By: Fatou Krubally
The Gambia Ports Authority (GPA) on Friday officially handed over the sum of D100, 000,000 (One Hundred Million Dalasis) to the Government of The Gambia as an interim dividend payment, which was described by the GPA’s officials as a significant milestone in the current improvement and transformation of the financial performance of State-Owned Enterprises (SOEs).
The payment, which was drawn from GPA’s 2024 financial accounts, reflects what officials described as a “clear shift from losses to gains” across the SOEs sector.
Speaking during the official handing over ceremony held at the Ministry of Finance and Economic Affairs in Banjul, GPA’s Managing Director, Ousman Jobarteh, branded GPA as a reliable contributor to domestic revenue and attributed it to their laudable performance of 2024 by generating D1.86,000,000,000 of revenue equating 10% in the previous year, and a net profit of D344,000,000 comparing a loss of D97,000,000 in 2023.
He assured that the GPA is still committed to investment in infrastructure and digital transformation, characterised by operational efficiency and effectiveness.
Honourable Seedy Keita, Minister of Finance and Economic Affairs, referred to the interim dividends payment of D100,000,000 to the Gambia Government as proof of gains-making in the current reform program for SOEs by the Government, ‘‘Entities like the GPA are now capable of contributing to the national treasury due to effective supervision and reform coordination,” he asserted.
Minister Keita further recognised and appreciated the hard and effective operations of the management and staff of GPA for what he described as unwavering dedication to fiscal responsibility, and with transparency and accountability, public institutions can serve as reliable partners in national development.
‘‘Just the firing of the first shot,’’ was how the Minister tagged the official presentation of the D100,000,000 in Gambia’s broader economic reform agenda, and reaffirmed the Government’s commitment to maintaining SOEs’ independence and transparency.
Speaking on behalf of the SOEs Commission, Ma’am Cecilia Baldeh, Vice-Chairperson of the SOEs Commission, lauded GPA for its tangible demonstration of financial prudence, as she put it, and that the amount was more than a routine transaction.
“It represents a testament to the steady progress SOEs have made in improving governance, accountability, and fiscal discipline,” she emphasized.
She added that total losses across public enterprises were cut down by half from D2.7 billion in 2023 to D1.45 billion in 2024.
The official presentation of the said colossal amount attracted senior government functionaries, board members, management and staff of GPA, and representatives from the SOEs Commission, culminating in the official presentation of a Cheque for the said amount.
The post GPA Hands Over D100 million Dividends To Government appeared first on .
By: Fatou Krubally The Gambia Ports Authority (GPA) on Friday officially handed over the sum of D100, 000,000 (One Hundred…
The post GPA Hands Over D100 million Dividends To Government appeared first on .
