The Gambia Micro-Finance Networking (GAMFINET) on Thursday convened a day long sensitisation workshop for its member’s on the theme “introduction to understanding interest rates in the Gambia” at a ceremony held at the Girls Guide Centre in Kanifing.

The program which attracted over 25 participant in the micro-finance institutions and stakeholders was aimed at building their capacities in order to better understand micro-finance related issues on interest rates in The Gambia.   
   
Declaring the training opened, Alasan Bah, the chairman Board of Directors of GAMFINET who also  double as the co-ordinator of the Co-funded Rural Finance Institution, gave an overview of GAMFINET since it was established in 1998.

“The aim of the institution is to improve the working condition of it’s members by building the capacity of stakeholders in micro-finance related project” he said adding that the training is part of its implementation plan in the 2008 annual work programme.

He urged the participants to take the training seriously as the theme is relevant to the poor as they are affected by interest rate in carrying out their daily activities in life.

For his part, Sariyang MK Jobateh, the executive director, Micro-Finance Promotion Centre and a board member disclosed that this is the first training programme for member’s and stakeholder’s in relation to business of the Micro-finance Institution.

He also urged participants to take the training seriously and to share the knowledge gained from the training.

Tijan Bagura, CEO of GAMFINET said his institution was established as a forum were micro-finance institutions would share ideas and work towards the common goal for the micro-finance sector.

According to him, interest rate issues has been very controversial within both micro-finance and the mainstream sector, as interest rate exchange are very crucial to the sustainability of any leading institution.

Saidou Jabbi, deputy director micro-finance at the Central Bank of The Gambia, thanked the management of GAMFINET for organising the forum. He observed that the knowledge gained from the training will help stakeholders in the micro-finance institution to better understand interest rate in The Gambia.

Alasan Gitteh of the social development was the resources persons while Amat Bah of Gamsaving gave the vote of thanks. Certificates where also awarded to participants at the end of the training.