Liberia: Mining - BMMC's Usd150,000 Micro Loan Making Significant Impact to Tajah Village Savings Club and Others

11 December 2024
The New Republic Liberia (Monrovia)

Tajah Village Saving Club is one of the five loan and savings groups in Kinjor that has been benefiting from Bea Mountain Mining Corporation's (BMMC's) Micro loan program for several years. Between 2022 and 2023, the Company disbursed a total sum of one hundred and fifty thousand United States dollars (USD150,000) to the Yellow Painters of Kinjor as a means of livelihoods support. The five groups include Hope for Tomorrow, Kambawamokor, Mutama, Tajah, and Touch One, Touch All benefited from the loan savings package.

The first payment of USD50,000 was made in 2022. The groups received the second payment of USD50,000 (Fifty Thousand United States Dollars) in April 2023 while another disbursement of USD50,000 (Fifty Thousand United States Dollars) was made in August 2023, making a total of USD150,000 (One Hundred and Fifty Thousand United States Dollars). These disbursements were made in the presence of the Ministry of Internal Affairs, Local Authorities, beneficiaries and other stakeholders.

The club officials announced their savings during this year's anniversary celebration and thanked BMMC for supporting them through the micro loan initiative. According to them, the money provided by BMMC has greatly transformed their lives and is making a significant impact in the community. It has enabled some of them to expand their businesses, travel to Guinea and other neighboring countries for business. Beneficiaries are also able to send their children and other relatives to good schools and take care of their daily family obligations. The Company also helps to boost some of these businesses by giving them the opportunity to supply food to some groups and individuals, which is paid for every month.

Members of Tajah Village Saving Club lauded BMMC for this support. They requested to the Senior Management of BMMC to help them build a bigger savings place. According to them, their current savings place is small, and the number of people is increasing.

BMMC's empowerment to women is not only limited to the Kinjor groups, but is extended to other areas. Some women from the Darblo Clan and Matambo Corridor have also been beneficiaries of micro loan through the Darblo Clan Development Fund and the Matambo Corridor Development Fund. For instance, the Darblo Clan Women received USD15,000 (Fifteen Thousand United States Dollars) while the Matambo Women Development Association received the sum of USD27,500 (Twenty-Seven Thousand Five Hundred United States Dollars) in 2023.

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