Thursday, May 28, 2020

GPA Pays Dividend to Government

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By Fatoumatta K Jallow 

The Gambia Ports Authority (GPA) through its Management Board, on Monday 17th September 2017, paid a cheque amounting to D5M to Government, as dividend.

Speaking at the presentation held at VP’s office in Banjul, GPA’s Board Chairperson Alpha Barry, expressed gratitude to be associated with the official handing over of the payment of dividend by the GPA to Government, in the sum of D5 Million, for the financial year 2017.

According to Barry the dividend is made against the background of the new political dispensation, following the democratic change of Government, after 22 years of dictatorship and economic mismanagement; that the Gambia is enjoying a lot of goodwill from the International Community, following the democratic change of Government in December 2016. Barry said cargo volumes have registered steady growth on an annual trend and record achievement was realized in December 2017, compared to 2.1 million in 2016, representing 16% growth; that container volumes have increased by 12% from 93,000 in 2016, to 105,000 in December 2017; that the growth in traffic is also accompanied by corresponding increase in revenue, generated as the profit after tax for 2017; that all indications are, that GPA will double its profit 2018.

According to Barry, despite these achievements, GPA continues to grapple with numerous challenges, ranging from the need to acquire additional land area for expansion, jetty extension and acquisition of cargo handling equipment.

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In receiving the Cheque on behalf of Government, Vice President Ousainou Darboe applauded the dividend payment to Government, by the GPA; that this shows Government has gained twice, from the operations of the Ports Authority that the GPA Board needs to be congratulated, for shaping the right policy and giving the right direction to Management. The Vice President further commended the GPA board for their wise policies in close collaboration with the GPA management; that the Port in Banjul will be more profitable considering its geographical location.

The delegation was led to the Vice President Office by the permanent secretary ministry of Finance and Economic affair Mod K. Ceesay, and the team comprises Ousman Jobarteh MD GPA, Board chaired GPA, Muhammed Jagana business entrepreneur, among others.

The presentation was chaired by the Permanent Secretary at the Ministry of Finance and Economic Affairs, Mod K. Ceesay.      

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