, and opportunity.

The Government of The Gambia has partnered with GTUCCU in key national development programs, particularly in agriculture. Through projects such as the Small Ruminant Production Enhancement Project (SRPEP), the GIRAV Project, and the ROOTS Project, GTUCCU has served as a trusted implementing partner, channelling resources efficiently to farmers, women's groups, and rural communities.

"These interventions are improving food security, raising rural incomes, and creating sustainable employment across the agricultural value chain," the Vice President explained, while urging MSME members and potential members to seize the opportunity and engage with GTUCCU. "Explore the services available, and take bold and innovative steps to grow your businesses," he encouraged.

GTUCCU has demonstrated strong commitment to human capital development, particularly in education. The institution continues to support the University of The Gambia (UTG), the University of Education, The Gambia (USET), and other schools across the country, strengthening access to quality education. The credit union's expanding branch network has also improved visibility, access, and inclusion. New branches in Bakoteh, Gunjur, and Farafenni have brought financial services closer to underserved populations, particularly women and youth in rural and peri-urban areas. This expansion not only improves access to finance but also unlocks new economic opportunities and promotes balanced regional development.

CEO Shares Personal Testimony

Mr. Dawda Kujabi, Chief Executive Officer of GTUCCU, also shared his personal journey as a living testament to the transformative power of credit unions.

Speaking emotionally about his experience, he revealed how the credit union enabled him to finance his education at the University of The Gambia in 2008.

"From a village where education is embraced but power to support education financially was a challenge, the Credit Union served as a beacon of hope that led to my transformation as an individual," Kujabi stated.

He emphasised that GTUCCU has grown from a room and parlour office in 1997 to operating 12-13 branches across the country.

Kujabi highlighted three key roles of credit unions: facilitating access to finance, contributing to domestic resource mobilisation, and building financial capability and business skills. He emphasised that savings are paramount in the credit union philosophy, stating, "An individual intending to join or benefit from the credit union must embrace this philosophy to maximize the benefits."

For his part, His Excellency Klaus Botzet, Ambassador of the Federal Republic of Germany to The Gambia, emphasised Germany's commitment to supporting MSMEs and financial inclusion in The Gambia.

"Only a fast-growing private sector, in particular small and medium-sized enterprises, can produce jobs in large numbers," Ambassador Botzet stated, drawing on Germany's own economic experience. He noted that Germany's economy is built on small and medium-sized enterprises, supported by savings banks and cooperative institutions dedicated to serving them across generations.

By Mariatou Ngum

& Abdou Mbye