Thursday, 7 July 2011
Wednesday, 6 July 2011
Pandemonium Emerges As GPU Holds Congress, Elects New Executive
After several months of postponement, the Gambia Press Union – the umbrella body for journalism in The Gambia – at long last went to the poll on 26 June amid a controversial political firmament to elect a new executive that will maneuver the affairs of the union for the next three years.
But as the union heads to poll, claims and counter-claims surfaced about the position of the president. In a situation like that day, one can stand and say ‘the media is a hotbed for political propaganda’. However, as ‘result- oriented journalists’ of this small and neo-liberal country, the matter was not allowed to dwindle or shake the membership of the union. “It is one of the best congresses I have ever seen and attended,” says one senior journalist. The media is changing the world, and this is why MEDIAREVOLUTION matters in a society where information is kept close to ones chest. People nowadays tend to cling to power in the wake of political turmoil fomented by ideological cants that may rivalry among voters. However some lack the sparkle and sophistication to rally the vote they need, and this has made the voters to question some of the candidates about their appetite for politics.
The polls went peaceful and free from rigging, but what will be the fate of the union in the next three years? No one knows!! What is paramount to note, is the fact that ‘what brought together the union is more powerful than what may fall-off it’. In order words ‘It is the past that brought all unionists together, but let them [the unionists] not allow the past to take them to the past.’
Elections were held and winners emerged, not in a form of gerontocracy, but liberal democracy- where majority carries the vote. In unions like the GPU, which has to cope with rapid metamorphose, the decreased faculties of the aged can potentially be a handicap in providing effective leadership. This is why gerontocracy would have been a disaster if the GPU should have gone by it.
But as the union heads to poll, claims and counter-claims surfaced about the position of the president. In a situation like that day, one can stand and say ‘the media is a hotbed for political propaganda’. However, as ‘result- oriented journalists’ of this small and neo-liberal country, the matter was not allowed to dwindle or shake the membership of the union. “It is one of the best congresses I have ever seen and attended,” says one senior journalist. The media is changing the world, and this is why MEDIAREVOLUTION matters in a society where information is kept close to ones chest. People nowadays tend to cling to power in the wake of political turmoil fomented by ideological cants that may rivalry among voters. However some lack the sparkle and sophistication to rally the vote they need, and this has made the voters to question some of the candidates about their appetite for politics.
The polls went peaceful and free from rigging, but what will be the fate of the union in the next three years? No one knows!! What is paramount to note, is the fact that ‘what brought together the union is more powerful than what may fall-off it’. In order words ‘It is the past that brought all unionists together, but let them [the unionists] not allow the past to take them to the past.’
Elections were held and winners emerged, not in a form of gerontocracy, but liberal democracy- where majority carries the vote. In unions like the GPU, which has to cope with rapid metamorphose, the decreased faculties of the aged can potentially be a handicap in providing effective leadership. This is why gerontocracy would have been a disaster if the GPU should have gone by it.
Tuesday, 5 July 2011
Gambia Holds National Economic Summit With Heavy Eye on Agric., Insurance, Informal Sectors
The government of The Gambia under the ministry of Trade, Regional Integration and Employment in collaboration with the Gambia Chamber of Commerce (GCCI), UNDP, Gambia Growth and Competitiveness Project (GCP), and GIEPA held the third long-awaited economic summit with the chosen theme; 'Developing the productive sectors to accelerate growth and employment in The Gambia'.
Held yesterday at the Kairaba Beach hotel, the two day summit which was attended by development partrners, senior government officials, NGOs among others mainly focuses on the agricultural, insurance, and informal sector of the economy.
It comes at a better time when the government of the Gambia is in its toe developing a new planning framework - Programme for Accelerated Growth and Employment (PAGE) - which according to president Jammeh focuses on "growth and employment".
President Jammeh was speaking through the vice president, Dr Isatou Njie Saidy, when he cited the relevance of the summit, saying "The importance of productive capacities for economic growth and employment with consequential impact on poverty reduction is evident in the development experience of developing countries which have managed to achieve sustained and substantial poverty reduction over the last 30 years."
For him: "The under-development of productive capacities is the missing link between the expanding international trade which many LDCs [leased developed countries] have achieved in recent years. The over-dependence on a few primary commodities for our export earnings is part of the reasons for the vulnerability and instability of the economies of most LDCs. Consequently, our economies remain fragile due to their excessive vulnerability to various shocks, and this could be arguably linked to our weak productive and supply capacities."
For the NGOs, private sectors, and others, he called: "We must therefore come together to build a genuine partnership that would enable us to face the daunting challenges of socio-economic development." Whilst he echoed his popular calls for Gambians to override the development of the country, he was not hasty to say "I must emphasise that the development of this country cannot be anchored on the benevolence of others." He could not have said more than this; "We must look within and make maximum use of our available resources human, material and financial."
Abdou Kolley, minister of trade, regional integration and employment underlined his hope for fruitful outcomes, noting that the outcomes of the summit would be a tool for accelerating growth, reduce poverty and create further employment.
