Gambia interested in surveillance of Seychelles’ state-owned companies

Banjul, the capital of Gambia, the smallest country on the African continent (Bjørn Christian Tørrissen) Photo License CC-BY-SA 3.0

Photo License

(Seychelles News Agency) – The Gambia will seek to implement a number of points learned from Seychelles in the establishment of its own commission which will oversee the country’s state-owned enterprises (SOEs).

This comes after a 10-member delegation from The Gambia recently paid a visit to the island nation, the purpose of which was to learn from the experience of the island state Public Enterprise Supervisory Commission (PEMC).

On Friday afternoon, the delegation, accompanied by the CEO of PEMC, George Tirant, met the media, to give details of the visit, where Abdoulie Jallow, Permanent Secretary at the Ministry of Finance and Economic Affairs of The Gambiaexplained that they have identified a number of things that will help them.

“What we have noticed is that in Seychelles the level of compliance of these SOEs is very high, which shows good oversight, while the SOEs are also profitable, which is what we want to see in The Gambia. “, said Jallow.

He added, “If supervision is weak, it will affect the performance of SOEs and affect their financial capacity, which is why they need to ensure that they are performing according to expectations.”

The creation of a commission to oversee state-owned enterprises in The Gambia is expected to come after the country’s Truth, Reconciliation and Reparations Commission recommended that the government propose new legislation to oversee state-owned enterprises.

“These recommendations are part of a number of reforms undertaken in the country since 2016, as part of efforts to stabilize the country,” Jallow added.

The Gambia has 13 SOEs and they have been pointed to Seychelles by the International Monetary Fund (IMF) as the country they could learn from, as a role model in SOE oversight.

PEMC CEO Georges Tirant explained that this is not the first time that PEMC has been visited by other nations who want to learn from them, where he said such recommendations from the IMF are a testament to the work that they do to ensure local security. SOEs are functioning at an acceptable level.

“We also recently had a team from Eswatini meet with us virtually, with the aim of learning from us, but this visit is not a one-way street as we can learn from them as well,” Tirant added.

Compared to The GambiaSeychelles currently has 27 public companies and the delegation also visited some of them, to see their operations, while meeting with the office of the auditor general and the procurement control unit.

The Gambian delegation will now work on the project for the creation of its commission, which it will shortly present to the National Assembly for approval.

Comments are closed.