Liberia: Microfinance Chairman Promises More Capacity Building

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Liberia, April, 12 2015 - The newly elected chairman of the Network of Microfinance in Liberia (NEMIL), Rev. Steve N. Gaye, has promised to focus on capacity building of member institutions, including seeking national and international support for the network.

Speaking over the weekend during the Network's special elections, held at Market Place in Monrovia, Rev. Gaye said his leadership will ensure that all members are supported, as capacity building is key to the survival of the network.

"We will also create training opportunities for members of the network to help make them vibrant financial institutions," said Rev. Gaye.

"Microfinance needs investment, requires technical skills and the education of all of its members by means of attending workshops on time and being briefed by experts. That will be the new position of the network," said Rev. Gaye, adding that

"All members will know what they are doing and writing, including reading financial statements," he stressed.

Said Gaye, "We will also focus on developing cordial relationships between the network and government agencies, seeking national and international assistance that will build the network and ensuring that we provide the necessary services needed by the people."

He noted that the issue of capacity building, particularly education of its members was one

of the key problems faced by the network over the years.

The vice chairman of the Network, Mother Betty Sharpe from SHOCAS, said the organization has been working with people with disabilities over the last ten years.

The issues of transparency and accountability will also be prioritized in order to overcome the stigma that 'Liberian people can credit but cannot pay'.

"We need to graduate from taking the money and investing in things that are outside which are not part of the intended purpose," she said, "Unity can also help us in living up to our statements and paying back the money."

She promised that the leadership of the Network would denounce the issues of 'I, me, and myself,' but reach out to Liberians who are in need.

In her remarks, the observer and senior secretary of the Microfinance and Financial Inclusion Unit, Central Bank of Liberia, Selina M. Keagon, said she was impressed by the outcome of the elections and hoped that the leadership will work in the interest of its members.

"We believe in good leadership structure and want to encourage you to work together for the improvement of the microfinance sector of the CBL," Mrs. Keagon admonished.

She said microfinance is one of the units the CBL is working closely with and believes that the new leadership will take NEMIL to a higher level.


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