He highlighted the positive outcomes of the last economic summit which was held in 2003, while cautioning that this summit would not be a talk-shop. For Kolley, eight years ago, the central theme of many fora were availability of basic facilities such as electricity, telecommunications etc, and saying the focus now graduated to more on "affordability". Citing the ACE fibre cable on the pipeline for making internet affordable, available and accessible, Hon Kolley said internet access will enhance in coming years.
Bai Mattar Drammeh, GCCI president emphasised on the importance of the agricultural, insurance and informal sector, saying the three sectors play a vital role in the economy and key growth areas. For agriculture he explained that there are 49 LDCs with a population of more than 800 million people, who represented the poorest and most vulnerable segment of humanity and are at the very epicentre of development emergency. He observed that international trade market opportunities are also changing, with growing integration of global agricultural supply chain and the emergency of large economies.
As regards insurance, he said this sector is considered an infrastructural pillar of the financial services sector and the economy. "Insurance companies form a growing part of the domestic financial sector and closely linked with macroeconomic factors such as inflation, currency, controls, and the national income. Speaking further, Drammeh said insurance improves individuals' quality of life and increases social stability by way of individual health and life insurance, pension funds and workers compensation.
Drammeh who also dwelt on the informal sector of the economy pointed that The Gambia as an LDC country; the contribution of the informal sector to the GDP is greater than the formal sector's contribution. He advised that measurements still need to be done on women's contribution to the GDP, through their informal activities, saying "The informal sector represents a very high proportion of trade employment as well as trade GDP".
Held yesterday at the Kairaba Beach hotel, the two day summit which was attended by development partrners, senior government officials, NGOs among others mainly focuses on the agricultural, insurance, and informal sector of the economy.
It comes at a better time when the government of the Gambia is in its toe developing a new planning framework - Programme for Accelerated Growth and Employment (PAGE) - which according to president Jammeh focuses on "growth and employment".
President Jammeh was speaking through the vice president, Dr Isatou Njie Saidy, when he cited the relevance of the summit, saying "The importance of productive capacities for economic growth and employment with consequential impact on poverty reduction is evident in the development experience of developing countries which have managed to achieve sustained and substantial poverty reduction over the last 30 years."
For him: "The under-development of productive capacities is the missing link between the expanding international trade which many LDCs [leased developed countries] have achieved in recent years. The over-dependence on a few primary commodities for our export earnings is part of the reasons for the vulnerability and instability of the economies of most LDCs. Consequently, our economies remain fragile due to their excessive vulnerability to various shocks, and this could be arguably linked to our weak productive and supply capacities."
For the NGOs, private sectors, and others, he called: "We must therefore come together to build a genuine partnership that would enable us to face the daunting challenges of socio-economic development." Whilst he echoed his popular calls for Gambians to override the development of the country, he was not hasty to say "I must emphasise that the development of this country cannot be anchored on the benevolence of others." He could not have said more than this; "We must look within and make maximum use of our available resources human, material and financial."
Abdou Kolley, minister of trade, regional integration and employment underlined his hope for fruitful outcomes, noting that the outcomes of the summit would be a tool for accelerating growth, reduce poverty and create further employment.
He highlighted the positive outcomes of the last economic summit which was held in 2003, while cautioning that this summit would not be a talk-shop. For Kolley, eight years ago, the central theme of many fora were availability of basic facilities such as electricity, telecommunications etc, and saying the focus now graduated to more on "affordability". Citing the ACE fibre cable on the pipeline for making internet affordable, available and accessible, Hon Kolley said internet access will enhance in coming years.
Bai Mattar Drammeh, GCCI president emphasised on the importance of the agricultural, insurance and informal sector, saying the three sectors play a vital role in the economy and key growth areas. For agriculture he explained that there are 49 LDCs with a population of more than 800 million people, who represented the poorest and most vulnerable segment of humanity and are at the very epicentre of development emergency. He observed that international trade market opportunities are also changing, with growing integration of global agricultural supply chain and the emergency of large economies.
As regards insurance, he said this sector is considered an infrastructural pillar of the financial services sector and the economy. "Insurance companies form a growing part of the domestic financial sector and closely linked with macroeconomic factors such as inflation, currency, controls, and the national income. Speaking further, Drammeh said insurance improves individuals' quality of life and increases social stability by way of individual health and life insurance, pension funds and workers compensation.
Drammeh who also dwelt on the informal sector of the economy pointed that The Gambia as an LDC country; the contribution of the informal sector to the GDP is greater than the formal sector's contribution. He advised that measurements still need to be done on women's contribution to the GDP, through their informal activities, saying "The informal sector represents a very high proportion of trade employment as well as trade GDP".
Patriot Insurance Brokers Grabs Three Major Conglomerates to reduce Poised premium service
Patriot Insurance Brokers (PIB) - The Gambian owned and managed insurance broker has recently been awarded portfolios by three major companies in the country.
