The Binda Foundation Liberia on Wednesday, December 4, 2024 begun disbursing an L$7 million to over 250 rural women across Gbarma and Kongba Districts.
The ceremony took place at the Gbarma District Administrative headquarters, where community members, local authorities, and beneficiaries gathered to celebrate a transformative initiative aimed at boosting the economic prospects of underprivileged women and their communities.
The Country Director of the Binda Foundation, Prince Vongbor, expressed enthusiasm for the project, stating, “Today is a good day for the people of Gbarma and Kongba Districts. Today, we are transforming the lives of residents through micro-finance loans. We are excited that this day has finally come; it has long been anticipated.”
The Binda Foundation Country Director said it is not just about disbursing loans; it is sowing the seeds of opportunity, resilience, and hope for a brighter future as communities of Gbarma and Kongba Districts celebrate this momentous occasion.
“Our action here today is part of our Chief Executive Officer, Stephen Binda Sr. broader mission to empower women and improve citizens livelihoods, especially in rural areas where access to financial resources is often limited,” Vongbor said.
Benefiting towns include Gbarma, Karnley Town, Sawmill, Zuo, Wealiqua, Yarngayah, N’jaboi, Vaye Town, Parker’s Town, Hilton, Dodee, and Beatoe Towns, among others while local authorities, including the District Commissioner Special Assistant Bruno Wenta, were present at the event, underscoring the significance of this moment for the community.
“Binda Foundation is transforming lives and we are thankful as District authorities,” Wenta expressed adding, “We welcome these efforts for our people and we hope that others out there including leaders can emulate the good example of the Binda Foundation.”
At Wednesday’s event, beneficiaries expressed heartfelt gratitude to the Binda Foundation, describing the loan distribution as timely and crucial for their economic survival. Mary Moore, a single mother and aspiring entrepreneur, shared her joy: “My son, we don’t know how to thank the Binda Foundation enough. We are suffering here. We want to do business but have no money. Our elected representative doesn’t have time for us since he got elected. But with the support of the Binda Foundation, tomorrow I will be commencing my business. I’m so happy. Only God will bless the foundation and all those behind it.”
The Binda Foundation, established in 2020, has steadily worked to uplift the lives of Gbarpolu County residents through various initiatives focused on health, education, media development, and economic empowerment.
This latest micro-finance program is just one of the many efforts the foundation has undertaken to address the pressing needs of the community.
Emerging as a response to the myriad challenges facing rural communities in Liberia, particularly in Gbarpolu County and recognizing the dire need for sustainable development and empowerment, the foundation set out to create a positive impact through a multifaceted approach, focusing on health, education, and economic opportunities.
From its inception, the Binda Foundation has been committed to investing in the community.
The foundation’s founder, inspired by his own experiences growing up in similar circumstances, aimed to bridge the gap between the underserved and the resources necessary for self-sufficiency.
Since its establishment, the Binda Foundation has implemented several notable initiatives that have positively impacted Gbarpolu County residents ranging from free medical assistance to residents, school supplies to students and local schools.
The foundation has invested in local media initiatives to promote community voices and issues.
By providing resources to local radio stations, the Binda Foundation has facilitated greater communication and information dissemination within the community.
Prior to the micro-finance loan program, the foundation organized skills training workshops for women groups to equip participants with practical skills that could lead to self-employment and income generation.
Micro-finance has proven to be a powerful tool for poverty alleviation and economic development, particularly in rural areas.
The Binda Foundation’s L$7 million loan distribution is expected to have a significant impact on the lives of the beneficiaries.
By providing women with access to capital, the foundation is empowering them to start or expand their own businesses.
This not only enhances their financial independence but also contributes to the overall economic growth of Gbarma District.
As women begin to earn income, they can invest in their families’ education, health, and overall well-being, creating a ripple effect that benefits the entire community.
Moreover, the initiative aligns with global efforts to promote gender equality and women’s empowerment, recognizing that when women thrive, communities thrive.
The Binda Foundation’s commitment to this cause is commendable and sets a precedent for other organizations to follow, according to Gbarma District Commissioner Special Assistant Bruno Wenta said.
Looking ahead, the Binda Foundation has ambitious plans to further its impact in Gbarpolu County.
In 2025, the foundation aims to officially open a youth center in Gbarma District.
This facility will serve as a hub for training and education in computer technology and various vocational skills.
By equipping the youth with essential skills, the foundation hopes to prepare them for the job market and foster a culture of entrepreneurship among young people.
The establishment of the youth center is a testament to the foundation’s long-term vision of creating sustainable opportunities for the next generation.
It reflects a commitment to not only addressing immediate needs but also investing in the future of Gbarpolu County.
Through its various initiatives, the foundation has demonstrated its commitment to improving the lives of Gbarpolu County residents.
As the beneficiaries embark on their entrepreneurial journeys, they carry with them the hope and support of the Binda Foundation, which has become a beacon of hope for many in the region.
With plans for continued investment in youth and community development, the Binda Foundation stands poised to make greater impact in the years to come.
