By Fatou Sillah
In a strategic move towards becoming the preferred Islamic microfinance institution in the Gambia, Yonna Islamic Microfinance celebrated the opening of its 11th branch in Farafenni, located in the North Bank Region of the country.
Yonna Micro Finance stated that it operates with a vision centered on sustainability, scalability, inclusivity, and authenticity. The institution prides itself in being led by a team of experts and innovators, who are dedicated to improving the socio-economic well-being of stakeholders and their customers.
During the inauguration ceremony in Farafenni, Managing Director of Yonna Micro Finance, Yankuba Mamburay, highlighted that the expansion aligns with their commitment to bringing financial services closer to the community, echoing the Central Bank of the Gambia’s emphasis on financial inclusion. He expressed gratitude to the Board of Directors for their unwavering support in achieving these noble objectives.
“The opening of this branch forms part of our strategies to bring financial services to your doorsteps, in line with the Central Bank of the Gambia’s desire for financial inclusion. We are grateful to the Board of Directors of Yonna Islamic Microfinance for the relentless support to management for the realization of these noble goals,” He said.
Mr. Mamburay emphasized the diverse services that the new branch will offer, emphasizing Yonna’s role in connecting with the community. The comprehensive package includes provisions for food items through Yonna Enterprise, money transfers via Yonna Forex Bureau, deposit, savings, withdrawal, and financing facilities through Yonna Islamic Microfinance, as well as property insurance through Yonna Islamic Insurance. This integrated approach is seen as essential not only for regional economic development but for the country as a whole.
“We envision that this new Office will help Yonna to connect with the community, and attend to their needs for food items through Yonna Enterprise, send and receive money and get foreign exchange through Yonna Forex Bureau, deposit, save, withdraw and access loans (financing facilities) through Yonna Islamic Microfinance, and insure your properties and thus mitigate risks through Yonna Islamic insurance. As a group, we provide you with a wholesome package that is essential for economic development, not only for the region but for the country as a whole,” He said.
Momodou Barrow, the General Manager of Yonna Forex Exchange Bureau, reiterated Yonna Micro Finance’s commitment to assisting individuals and businesses. Reflecting on their presence in Farafenni over the past decade, he emphasized the community’s appreciation for their work, leading to the decision to establish an Islamic Microfinance branch to cater to various financial needs.
“10 years ago we came here to open a Forex Exchange Bureau for the people of Farafenni, and later learned that the people of Farafenni appreciate our work. That is why we thought it is really important to open an Islamic Microfinance branch for the people to solve their needs in saving their money,” He said.
Lamin Camara, Head of Sharia and Compliance at Yonna Micro Finance, detailed the range of saving accounts offered, including Maboro, Dajaleh, Diaspora, Child Savings, and Umrah accounts. This diverse selection aims to accommodate the unique financial preferences and goals of their diverse clientele.
Expressing gratitude on behalf of the Kerewan Area Council, the Councillor of Farafenni Ward acknowledged and thanked Yonna Micro Finance and the Yonna Group for choosing to open a branch in their ward, recognizing the positive impact it will have on the local community.