This move is an indication of the indisputable services the brokers offers to its clientele, having come to the burgeoning insurance market less than three months ago, after being licensed by the
Central Bank of The Gambia.
However, despite the stiff competition unfolding in the market, the broker was able to grab consultancy from Gamtel - the Gambia's only gateway to telecommunication - to review insurance service contracts it has with other entities from 2007 to date. In another development, PIB takes brokerage service on risk and insurance for the Gambia Civil Aviation Authority (GCCA), and for NAWEC on brokerage service respectively, unveiled Mamadou Lamin S Bah administrator and finance manager of PIB."We are setting up a proposal on medical, personal and other insurances."
However, as the inflation in premium is seemingly distancing many people from the insurance industry, Bah pointed out that they "want to change people's perception on premium inflation, by cutting down premium and making [it] a cost effective service, that is affordable to all and sundry. With all the challenges, PIB is facing, we are ready to give our customers satisfying services, because we understand the risk you are exposed, we are committed to finding time to examine the issues and match your needs with the best solutions."
Whilst speaking earlier on the fruitful collaboration with NAWEC, Bah unveiled that they "currently succeeded on negotiations for compensation of D10, 000 between an Insurance company and NAWEC on vehicle damages, even though the vehicle was not part of the agreements - but based on the degree of 'ex-gratia' we came to terms."
Bah cautioned: "that it is prudent for every institution in the country to have a unit that is responsible for managing and coordinating insurance affairs.This will allow accountability and transparency between the insurers and the insures of that entity, and facilitate easy access to information regarding the insurance."
Bah who gives credit to the government for creating the conducive environment, pinpointed that one of the major challenges hindering the progress of the industry is 'awareness', adding that
they have proposals on the table that he wishes to keep close to his chest, but will help address what he describe as a "symptom" in many people's mind. He smiles to the credibility PIB has been able to garner within a short period of existence, whilst calling on Gambians to patronise them. "By this, we will be able to strengthen our efforts and reduce poverty. The economy is moving on the right track and we want to become the younger generation of insurers" he says.
"I am sort of words to expressed my gratitude to the president for sponsoring my education," he says whilst calling on citizens to help and patronise each other and "together celebrate excellence".
The insurance companies in the country are day-in day-out yearning for a 'national marine insurance legislation'; and for Bah this will be a good move, saying it is a vital component for investors.
The said legislation would compelled all stakeholders in the marine industry to join the insurance corridor. This, as highlighted by Ebrima Ceesay , CEO PIB will help reduce the degree of unemployment and increase the level of personal security for those in the marine sector of the economy, saying "thereafter insurance companies will burgeon, giving rise to prosperity and the need to employ a good number of citizen". Ceesay adds that "it is industrial development that we [PIB] want in the country," noting that in economic terms a country's status is most often determined by the level of performance of the insurance sector. The seasoned insurer called on the Gambia Chamber of Commerce (GCCI) to put insurance entities (not as a general body like the Insurance Association of The Gambia per say, but as individual grouping entities) in the limelight of their activities, adding that they are coming up with an 'Association for Insurance Brokers'.
This move is an indication of the indisputable services the brokers offers to its clientele, having come to the burgeoning insurance market less than three months ago, after being licensed by the
Central Bank of The Gambia.
However, despite the stiff competition unfolding in the market, the broker was able to grab consultancy from Gamtel - the Gambia's only gateway to telecommunication - to review insurance service contracts it has with other entities from 2007 to date. In another development, PIB takes brokerage service on risk and insurance for the Gambia Civil Aviation Authority (GCCA), and for NAWEC on brokerage service respectively, unveiled Mamadou Lamin S Bah administrator and finance manager of PIB."We are setting up a proposal on medical, personal and other insurances."
However, as the inflation in premium is seemingly distancing many people from the insurance industry, Bah pointed out that they "want to change people's perception on premium inflation, by cutting down premium and making [it] a cost effective service, that is affordable to all and sundry. With all the challenges, PIB is facing, we are ready to give our customers satisfying services, because we understand the risk you are exposed, we are committed to finding time to examine the issues and match your needs with the best solutions."
Whilst speaking earlier on the fruitful collaboration with NAWEC, Bah unveiled that they "currently succeeded on negotiations for compensation of D10, 000 between an Insurance company and NAWEC on vehicle damages, even though the vehicle was not part of the agreements - but based on the degree of 'ex-gratia' we came to terms."
Bah cautioned: "that it is prudent for every institution in the country to have a unit that is responsible for managing and coordinating insurance affairs.This will allow accountability and transparency between the insurers and the insures of that entity, and facilitate easy access to information regarding the insurance."
Bah who gives credit to the government for creating the conducive environment, pinpointed that one of the major challenges hindering the progress of the industry is 'awareness', adding that
they have proposals on the table that he wishes to keep close to his chest, but will help address what he describe as a "symptom" in many people's mind. He smiles to the credibility PIB has been able to garner within a short period of existence, whilst calling on Gambians to patronise them. "By this, we will be able to strengthen our efforts and reduce poverty. The economy is moving on the right track and we want to become the younger generation of insurers" he says.
