Yonna Islamic Microfinance, established in April 2021, stands proudly as the first full-fledged Islamic microfinance institution in The Gambia. Its operational journey commenced in June of the same year, with its initial branch situated at Tippa Garage, Bakoteh. In just two and a half years, Yonna Islamic has achieved unprecedented growth, expanding its network to 12 branches across the country. The organization’s remarkable expansion includes a presence in five different locations in the interior, aligning with its core objective of achieving financial inclusion for every Gambian.
- Mission and Vision: Bridging Gaps, Empowering Lives
Yonna Islamic Microfinance is driven by a compelling mission and vision. Its overarching goal is to become the microfinance choice for every Gambian, transcending barriers of race, religion, and geographical location. The institution envisions a Gambia where financial services are accessible to all. The essence of its mission is encapsulated in the commitment to financial inclusion, striving to bring essential banking services to every individual within the nation.
- Product Offerings:
Yonna Islamic Microfinance offers a comprehensive range of products catering to various financial needs. The product categories include Savings, Current, and Investment accounts. Under Savings, Yonna provides specialized accounts such as Maborro, Dajalleh, Child Savings, Diaspora, and Hajj and Umrah accounts. Current accounts encompass Safaro (Business and Corporate) and Salary accounts. The institution’s Investment Accounts are divided into Restricted Mudaraba Investment and Unrestricted Mudaraba Investment. This diversified product portfolio reflects Yonna’s commitment to meeting the diverse financial requirements of its clientele.
- Financial Inclusion: A Core Objective
Recognizing that financial exclusion among adults in The Gambia stands at a significant 81%, Yonna Islamic Microfinance is on a mission to transform this narrative. The institution’s strategic expansion into the interior regions is a testament to its dedication to achieving widespread financial inclusion. Empowering women and Micro, Small, and Medium Enterprises (MSMEs) takes precedence in Yonna’s business ideology. The belief that successful empowerment translates into a successful business model underscores its commitment to fostering economic independence.
- Technological Advancements: Embracing Fintech
In tune with the current trend in business sectors, Yonna Islamic Microfinance recognizes the importance of technological advancement. Fintech integration has become a focal point, and Yonna is keen on being a trendsetter. The institution has embraced digital banking, offering a seamless platform for various financial transactions. The Yonna app, easily accessible online, allows users to check statements, transfer funds, and make purchases such as Cashpower (energy) and airtime, eliminating the need for physical queues.
- Key Leadership Profiles: Expertise Driving Success
The leadership team at Yonna Islamic Microfinance comprises seasoned professionals with extensive experience.
- Yankuba Mamburay, the Managing Director, is a renowned author who brings over 30 years of experience in banking & finance, development, energy, and academia, holds a master’s degree in business administration (MBA).
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Yankuba Mamburay, Managing Director of Yonna Islamic Microfinance - Lamin Sisawo, Deputy Managing Director, has over 10 years of experience in banking and academia, currently pursuing a master’s degree in Islamic finance.
- Musa Nasso, the Head of Risk, boasts more than 20 years of experience, combining academia and banking, with an MSc Business administration.
- Lamin S. Camara, the Head of Shariah, contributes 12 years of expertise and holds a master’s degree in Islamic finance.
- Saikou Jobe, Head of Internal Audit, holds 22 years of experience with CAT Certification and Diploma in Auditing
- Abdou O. Camara, Customer Service Manager and Overseer of Business Development, holds a master’s degree in Islamic finance with over four years of experience.
- Aminata Badjie, Head of Operation, has over 20 years of banking experience with a BSc degree.
- Fabakary Minteh, Head of Finance, brings 26 years of accounting industry experience and holds an MSc in international banking and finance.
In conclusion, Yonna Islamic Microfinance stands as a beacon of financial inclusion and innovation in The Gambia. Its growth, diverse product offerings, commitment to empowerment, embrace of technology, and experienced leadership collectively position Yonna as a catalyst for positive change in the nation’s financial landscape. Through its mission and vision, Yonna Islamic Microfinance is not merely an institution; it is a driving force for socio-economic progress in The Gambia.
