By Prince J Musa in Kenema
Officials of Small Medium Enterprise Development Agency (SMEDA) under the Munafa Fund are touring various parts of the country to engage recipients of the scheme and the general public about its status so far.
Speaking at their regional office in Kenema, the Chief Executive Officer of SMEDA, Shiaka Sannoh said since the Munafa fund was launched by President Julius Maada Bio in March this year, a lot of successes and challenges have been experienced .
“This money is not given based on political party connection or ethnic line but to business people,’’ he said.
He said 10 Financial Service Providers (FSPs) have since disbursed 24.8 million Leones across the country, with a total of 4,639 business people having benefited from the micro credit scheme as of 30th June 2021 based on the reports presented by the FSPs. The CEO noted that of that figure, 3,500 representing 80% are women and believed the intervention of this scheme to assist women has been achieved.
Sannoh said people are complying with the loan agreement as they are cooperating with the service providers, which could see the money given to other business people and the scheme spreading out.
He said for Kenema district, four hundred people were expected to benefit but more have received the loan.
He somehow expressed dismay over the action of the Traders Union in Kenema as its been alleged that they were collecting monies from traders on pretense of them securing the munafa fund, a bad practice that he said prompted them to contact the Anti – Corruption Commission to probe into the matter. He warned that nobody should take a single cent from traders.
The regional Public Relations Officer, Traders Union East, Allie Lenoh thanked the management of SMEDA for the support given to traders in the region though he said more traders are yet to benefit from the scheme .
The Manager of Eco-Bank Micro –Finance (one of the FSPs in Kenema), Augustine Sellu described the project as one of the most successful ever that stand to impact the lives of Sierra Leoneans and make more money to circulate in the country.
Salieu said the money was given to those who were screened and verified to ensure transparency. He expressed delight that the people are making progress in their trade and are complying.
The Regional Manager of SMEDA, Festus Mbayo, assured the business people that, their presence in the region is to serve them and that all concerns related to the Munafa fund should be directed to their office.
He stated that there has been a lot of misinformation and allegations over the management of the fund but however affirmed that those allegations are baseless and unfounded.
One of the beneficiaries of the loan scheme in Kenema, Betty Sandi a palm oil seller said the fund has helped to develop their businesses and support their families and therefore called on her colleague women that have benefited from it to utilize it properly.
She thanked government for the support given to business people and hoped others will get theirs shortly.
Milton Dassama, a civil society activist told the gathering that they are pleased with the data presented and however recommended for more media engagement so that the public will know how the fund is being utilized.
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