"I am sort of words to expressed my gratitude to the president for sponsoring my education," he says whilst calling on citizens to help and patronise each other and "together celebrate excellence".
The insurance companies in the country are day-in day-out yearning for a 'national marine insurance legislation'; and for Bah this will be a good move, saying it is a vital component for investors.
The said legislation would compelled all stakeholders in the marine industry to join the insurance corridor. This, as highlighted by Ebrima Ceesay , CEO PIB will help reduce the degree of unemployment and increase the level of personal security for those in the marine sector of the economy, saying "thereafter insurance companies will burgeon, giving rise to prosperity and the need to employ a good number of citizen". Ceesay adds that "it is industrial development that we [PIB] want in the country," noting that in economic terms a country's status is most often determined by the level of performance of the insurance sector. The seasoned insurer called on the Gambia Chamber of Commerce (GCCI) to put insurance entities (not as a general body like the Insurance Association of The Gambia per say, but as individual grouping entities) in the limelight of their activities, adding that they are coming up with an 'Association for Insurance Brokers'.
Speed: Ditching the glasses into the national market
As one of the latest petrol stations to enter the Gambia soil, Speed Gambia is not unmaking its way through the free-market firmament in the Gambia.
Two years after it was launched, the petrol station, owned and managed by Gambians is experience enormous challenges from the huge competitions and the rise
in fuel prices, beside the government creating a level playing field for business to thrive.
Located at Brusubi-Sukuta highway with another petrol station situated at the outskirts between Lamin village and Abuko, the fuel conglomerate is expanding so rapidly in a country of 1.7 million people where a massive percentage of the population don't have access to own private vehicles. In this day and age of fuel crisis, the challenges are enormous, admits Amin Najib, Director of Speed during an encounter with MarketPlace.
Born in Kaur, Central River Region, Mr Najib said when it comes to business, there is a level-playing field, but as the price of fuel sky-rocketed Speed being a new petrol station is committed to making its way into the national market. "It was a new venture we started about three years ago. And we have searching for a strategic location, until when we found out that there is no petrol station around this end [Bursubi ends]." He opined that at the initial, Speed was flying to the sky until recently when four new petrol stations were constructed within the ends. He admits: "this really affects our business", but was not hasty to throw hope to the discussions, saying "we hope that this [their two petrol stations] will improve."
He said that stiff competitions in the market is affecting their business, whilst also adding that power shortage constitutes another factor.
He said most often they have to put on their generator 24 hrs, adding that as 24 hour business operators this is seemingly not going down well with business, believing that fuel consumption has its side of the story.
Because we are so small, we don't get the big customers. The big customers go to the multinationals [petrol stations], which makes our marketing efforts lot harder to attract customers. This is our biggest problems," says Nadil El Masri the managing director. He notes that as the prices of fuel escalated in the international market, this reflect sternly on the prices of fuel in the Gambia.
"It is not only Gambia where fuel prices is booming, it's happening everywhere. We have no control on that," he remarks, adding that this is striking the potential of many private vehicles plying the Gambian roads. Speaking further, he notes that commercial vehicle owners - who cannot pack their vehicles because fuel prices soar - are also seriously affected, pointing that when the price kneel down, petrol stations would have more customers, in comparison with the current situation. "At a lower price, we have more sales...well at higher price our sales decrease."
They both expressed hope that many people will patronise them, saying they are poised to employ as many Gambians as they can.
Whilst the spectacular year of 2011 continues to unfold with unexpected and rapidly growing changes, Speed, in conformity with the nature of business, is also aimed at introducing unbeatable products in the market.
Two years after it was launched, the petrol station, owned and managed by Gambians is experience enormous challenges from the huge competitions and the rise
in fuel prices, beside the government creating a level playing field for business to thrive.
Located at Brusubi-Sukuta highway with another petrol station situated at the outskirts between Lamin village and Abuko, the fuel conglomerate is expanding so rapidly in a country of 1.7 million people where a massive percentage of the population don't have access to own private vehicles. In this day and age of fuel crisis, the challenges are enormous, admits Amin Najib, Director of Speed during an encounter with MarketPlace.
Born in Kaur, Central River Region, Mr Najib said when it comes to business, there is a level-playing field, but as the price of fuel sky-rocketed Speed being a new petrol station is committed to making its way into the national market. "It was a new venture we started about three years ago. And we have searching for a strategic location, until when we found out that there is no petrol station around this end [Bursubi ends]." He opined that at the initial, Speed was flying to the sky until recently when four new petrol stations were constructed within the ends. He admits: "this really affects our business", but was not hasty to throw hope to the discussions, saying "we hope that this [their two petrol stations] will improve."
He said that stiff competitions in the market is affecting their business, whilst also adding that power shortage constitutes another factor.
