Investment in youth development in any country is a great contribution to its  socio-economic advancement, hence youths form the bedrock of development and constitutes virtually 90% of the total energetic group.

In its continued efforts in the empowerment of young people in The Gambia, the Bank PHB, through the National Enterprise Development Initiative (NEDI), an initiative established for the young folk, under the Department of State for Youth and Sports will on Friday, February 20th, 2009 disbursh two million dalasi loan to forty youth entrepreneurs within the five regions and municipalities in the country.

The beneficiary young people of this initiative are currently under going five-day training on procedures and management of the monies as well as enhancing their capacities in business currently underway at the President International Award Scheme, Bakau. In his opening statement, Mambanjick Njie, permanent secretary, department of state for Youth and Sports said development is an on going process in the life time of any person. The human mind, he said, must be developed so that they can understand things and also to understand that challenges are not problems.

According to him, the initiative will immensely impact the youth sector of the country as well as reduce the unemployment rate. He said at the department of state for Youth and Sports, they have tasked themselves to the development of youth and sports. “But in order to attain that, young people must be ready to take up their responsibilities” he said. PS Njie then announced that at the end of the training, each of the beneficiaries will be handed over a loan of D50,000 to start their businesses which is payable in two years, with only 17% interest. He also reminded them to make the adequate management of the money so that other youths can also benefit.

PS Njie then thanked the Bank PHB for the initiative and vowed that The Gambia government will continue to have youth issues at the top of its development agenda. Fatou Mass Jobe, group head of retail banking at Bank PHB said the bank is in the country to define possibilities. She said that Bank PHB’s operation is in comparable to any other banks, viewing that the bank has special interest in the empowerment of young people. According to her, Bank PHB believes that, for any country to attain her socio-economic development goals, its young people need to be empowered and be provided with sustainable opportunities. She then urged the beneficiaries to be participating during deliberations so that they can sufficiently carry out their businesses.

Seedy SK Njie, nominated National Assembly member, viewed that The Gambia’s business sector is predominantly the foreigners who are mostly young people. He expressed hope that the initiative will help Gambian young people to excel in business. According to him, it is impossible for every Gambian to work in an office and therefore, others must take the informal way, which he said is normally the must profitable way.
Malang Jasseh, director of youth and sports also called on the beneficiaries to make the proper utility of the loan.