NaCSA AND APEX BANK SIGN THE ‘WAKALAH’ INVESTMENT FUND AGREEMENT FOR MANAGEMENT OF THE ISLAMIC MICRO FINACE SUBPROJECT...

NaCSA House,

Tuesday 5th March 2024

The Commissioner of NaCSA, Ambassador Ernest Mbaimba Ndomahina has signed a ‘Wakalah’ Investment Fund Agreement with the Apex Bank for the implementation of the Islamic Microfinance subproject of the Islamic Development Bank and GoSL funded Sierra Leone Community Demand Driven Development (SLCDD II) Project. This comes ahead of the official launching of the scheme in Kenema on Thursday, March 7, 2024.

In his statement, the Commissioner of NaCSA, Amb.Ernest Mbaimba Ndomahina described the scheme as a tool to alleviate poverty among the rural people as it resonates with the agenda of His Excellency the President, Dr. Julius Maada.

The Commissioner congratulated the Apex Bank for being the successful institution to implement the scheme. Commissioner Ndomahina urged the Bank to work hard and to ensure that the intervention succeeds. * "On behalf of the NaCSA Board and Management, I want to encourage you to do your best,”He pleaded.

Nelson Salia-Konneh, Managing Director of the Apex Bank thanked NaCSA and the Islamic Development Bank for the trust bestowed on them and noted that the two institutions share similar vision towards poverty alleviation among rural people. Salia-Konneh further assured the Commissioner and team of his bank’s readiness to implement the scheme.

Over 17,500 beneficiaries are expected to benefit from the subproject.

*For further information on this and other matters, please contact the Information, Education and Communication Unit:* *+23278319419/+23230518539/+23277022709*