Official opening of the new Yonna Microfinance branch in Basse
By Ramatoulie Jawo
In response to growing customer demand for faster and more efficient service, Yonna Islamic Microfinance opened a new branch in Basse, Upper River Region (URR), on Monday.
Speaking at the opening ceremony, Mr. Yankuba Mamburay, Managing Director of Yonna Islamic Microfinance, described the event as a significant milestone for the organization.
Mr. Mamburay said that Yonna has been dedicated to empowering individuals and communities through its tailored financial services since it was founded.
Mr Yankuba Mamburay, Managing Director Yonna Microfinance
“Today, as we expand our reach with this new branch. We reaffirm our commitment to delivering excellent services and making a positive impact on the lives of the people of Basse and the surrounding communities. We are proud to announce that this new branch is the latest addition to our growing family of branches, bringing the total number of our branches across the country to ten (10). And we are only two years in the market,” he said.
Mr. Mamburay expressed his gratitude to Yonna’s valued clients and partners for their support and trust, which made the expansion possible. He also mentioned that Yonna chose to establish a branch in Basse because they saw the untapped potential and opportunities in the community.
Mr. Mamburay reiterated Yonna’s goal of providing exceptional services to foster financial inclusion and support entrepreneurs. He believes that these efforts will help the Basse community flourish.
“Our commitment to delivering excellence extends beyond providing financial services. We strive to foster a culture of continuous learning, empowering our clients with financial literacy programs and capacity-building initiatives. Through the initiative, we aim to equip our clients with knowledge and skills that are necessary to make informed decisions, especially when it comes to financial decisions and achieve long-term financial sustainability,” he said.
Mr. Mamburay, the managing director of Yonna Islamic Microfinance, encouraged the people of Basse to take advantage of the opportunities that the company offers.
Mr. Lamin Sisaho, the head of treasury and human resources at Yonna Islamic Microfinance, said that one of the things that makes their services unique is that they are strictly in line with Sharia law. They charge profit rather than interest, and they do not involve themselves in any businesses that are considered haram, or forbidden, in Islam.
Mahamadou Ceesay, the Chairman of the Basse Area Council, has said that his region has faced significant challenges in accessing financial services for a long time.
Mahamadou Ceesay, Chairman Basse Area Council
Chairman Ceesay said that many young people in his region have difficulty obtaining loans from commercial banks due to the high-interest rates. However, he said that this will no longer be a problem with the arrival of Yonna Islamic Microfinance, which offers loans without interest.
“This will help the region in terms of job creation. We are aware of a good number of people both men and women who are engaged by Yonna Islam Microfinance. As an authority, we must acknowledge this. Thank you for reducing the burden on us. Because it is our responsibility to create jobs for our people in the region and you are in that and supporting us in terms of social responsibility,” he said.
Babucarr Sidibeh, the Basse Regional Youth Chair, highlighted the importance of microfinance in achieving sustainable development goals, such as eradicating poverty, reducing inequality and promoting inclusion, and stimulating economic growth.
“Microfinance is a powerful tool for poverty reduction, financial inclusion, and social economic development, providing individuals and communities with opportunities to break the cycle of poverty and achieve sustainable development,” he said.
Ousman Jallow, the representative of the Basse Alkalo, appealed to Yonna Islamic Microfinance to focus more on their women clients.
Jallow said that women are involved in many financial activities, but they often struggle to manage the large amounts of money they receive. He urged the microfinance institution to provide more training and support to women so that they can better manage their finances and achieve their financial goals.
Mamading Ceesay, Deputy Governor of URR, expressed his delight in welcoming Yonna Islamic Microfinance to their community. He believes that the company’s presence will bring significant opportunities for the people of URR.
The Deputy Governor further encouraged the residents of URR to open an account with Yonna Microfinance. He noted that the company is committed to fostering economic development in the community.
Yonna Islamic Microfinance, a full-fledged Islamic Micro financial institution in the Gambia, was granted a licence in April 2021.
It has many services suitable for low-income people such as small-scale business holders, farmers, youth, and women.