Agricultural Workers’ Association Cooperative Credit Union (AWACCU) on Sunday held its 4th Annual General Meeting at the Model Horticulture Centre in Wellingara. The theme for this year’s event was, “Fight poverty: Making available financial and non-financial services to members at reasonable cost.”
Sheriff T.J Sanyang, Chairperson of AWACCU, said the event signifies adherence to the democratic ideals, principles and philosophy upon which governance, management and operation of a credit union movement is anchored.
“It also offers credit union members the opportunity to scrutinise and make those elected directors accountable in managing and utilising their saving,” he said.
Fakebba Sorra, Treasurer at AWACCU, disclosed that their total asset value stands at D6, 610,292.00 compared to the previous year of D4, 858, 66.00, representing an increase of 36 percent. “Accumulated fund is D148, 837.00 compared to D108, 489 in 2014, which shows an increase of 37.2 percent,” he added.
Sorra said loan disbursement has been increased by D14, 134.00; total loans outstanding amounts to D3, 967,438 as at 31st December 2015 compared to D3, 953,304.00 in the previous years. Members’ savings, he reported, amount to D6, 293,053.00 showing an increase of 38 percent over the previous year’s figure of D4, 561,887.00.
Sariyang M. K Jobarteh, Deputy Director General at the Department of Agriculture, deputising for the Minister of Agriculture, stated that AWACCU is in line with The Gambia Government priorities and that they are on the final stage of validating the national development priorities of Programme for Accelerated Growth and Employment (PAGE 2).
He noted that the theme for the 4th AGM is in conformity with the realities of The Gambian situation; “which is fighting poverty by providing financial and non-financial services at reasonable cost”.
Aba Sankara, Registrar of Cooperatives, said the principal activity of the Union continues to be the promotion of savings by members in the form of share and savings and granting of loans to its members in accordance with the Cooperative Societies Act 1990.
“The Union is owned by the members and aim to provide affordable financial services to improve their living standards,” he added.
by Omar Wally