Gambia

 

Overview of ILCU Foundation Support:

The ILCU Foundation has been working in collaboration with the National Association of Cooperative Credit Unions of Gambia (NACCUG) since the beginning of the 1990’s. During this time the ILCU Foundation has been instrumental in the success of the movement and has brought the national body to a point of self-sustainability. The ILCU Foundation has provided a wide range of support to the Gambian credit union system over its lifetime, as the movement continues to grow the ILCU Foundation has transferred appropriate and contextual advice during each stage.

Members of Tambasansang Credit Union with their innovative savings boxes,
provided by ILCU Foundation

Key Activities and Progress in 2015:

  • Total membership increased from 64,651 to 67,897 - representing growth of 5%
  • Total savings increased from GMD 672 million to GMD 757 million (€15,511,973) representing growth of 13%
  • Increased marketing activities, promoting credit unions through radio and new product development
  • 201 innovative savings boxes were distributed to rural communities through local credit unions
  • Member financial literacy training and graduation microfinance programmes were delivered to rural communities
  • Governance training was delivered to Board of Directors and other committees

Technical Assistance

  • Strategic planning
  • Legislation
  • Regulation and supervision
  • MIS
  • Governance
  • Credit union management
  • Savings and loans
  • Savings boxes
  • Social performance management

At a glance

Population: 1.8 million

No. of credit unions: 71

No. of members: 67,897

% living on < €1 a day: 33%

Life expectancy: 58 yrs.

Type of loan issued: Agricultural, commercial, educational, housing and medical.