Tuesday, April 20, 2021
Home News National News GPA Pays D50 Million Dividend to Government

GPA Pays D50 Million Dividend to Government

By Ousainou J. Sawaneh (PrinCE OjeE)
The State Owned Entity, Gambia Ports Authority on Friday, 19th March 2021 paid a cheque of D50 million dalasi as a dividend to Gambia Government for the year ended 31st December, 2019. The ceremony was held at the Ministry of Finance and Economic Affairs in Banjul.
Presenting the cheque on behalf of the GPA and its Board of Directors, Hon. Minister of Transport, Works and Infrastructure, Bai Lamin Jobe expressed delight, saying this is a clear indication that the GPA Management and the Board of Directors are effective and efficient in delivering on its mandate. He said despite persistent challenges such as Covid-19 pandemic and constraint on infrastructure, the GPA Management has proven efficient.
Minister Jobe said the monies will accelerate governments’ efforts in planning revenue estimates and expenditure.
Speaking on behalf of the Government as he receives the cheque, the Minister of Finance and Economic Affairs, Hon. Mambureh Njie recognised and acknowledged the Gambia Ports Authority Management and Staff, for their contribution to the financial achievements of the Authority.
The minister reiterated that he strongly recognized the great reform strategies that the GPA entered in attaining sound and effective institution thus is Central to raise funds and improve accountability to primary shareholders in government; and to citizens as the ultimate beneficiaries.
Njie said his ministry has factor into the National Budget under the Revenue forecast, adding dividend revenue line-item expected from State -Owned Enterprises is used for provision of basic services to citizens which are not recorded on the national budget.
He disclosed that plans are underway to enter into a Public Private Partnership (PPP) in order to achieve some of the capital investment or project as enshrined in the GPA ‘Master Plan.’
He commended the GPA management board for being the only SoE that is able to contribute expected revenue sharing to it’s government of an amount of 50; 000; 000.00 (Fifty Million Dalasi).
Indeed; this will greatly assist The Government of The Gambia in executing the budget based on plan revenue and plan expenditure respectively. “My Ministry would like to thank GPA board and management for exceptionally doing well in terms of revenue generation and profits maximization. The company recorded Net Profit after Tax of from their financial statement and this has also led to an increase of shareholding dividends on year to year comparison;” he said
Babucarr Sarr Chairman GPA Board of Directors, according to the him, the purpose of the meeting was to show the government the results on what the Gambia Ports were able to achieve and able to give back to the Government in return of their investment for the year 2019.

- Advertisment -

Most Popular

“The Hopes of Diasporas Voting is killed’’ Yakumba Jiateh

By Almamo Kamaso The Chairman of the Independent Electoral Commission (IEC) the body mandated by law to organize elections told members of the National Assembly...

Was it a Deliberate Act to Disfranchised Citizen living Abroad?

It is very likely that our brothers and sisters living in the diaspora will not be able to take part in the coming electoral...

Hon Alhagie .S. Darboe Warns Against Illegal Registrations

By Almamo Kamaso Speaking at a political meeting in Barrow Kunda in the Wuli west Constituency over the week-end, Hon Alhagie S. Darboe strongly...

Gambia’s Voter Cards is for Gambians Only

The Gambia is heading to the polls for the Presidential elections in December 2021, and then that will be followed by parliamentary elections April...