March 31, 2017 By Ibrahim Tarawallie
Mankind’s Activities for Development Accreditation Movement-Sierra Leone (MADAM-SL) has commenced ten- day training in financial education and Business development for some two hundred and thirty six (236) women .
The training is currently taking place simultaneously in the Safroko Limba, Makari Gbanti, Lebisigahun, Konikay Sanda and Masingbi chiefdoms, Bombali and Tonkolili districts respectively, with participants expected to know the banking procedures and processes of Apex Bank.
Livelihood Officer of MADAM-SL, Mohamed Koroma, stated that the training was under their “Women Economic Empowerment and Business Development (WEBD) project, and was aimed at giving beneficiaries the leverage to share common entrepreneurship challenges and find possible solutions to solving them.
He said during the course of the training, the skills and knowledge of beneficiaries would be enhanced on how to improve their financial education, as well as improving their business management skills in line with the Lasting Change Fund (LCF).
“We decided to organize such a training to capacitate beneficiaries in order to effectively and efficiently manage the Lasting Change Fund (seed capital). This training will give them a clear understanding on the use and management of the LCF in order to be able to control and manage businesses in line with their business plans, thereby becoming better entrepreneurs,” he noted.
Mr. Koroma explained that in 2015, with support from CARE-SL, they launched the WEBD project with the aim of identifying and capacitating woman entrepreneurs at community levels and that immediately after the launch, an intensive training in designing smart business plans was held where participants were asked to develop business plans which they will fund.
“About one hundred business plans were put forward, including eighty-four individual plans and sixteen groups. When the plans were sent to our donors in the Netherlands, twenty-five from the lot were accepted for funding,” he said.
He urged beneficiaries to make the best out of the opportunity accorded them in order for their colleagues to stand a chance of benefiting from the project.
On his part, the Project Officer for the WEBD Project, Muhammad Sahr Komba said CARE-SL implement projects through their partners, which was why they were able to identify MADAM-SL to implement the WEBD Project.
“Based on the successes we made through the Village Savings and Loan initiative introduced in the targeted communities, we have been able to transform it into an entrepreneurship project with more benefit accorded to beneficiaries”.