He said most often they have to put on their generator 24 hrs, adding that as 24 hour business operators this is seemingly not going down well with business, believing that fuel consumption has its side of the story.
Because we are so small, we don't get the big customers. The big customers go to the multinationals [petrol stations], which makes our marketing efforts lot harder to attract customers. This is our biggest problems," says Nadil El Masri the managing director. He notes that as the prices of fuel escalated in the international market, this reflect sternly on the prices of fuel in the Gambia.
"It is not only Gambia where fuel prices is booming, it's happening everywhere. We have no control on that," he remarks, adding that this is striking the potential of many private vehicles plying the Gambian roads. Speaking further, he notes that commercial vehicle owners - who cannot pack their vehicles because fuel prices soar - are also seriously affected, pointing that when the price kneel down, petrol stations would have more customers, in comparison with the current situation. "At a lower price, we have more sales...well at higher price our sales decrease."
They both expressed hope that many people will patronise them, saying they are poised to employ as many Gambians as they can.
Whilst the spectacular year of 2011 continues to unfold with unexpected and rapidly growing changes, Speed, in conformity with the nature of business, is also aimed at introducing unbeatable products in the market.
Friday, 8 April 2011
The creation of a market
Women Empowerment Gains Momentum, as Gov allocates vast plot of land for a multi-purpose market
In its drive to reduce poverty by empowering women who are found to be the most vulnerable, the government of the Gambia has taken two major bold steps in recent years. first the launching of the National Federation of Gambian Women and the allocation of a multi-million plot of land at a strategic location at Bursubi around the police station for the purpose of a multi-purpose market, whose establishment would cost 250 million Gambian dalasi.
The land would be used as a multi-purpose centre dubbed ‘Lumo’, where people, particularly women from all walks of life including those from the sub-region meet to trade and show-case their produce. It creates a sort of a platform where wholesalers could buy large quantity of produce and sell them under retail at the mini-markets in the region.
In a bid to get the glimpse of the rationale behind the initiative, our reporter spoke with certain personae that are keyed in the National Federation of Gambian Women- the federation launched recently to oversee the affairs of Gambian women from both the formal and informal sectors of the country.
Ida Faye Hydara, the executive director of Women’s Bureau told this reporter that
products produced by various villages could be brought here as a wholesale, so those from the serrekunda market, Bundung market and other markets can come here and buy them. She said this create an “easy access to horticultural products for market sellers”.
“This is like creating a link between sellers and buyers, as well as producers.
Asked what about villages that produce the same products and wish to access the market, whether there would be no conflict of interest? She said they are laying much emphasis on a system of “one village one product”, by “organising and programming them [the producers].”
She harps on the high interest rate that banks give to women, saying this is why they are not reluctant to give them credit, so they would have finance to buy some of their needs. We are trying to create an avenue for business venture, that’s why we told them to pay five dalasi each [500,000 women targeted].”
However, she said even though this stipulated amount is paid, they are still unable to meet the necessary financing to build up the market. “That’s why we asked every woman to pay D500 each, so we meet the demand [D250 million] for a multi-purpose centre [lumo].” She adds that they should not be at a standstill as a result of donor funding gap, but rather use their own resources to implement programmes. “It has been a while women are oriented to sit and wait for donor funding, which is not sustainable. Vegetable growing or farming is different… you have to invest to really make money out of it.” Putting up effective water system and proper sanitation is part of the demand Ida made mentioned about. That is why the Federation has targeted 500, 000 women who are committed to paying D500 each in order to make a headway for the market.
She called on the women to manifested commitment, saying “the more women are committed, the more support we get from both government and development partners,” even though she described the latter as “not sustainable”.
She challenged the need for private sector involvement, saying “we are expecting them to support us in the area of creating more awareness,” adding: “they have brilliant ideas.”
“Financial institutions need people [business people] to save, so if people don’t have enough money, how do you expect them to save [or pay]?”
“That’s why they have to come closer to our federation and support our initiative.” She enjoined them to seek bilateral relationship with the federation, so both parties will brainstorm on great ideas.
At the heart of the initiative, she said, they are proposing 200 shops, food market, [lumo] and an area where they will sell country-made produce. We are also proposing to have storage facilities, skills training centre facilities, clinic, day care, beauty shop, wholesale stores, clothing etc. “We started selling rice in collaboration with KGI. Very soon we will start partnering with importers that sell oil.”
“All this is as a result of helping women and creating more profitable business avenue for women or improving what they are already engage in. The proceeds realised will be reinvested back to women programmes and empowerment that are aim at augmenting the social status of women and meeting the MDGs.
Asked if there is any interest rate attached to it, she said theirs is more of a “social collateral”, with little if any interest rate.
Fatoumatta Jah, President to the Federation said they want to have a “microcredit for women”, because of the high interest rate of banks. She adds that theirs is 7% interest rate. However, taking into consideration the large number of horticultural producers coming from the rural area, Mrs Jah pointed that they are devising ways and means of making the market accessible to rural women, saying they are strategizing how to transport them with their goods to the market on regular basis.
