The ROOTS Project today signed a landmark Memorandum of Understanding (MoU) with two Microfinance Institutions — The Gambia Teachers Union Cooperative Credit Union (GTUCCU) and Bayba Financial Services — at the Project Head Office in Abuko.
This partnership establishes a collaborative framework to support timely and accessible financing for Farmer Organisations (FOs), enabling them to fully leverage the Matching Grant opportunities under the ROOTS Project. The financing of counterpart contributions will continue into future rounds, in line with agreed terms and conditions.
Speaking at the ceremony, Mr. Gillen, ROOTS Matching Grants Expert, expressed his delight that after a long journey of discussions, the agreement has finally been sealed.
ROOTS Project Director Mr. Mamour Alieu Jagne thanked both institutions for their confidence in the agricultural sector, noting that many financial institutions remain hesitant to invest in agriculture despite its immense potential.
On behalf of GTUCCU, Mr. Galie Cham conveyed appreciation to the ROOTS Project for facilitating this opportunity and emphasized GTUCCU’s full capacity to finance the required business plans. Mr. Lamin Bojang of Bayba Financial Services also reaffirmed their commitment, highlighting Bayba’s readiness to capitalize on the partnership for the benefit of farmers.
This MoU marks another strong step forward in empowering farmers to access finance, grow their agribusinesses, and drive sustainable development across The Gambia.