Empowering Women Through Microfinance

Republic of The Gambia

Amount disbursed: € 315,000.00.

Overview

GAWFA (Gambia Women’s Finance Association) was instrumental in providing access to microcredit to 10,231 low-income women and 409 men in 105 communities from the North Bank region of The Gambia. This helped to finance the expansion or development of their businesses, assist with repaying loans, increase their savings, and in general to improve their livelihoods. Most of the funding was disbursed as microloans. This project supported the AU’s Agenda 2063 aspiration for a prosperous Africa, based on inclusive growth and sustainable development.

Key results

1,545 women and 64 men were trained in entrepreneurship and business skills and 375women and 25 men were trained on GAWFA’s Mobile Banking Technology platform to perform financial transactions and operations in a more transparent and accountable manner. It is estimated that a total of 25,000 people benefitted from these interventions. Arrabiatou Fofana, the beneficiary of the project recounts her story:

 “I was volunteering in a building material store prior to becoming a beneficiary of this GAWFA project. Thank God, after receiving financial and technical advisory services support from the project, I am able to establish and operate my own building material store in my community. I am now able to independently take care of my own needs as a woman and also support my family in their various needs such as medical bills, education and other household needs”.