Finance Administrator of the Resource Center, Mr. Bawa Abdul-Rahaman
The Tumu Business Resource Center and a Non-Governmental Organization, Vision Fund have jointly offered soft loans to support more than 300 women in small and medium scale businesses in the Sissala West and East Constituencies.
The scheme, this year is targeting 50 groups of women who are into Village Savings and Loans Associations, VSLAs.
According to the Finance Administrator of the Resource Center, Mr. Bawa Abdul-Rahaman out of the 50 VSLAs targeted 11 of them, each comprising 30 members, has received the loans translating into about 330 beneficiaries so far.
He revealed that at the end of the scheme, a total of about 1,500 individuals mostly women would have benefitted from it.
He further disclosed that the scheme has been divided into two models; commercial and agriculture and that the first model is targeting VSLAs which has kicked started.
Also, the second model would be targeting the VSLAs who are into agricultural activities such as crop cultivation and animal rearing.
Mr. Bawa Abdul-Rahaman also stated that first repayment plans for previous loans went successfully giving his outfit and their funding partner Vision Fund the confidence to scale up the scheme to cover more women in SMEs to alleviate their financial woes.
A 39-year old Jamila Wogie in an interview with Ayamga Bawa Fatawu shared her excitement concerning the financial support, expressing that the support has enabled her restocked her provisions store because it was temporarily shut down due to lack of funds.
She said, the financial boost she had has enabled her to take care of her two wards who are in their final year in Senior High School, and wondered what her fate would have been without the intervention.
She has, therefore, made a passionate appeal that provisions be made to increase the amount for any committed and non-default members.
Another beneficiary who is a fry yam seller in Tumu town, Memuna Ibrahim said the interest rate and time for repayment are very flexible for petty traders like her and has said, “the scheme is a tool for poverty alleviation”.
She also said being part of the first beneficiaries, she is almost done with the repayment and hence would apply if given the chance to scale up her street vendor business.
As at the time of filing this report VSLA groups were spotted at the Business Resource Center waiting for another disbursement and also a meeting with Vision Fund officials.
Meanwhile, the General Manager of the Tumu Business Resource Center Mr. Aminu Sulemana who further elaborated on the implementation of the financial and livelihood solutions to women into petty trade and businesses said the support scheme is targeting about 1,500 beneficiaries at the end of the program and that will have a trickle-down effect on their dependents as well.
Mr. Aminu Sulemana further disclosed that, aside from financial support to their clients, there are other equally important services they render and which include but not limited to business management training, bookkeeping, entrepreneurial training, financial management, and business proposal writing.
He also said the center is currently undertaking an exercise sponsored by the Rural Development Fund under the Ministry of Trade and Industry to equip the youth with working skills to mitigate youth unemployment in the Constituency.
The program dubbed 'Youth Employable Skills Training' trains the youth in satellite installations, welding, and fabrication, carpentry, masonry, sewing among others.