Ramou Cole-Ceesay Permanent secretary (2) office of the vice-president said they will start of with constructing a food production and processing plant. “Most produce are highly perishable and there is hardly any outlet for marketing, as a result women end up selling produce at a very risky price [low priced].”
The creation of a large market of this kind, as she puts it, will help mend the situation, as they will craft linkages between major buyers, such as the hotels and other industries.
Asked if she foresees a situation of oligopoly- where sellers outnumber buyers, she responded in the negative, saying “hotels want quantity, noting that quality is one key point, but quantity on a continuous daily basis is another. We have a market locally, and Senegal comes year-round with trucks to buy Gambian produce. They come and buy in bulk, because they [commodities] are cheaper here [in Gambia].
“As long as the astronauts remained in space, Gambian
In its drive to reduce poverty by empowering women who are found to be the most vulnerable, the government of the Gambia has taken two major bold steps in recent years. first the launching of the National Federation of Gambian Women and the allocation of a multi-million plot of land at a strategic location at Bursubi around the police station for the purpose of a multi-purpose market, whose establishment would cost 250 million Gambian dalasi.
The land would be used as a multi-purpose centre dubbed ‘Lumo’, where people, particularly women from all walks of life including those from the sub-region meet to trade and show-case their produce. It creates a sort of a platform where wholesalers could buy large quantity of produce and sell them under retail at the mini-markets in the region.
In a bid to get the glimpse of the rationale behind the initiative, our reporter spoke with certain personae that are keyed in the National Federation of Gambian Women- the federation launched recently to oversee the affairs of Gambian women from both the formal and informal sectors of the country.
Ida Faye Hydara, the executive director of Women’s Bureau told this reporter that
products produced by various villages could be brought here as a wholesale, so those from the serrekunda market, Bundung market and other markets can come here and buy them. She said this create an “easy access to horticultural products for market sellers”.
“This is like creating a link between sellers and buyers, as well as producers.
Asked what about villages that produce the same products and wish to access the market, whether there would be no conflict of interest? She said they are laying much emphasis on a system of “one village one product”, by “organising and programming them [the producers].”
She harps on the high interest rate that banks give to women, saying this is why they are not reluctant to give them credit, so they would have finance to buy some of their needs. We are trying to create an avenue for business venture, that’s why we told them to pay five dalasi each [500,000 women targeted].”
However, she said even though this stipulated amount is paid, they are still unable to meet the necessary financing to build up the market. “That’s why we asked every woman to pay D500 each, so we meet the demand [D250 million] for a multi-purpose centre [lumo].” She adds that they should not be at a standstill as a result of donor funding gap, but rather use their own resources to implement programmes. “It has been a while women are oriented to sit and wait for donor funding, which is not sustainable. Vegetable growing or farming is different… you have to invest to really make money out of it.” Putting up effective water system and proper sanitation is part of the demand Ida made mentioned about. That is why the Federation has targeted 500, 000 women who are committed to paying D500 each in order to make a headway for the market.
She called on the women to manifested commitment, saying “the more women are committed, the more support we get from both government and development partners,” even though she described the latter as “not sustainable”.
She challenged the need for private sector involvement, saying “we are expecting them to support us in the area of creating more awareness,” adding: “they have brilliant ideas.”
“Financial institutions need people [business people] to save, so if people don’t have enough money, how do you expect them to save [or pay]?”
“That’s why they have to come closer to our federation and support our initiative.” She enjoined them to seek bilateral relationship with the federation, so both parties will brainstorm on great ideas.
At the heart of the initiative, she said, they are proposing 200 shops, food market, [lumo] and an area where they will sell country-made produce. We are also proposing to have storage facilities, skills training centre facilities, clinic, day care, beauty shop, wholesale stores, clothing etc. “We started selling rice in collaboration with KGI. Very soon we will start partnering with importers that sell oil.”
“All this is as a result of helping women and creating more profitable business avenue for women or improving what they are already engage in. The proceeds realised will be reinvested back to women programmes and empowerment that are aim at augmenting the social status of women and meeting the MDGs.
Asked if there is any interest rate attached to it, she said theirs is more of a “social collateral”, with little if any interest rate.
Fatoumatta Jah, President to the Federation said they want to have a “microcredit for women”, because of the high interest rate of banks. She adds that theirs is 7% interest rate. However, taking into consideration the large number of horticultural producers coming from the rural area, Mrs Jah pointed that they are devising ways and means of making the market accessible to rural women, saying they are strategizing how to transport them with their goods to the market on regular basis.
Ramou Cole-Ceesay Permanent secretary (2) office of the vice-president said they will start of with constructing a food production and processing plant. “Most produce are highly perishable and there is hardly any outlet for marketing, as a result women end up selling produce at a very risky price [low priced].”
