By: Foday Manneh
President Adama Barrow, on Tuesday, February 7, 2023, signed a performance contract with the Gambia’s state-owned enterprises at a ceremony held at the State House in Banjul.
The entities involved are the Gambia Ports Authority (GPA), the Gambia National Petroleum Corporation (GNPC), and the Social Security and Housing Finance Corporation (SSHFC).
The initiative, which was spearheaded by the Ministry of Finance and Economic Affairs, is meant to overcome the challenges of post-losses by the said entities and drive towards strengthening their operations and performance.
Speaking at the signing ceremony held at the State House, President Adama Barrow said the contracts are designed to challenge SOEs and spell out the roles they are expected to play to achieve the objectives and targets set for them.
“They must ascertain that SOE performance and results are closely and rightly monitored and measured. In addition, the contracts are to guarantee to establish a strategic framework for accountability and effective communication between the Enterprises and their stakeholders,” he said.
The President added that his government is committed to solving the trouble of ineffective SOE oversight, which has contributed to the current low-performance levels of some public enterprises.
While urging all ministers, board members, and management to view and appreciate these contracts from a positive perspective, Barrow also challenged public institutions to deliver on their mandates in the most efficient, effective, and transparent manner in the realization of the collective goals as a nation.