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The National Commission for Social Action (NaCSA) has partnered with Apex Bank (SL) Ltd. to implement a new Islamic Microfinance initiative aimed at alleviating poverty in rural communities.
The $2.9 million “Wakalah” investment fund agreement was signed on March 7th, 2024 aiming to empower over 17,500 beneficiaries, with a specific focus on rural women.
In his statement, the NaCSA Commissioner, Amb. Ernest Mbaimba Ndomahina reiterated the importance of the Islamic Microfinance subproject in the actualization of the Presidential flagship ‘Feed Salone’ initiative. He further described the scheme as a tool to alleviate poverty among the rural populace with women in specific.
He maintained that the Islamic Microfinance scheme is a realization of the value, which President Bio places on women, adding that, the Islamic Microfinance scheme is therefore a conduit in positioning women at the centre of the Presidential flagship ‘Feed Salone’ initiative.
Ndomahina expressed appreciation to Apex Bank for being the successful institution to implement the scheme and urged the Bank to work hard and to ensure that the intervention succeeds.
The Managing Director of Apex Bank thanked NaCSA and the Islamic Development Bank for the trust bestowed on them and noted that the two institutions share a similar vision towards poverty alleviation among rural people.
Salia-Konneh further assured the Commissioner and team of his bank’s readiness to implement the scheme. He was represented at the Official signing in Kenema by his director in charge Islamic Microfinance scheme, Patrick Dumbuya, who acknowledged their bank’s strength in the area of outreach and competence in rural financing, which are key in the implementation of the Islamic Microfinance scheme.