The creation of a large market of this kind, as she puts it, will help mend the situation, as they will craft linkages between major buyers, such as the hotels and other industries.
Asked if she foresees a situation of oligopoly- where sellers outnumber buyers, she responded in the negative, saying “hotels want quantity, noting that quality is one key point, but quantity on a continuous daily basis is another. We have a market locally, and Senegal comes year-round with trucks to buy Gambian produce. They come and buy in bulk, because they [commodities] are cheaper here [in Gambia].
“As long as the astronauts remained in space, Gambian
The need for Inusrance brookers
Patriot Insurance Brokers: The need for one
Out to provide ‘professional’ insurance service
Patriot Insurance Brokers Company Ltd, the latest broker to enter the insurance market as intermediary between insurers and the insuring public, is poised to provide services and products that will meet policy holders’ satisfaction while serving insurance entities professionally.
While the company’s mission sets on building “an efficient insurance service delivery system based on professionalism and commitment to integrity, sincerity, honesty, prudence and an uncompromising quality service delivery,” its strategic focus is to be a very reliable insurance broker in The Gambia.
“We have been able to achieve sustained, fruitful and cordial relationship between us, our clients and the insurer, borne largely out of our professionalism and technical expertise in the service of efficient service delivery,” says Ebrima Ceesay, Chief Executive Officer (CEO) of the company.
Speaking to MarketPlace in his comfy head office at the Standard Chartered Building on 52 Kairaba Avenue, Mr Ceesay said: “The business of placing one’s insurance like any other organised commercial venture requires professionalism and the subject knowledge to gain the optimum there from.”
As the need for brokers to act as intermediaries between the policy holder and the insurer becomes more crucial, the patriotic brokers have came to roll out their professional service to all stakeholders.
Whilst the principal function of insurance is to give protection by making provision for loss of life and property as well as indemnify the policy holder in the event of a loss, the Patriot Brokers, as its name connotes, is out to ensure that claimants receive fair and appropriate settlement within the terms of the agreed policy.
“It is the duty of a broker to ensure that not only does he obtain the best terms for his clients but that in the event of a claim his client receives an equitable and satisfactory settlement within the terms of the policy has arranged,” Mr Ceesay, a seasoned insurance broker with over twenty-year experience, said.
Speaking on the importance of insurance in a country, Momodu Lamin S. Bah, Administrator and Finance Manager of the Patriot Brokers, said: “Insurance is said to be the handmaiden of commerce and industry and this is why it is described as a ‘business that exists to ensure the existence and survival of other businesses’.
“The insurance industry of any other country is closely tied up to the economy of that country. As it is widely believed and realised, no business can succeed without one form of insurance or another. By now we have all accepted that Insurance and business have co-existed since from time immemorial.”
He adds that as new insurance brokers, the Patriot functions as an “overseer” between the insurance companies and the insuring public, to ensure that both parties benefit on the ground of mutual understanding.
“The present large scale commercial and industrial activity in The Gambia has been made possible, to a large extent by the existence of an organised insurance system, by providing various classes of insurance such as fire insurance, motor insurance, etc.”
Products in the offing
The company has many products in the offing to cater for all categories of potential policy holders.
“We offer ‘Fire and allied perils’, which covers building, stock and content of offices against the risk of physical damage or destruction resulting from fire, lightening, explosion, flood, riot and strike, civil commotion, malicious damage etc,” Mr Bah said, adding: “We need the market value of the content to enable us provide quote and cover.”
The burglary insurance also indemnifies customers against the loss of properties as a result of theft, he says.
As cases of accident have become a common phenomenon, Patriot Brokers has designed ‘Personal Accident’ to provide capital sums for accidental death, injury, or disability including medical expenses.
The Insurance guru with a wealth of experience adds: “Weekly sums are payable for any period of up to 104 weeks in all when the insured is disabled from carrying on his usual business or occupation.”
The company’s All risk insurance covers practically every conceivable type of risk, which include such items as jewellery and gold., silver, watches, personal effects and other similar items or valuables.
He says the company also has products called Public Liability, Professional Indemnity.
Cash in transit/safe, and Fidelity Guaranty Insurance.
“Financial fraud or embezzlement by employee holding position of trust is on the increase,” Mr Bah said. “Fidelity Guaranty Insurance Policy is issued to employees guaranteeing the fidelity of his managers, secretary, collectors and other employees who are entrusted with the company’s money. The policy is to reimburse the employers against theft of their policy or stock by specified employee or employees if the policy is issued to cover them.”
The company also offers such policies as Motor Insurance, Consequential Loss, Driver’s Personal Accident, Bond, Contractor all Risk, Machinery Breakdown, Aviation, and Other Engineering Policies.
“With the experience we have with a range of insurance companies, we know some of their strengths and weaknesses and the best way to communicate with them,” he added.
Mr Bah commended the Insurance Association of The Gambia (IAG), for its just concluded week-long awareness campaign. He, however emphasised the need for an “Association of Insurance Brokers”, saying it will help to foster better understanding and cooperation among brokers in the country.
