Gambia’s State-Owned Enterprises Owe Government Nearly D24 Billion, Finance Minister Says

By Fatou Sillah

State-owned enterprises in The Gambia currently owe the government approximately 23.7 billion dalasi ($331 million) through loans extended to support their operations and development, the Minister of Finance and Economic Affairs, Seedy Keita, told members of the National Assembly on Thursday.

In response to a question from the member representing Upper Saloum, Minister Keita said the bulk of these debts stemmed from government on-lending arrangements to public institutions.

“On the institutions, it is mainly the SOEs that owe or are receivable to the state, and the debts result from government on-lending to the SOEs,” Mr. Keita said. “The total lending to the SOEs amounted to $331 million, equivalent to 23.78 billion dalasi.”

Among the principal entities with outstanding debts are the Gambia Civil Aviation Authority (GCAA), Gamtel, and the National Water and Electricity Company (NAWEC), which receive government funds under structured lending agreements.

“Principal entities are GCAA, Gamtel, and NAWEC, and those are the sustainable energy service companies. When you add the total of that, it comes to about a total of $331 million,” the minister noted.

Mr. Keita also highlighted that the government is owed funds by individuals who have failed to return public money issued as imprests, totaling roughly 18.7 million dalasi.

A third category of receivables involves favorable court judgments for the government. However, Mr. Keita said details could not be disclosed, citing ongoing negotiations and nondisclosure agreements managed by the Ministry of Justice.

“The details cannot be shared at this stage because, as part of the negotiation process, a nondisclosure agreement was arrived at, but the Ministry of Justice is handling this file,” he said.

The minister emphasized that these court awards are considered contingent assets and cannot be included in official government accounts until settlement agreements are finalized.

“You know court awards are contingent assets, and you do not count them up front until settlement and agreement have been signed,” he explained.