COUNTRY FACTS

 

 

Location: Banjul, The Gambia
 
Region: Coast of West Africa
 
Neighboring Countries: Senegal
 
Population: 1,688,359
 
GDP Per Capita (PPP): $2,000 (2006 est.)
 
Politics: Presidential republic
 
Economy:

  • GDP Growth: 5.3% (2006)
  • Composition of GDP: Agriculture (75%), Services (6%) and Industrial Sectors (19%)
    • 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
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 YTD *

Net Loans Outstanding (in mil)

$2.3

Total Deposits (in mil)

$2.7

Return on Average Assets

(15.6%)

No. of Borrowers

477

No. of Depositors

6275

No. of Branches

1+6

No. of Employees

50

No. Development Loans

 

- Year to Date

477

- Cumulative

477

Fx Rate (GMD/$):

19.3

 

N/A - Not Applicable
NA - Not Available

*Reliance began operations in February 2007.

 


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