COUNTRY FACTS

Location: Banjul, The Gambia

Region: Coast of West Africa

Neighboring Countries: Senegal

Population: 1,700,000 (2007 est.)

GDP Per Capita (PPP): $1,317 (2007 est.)

Politics: Presidential republic

Economy:

GDP Growth: 7% (2007)
Composition of GDP: Agriculture (32%), Services (59%) and Industrial Sectors (9%)
- Main Agricultural Products: Rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels, cattle, sheep and goats
Significant Trading Partners: EU, UK, Japan, Hong Kong, and Senegal

Source: Wikipedia
To learn more about The Gambia, please click here

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Client Banks / Reliance Financial Services, The Gambia

Reliance Financial Services, The Gambia

Website: http://www.reliancegambia.com

Bank Description:

Reliance is a greenfield institution and The Gambia’s fifth non-bank financial institution (NBFI). The company was granted a provisional license by the Central Bank in May 2006 with the official launch of the bank later that year. Reliance’s mission is to democratize financial services by making financial products widely and easily available to all Gambians, irrespective of their socio-economic status and geographic location. Reliance has a double bottom line objective, with profitability and development impact playing complementary roles towards the achievement of its mission.

Reliance offered its first loan in February 2007 and has since expanded to a wide range of savings and loan products as well as money transfer services and foreign exchange transactions. The institution serves its clients from one main office in Banjul and a network of innovative kiosks located in high-traffic market areas. At least 70% of Reliance’s loan portfolio by volume is expected to consist of loans provided to small businesses, micro entrepreneurs, or low-income individuals.

Capacity Building

Man Shorecap Exchange Capacity Building Support Areas:

Individual micro and small business lending functions
Credit operations
Marketing research and analysis support
Branch operations
Management Information Systems
Internal audit
Savings mobilization
Strategic Planning

Key Accomplishments in Partnership with Exchange:

Development of individual micro and small business credit function
Strengthening of overall operations

Exchange KEN Participation

Effective Branch Management: The Key to Growth, Chennai, India, March 2009

Leveraging Human Capital for Performance and Growth HR Forum, Luxembourg, Luxembourg, May 2008

Risk Mitigation Strategies for Fast Growing Banks Forum, Johannesburg, South Africa, June 2007

Effective Leadership & Good Governance Forum, Washington D.C., September 2006

Risk Management Forum, Chicago, IL, December 2004

HR Managers Phone Forums

Lender’s Corner Phone Forums

CEO Phone Forum

Site visit to ShoreBank to understand the small business banking operations and review some of the branch and control mechanisms used by ShoreBank

Site visit to MB Financial, a private Chicago-based bank that showcased its products for immigrant communities.

Peer Learning Visits to K-Rep Bank and Equity Bank

Financial Performance Table

Financial Performance	2007	2008
Net Loans Outstanding (in mil)	$2.5	$2.4
Total Deposits (in mil)	$3.5	$4.5
Return on Average Assets	(8.5%)	(11.4%)
No. of Borrowers	574	2,187
No. of Depositors	8,825	24,098
No. of Branches	7	26
No. of Employees	72	126
No. Development Loans
- Year to Date	624	2,271
- Cumulative	NA	NA
Fx Rate (GMD/$):	23.3	25.8

N/A - Not Applicable
NA - Not Available

*Reliance began operations in February 2007.

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