The Daily Observer (Banjul)
Hatab Fadera
6 June 2008
Banjul — A total of D886,750 has been disbursed to 21 ex-corps members of the Youth Service Scheme (NYSS), at a ceremony held at the Joint Officers Mess in Kotu. Mass Axie Gye, the secretary of state for Youth and Sports, presided over the disbursement.
The sum was paid to the beneficiaries as loan, after undergoing a two-year training in specialised areas of skills programmes at the NYSS.
Speaking at the ceremony, SoS Gye commended the ex-corps for the hard work. He said the loans were meant to promote enterpreneurship ventures and that they should be repaid to enable other young people to benefit from the fund. He assured the youths of The Gambia government's support.
Urging them to serve as worthy ambassadors of the NYSS, the Youth and Sports secretary of state called on both the government and private institutions to patronise the services of the ex-corps members in order to help them realise the fruit of self reliant ventures.
Mambanyick Njie, the permanent secretary at the Department of State for Youth and Sports, urged the beneficiaries not to lavish fund, but use it wisely to improve their lot and participate in national development.
For his part Musa Mbaye, the executive director of the NYSS, said the fund will go a long way towards addressing some major constraints encountered during and after acquiring skills for self-employment.
He advised the beneficiaries to utilise the money within the shortest possible time, noting that the fund was not a gift or a grant, as it must be repaid with interest over a specified period of time.
"We are charging a reasonable interest rate which of course is one of the lowest in the credit market. Nonetheless, the yield will depend on your management in order to realise a gainful output," he said, urging the guarantors to serve as "chief advisers" to the beneficiaries.
Mr Mbaye lauded The Gambia government through the Department of State for Youth and Sports, the Social Development Fund and other key stakeholders, for making the disbursement possible.
Alhagie Baboucarr M Saho, the chairman of the Board of Directors of NYSS , expressed similar sentiments. The ceremony was chaired by Marcel Mendy, the public relations officer of the NYSS.
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