AGIB Bank Begins Payment to Groundnut Farmers Following Government Debt Settlement

By Haddy Jarju

The Arab Gambia Islamic Bank (AGIB) has commenced the payment of cash to groundnut farmers in the North Bank Region. This development follows the disbursement of D500 million by the government to settle its debts with the farmers.

The Gambian government took swift action to address the issue of delayed payments to peanut farmers after an emergency meeting convened by the head of state. The funds were disbursed to clear outstanding debts owed to groundnut farmers.

READ MORE: NFSC Settles D500m Debt to Gambian Farmers

In interviews with Star TV, farmers – Adama Sillah and Demba Sene, expressed their satisfaction with the government’s efforts to address the payment delays. Adama Sillah remarked, “I am very delighted with this year’s price of groundnut compared to last year.”

Demba Sene echoing similar sentiments, expressed delight upon receiving the payment, emphasising the importance of farming for their families.

However, despite the government’s disbursement of payments, some farmers are still facing challenges with the speed of the payment process.

Dawda Kuyateh, also a farmer, highlighted this issue, stating, “We still face challenges despite this year’s groundnut price because I stayed for two months without receiving any payment for the groundnut I sold to the government. This is also a worrying issue for some of us.”

Many farmers credited the unprecedented harvest of groundnut this year to the quality of fertilisers provided by the government. Additionally, specific seccos, such as Illiasa Secco and Minteh Kunda Secco, received allocated funds to settle outstanding debts and make new purchases in 2024.

The D500 million disbursement is set to cover all seccos across the country, providing financial relief to groundnut farmers and contributing to the stability of the agricultural sector.