Deposits for Development

The Deposits for Development scheme is a new socially responsible investment initiative launched on the 18th of April 2007.

Target Market

• Paratastals
• Non-Governmental Organisations
• Embassies & Consulates
• Multilateral Development Agencies
• High Networth Individuals

The Scheme

Institutions depending on their cashflow can elect to deposit a minimum of D250K for a minimum tenor of six months, renewable on expiry. There are four deposit tiers:

• Platinum – minimum deposit greater than D10M
• Gold - deposits between D5M and D10M
• Silver - deposits between D1M and D5M
• Bronze- Deposits of D250K and more

These deposits are then used by Reliance to finance micro, small and medium size businesses in the community.

To meet the Corporate Social Responsibility obligations of depositor institutions, investors are given the opportunity to choose the sectors and groups whose activities align with their corporate objectives and values as priority intervention segments for Reliance. At the end of the investment period, the agreed interest is paid on the investor's deposit, after which there is an option to re-invest in the scheme for another period.

The margins from investor deposits will be used to will also be used to provide free financial and business development training for the recipient businesses.

Benefits

• Hands-on, direct contribution to development.
• Meaningful discharge of your corporate social responsibility objectives, whilst maximizing shareholders’ returns
• Assurances that your contributions go towards development, and the impact of your investments will be tangible (you will receive testimonials from businesses who have benefited directly from this initiative).
• Nationwide recognition, through a displayable Partner in Development Certificate program, notable mention in annual reports and quarterly Reliance Newsletters.

Product Benefits to Customers

• Offers reasonable interest returns
• Positive social impact
• Raises the publicity profile of the institution in the selected community
• Increases customer loyalty
• Helps the customers meet their Corporate Social Responsibility objectives

Benefits for The Gambia and its People

• To support Government and other development role-players in improving the quality of life of the people of The Gambia through the funding of entrepreneurship projects;
• Accelerate the sustainable reduction of poverty and restoring dignity; and
• Promote broad-based economic growth and nationwide economic integration.

How to Enroll?

Please contact the Deposit for Development team on (220) 4390121 .