A well developed brokers’ association that works hand in glove with the IAG would help to foster a level-playing field for all stakeholders in the insurance industry, he says.
Out to provide ‘professional’ insurance service
Patriot Insurance Brokers Company Ltd, the latest broker to enter the insurance market as intermediary between insurers and the insuring public, is poised to provide services and products that will meet policy holders’ satisfaction while serving insurance entities professionally.
While the company’s mission sets on building “an efficient insurance service delivery system based on professionalism and commitment to integrity, sincerity, honesty, prudence and an uncompromising quality service delivery,” its strategic focus is to be a very reliable insurance broker in The Gambia.
“We have been able to achieve sustained, fruitful and cordial relationship between us, our clients and the insurer, borne largely out of our professionalism and technical expertise in the service of efficient service delivery,” says Ebrima Ceesay, Chief Executive Officer (CEO) of the company.
Speaking to MarketPlace in his comfy head office at the Standard Chartered Building on 52 Kairaba Avenue, Mr Ceesay said: “The business of placing one’s insurance like any other organised commercial venture requires professionalism and the subject knowledge to gain the optimum there from.”
As the need for brokers to act as intermediaries between the policy holder and the insurer becomes more crucial, the patriotic brokers have came to roll out their professional service to all stakeholders.
Whilst the principal function of insurance is to give protection by making provision for loss of life and property as well as indemnify the policy holder in the event of a loss, the Patriot Brokers, as its name connotes, is out to ensure that claimants receive fair and appropriate settlement within the terms of the agreed policy.
“It is the duty of a broker to ensure that not only does he obtain the best terms for his clients but that in the event of a claim his client receives an equitable and satisfactory settlement within the terms of the policy has arranged,” Mr Ceesay, a seasoned insurance broker with over twenty-year experience, said.
Speaking on the importance of insurance in a country, Momodu Lamin S. Bah, Administrator and Finance Manager of the Patriot Brokers, said: “Insurance is said to be the handmaiden of commerce and industry and this is why it is described as a ‘business that exists to ensure the existence and survival of other businesses’.
“The insurance industry of any other country is closely tied up to the economy of that country. As it is widely believed and realised, no business can succeed without one form of insurance or another. By now we have all accepted that Insurance and business have co-existed since from time immemorial.”
He adds that as new insurance brokers, the Patriot functions as an “overseer” between the insurance companies and the insuring public, to ensure that both parties benefit on the ground of mutual understanding.
“The present large scale commercial and industrial activity in The Gambia has been made possible, to a large extent by the existence of an organised insurance system, by providing various classes of insurance such as fire insurance, motor insurance, etc.”
Products in the offing
The company has many products in the offing to cater for all categories of potential policy holders.
“We offer ‘Fire and allied perils’, which covers building, stock and content of offices against the risk of physical damage or destruction resulting from fire, lightening, explosion, flood, riot and strike, civil commotion, malicious damage etc,” Mr Bah said, adding: “We need the market value of the content to enable us provide quote and cover.”
The burglary insurance also indemnifies customers against the loss of properties as a result of theft, he says.
As cases of accident have become a common phenomenon, Patriot Brokers has designed ‘Personal Accident’ to provide capital sums for accidental death, injury, or disability including medical expenses.
The Insurance guru with a wealth of experience adds: “Weekly sums are payable for any period of up to 104 weeks in all when the insured is disabled from carrying on his usual business or occupation.”
The company’s All risk insurance covers practically every conceivable type of risk, which include such items as jewellery and gold., silver, watches, personal effects and other similar items or valuables.
He says the company also has products called Public Liability, Professional Indemnity.
Cash in transit/safe, and Fidelity Guaranty Insurance.
“Financial fraud or embezzlement by employee holding position of trust is on the increase,” Mr Bah said. “Fidelity Guaranty Insurance Policy is issued to employees guaranteeing the fidelity of his managers, secretary, collectors and other employees who are entrusted with the company’s money. The policy is to reimburse the employers against theft of their policy or stock by specified employee or employees if the policy is issued to cover them.”
The company also offers such policies as Motor Insurance, Consequential Loss, Driver’s Personal Accident, Bond, Contractor all Risk, Machinery Breakdown, Aviation, and Other Engineering Policies.
“With the experience we have with a range of insurance companies, we know some of their strengths and weaknesses and the best way to communicate with them,” he added.
Mr Bah commended the Insurance Association of The Gambia (IAG), for its just concluded week-long awareness campaign. He, however emphasised the need for an “Association of Insurance Brokers”, saying it will help to foster better understanding and cooperation among brokers in the country.
A well developed brokers’ association that works hand in glove with the IAG would help to foster a level-playing field for all stakeholders in the insurance industry, he says.
Ex-Minister's proposal on the table, beside Jammeh opening fire on him
GRA TASKS GTBANK WITH TAX, DUTY COLLECTION
Amat JENG
Guarantee Trust Bank has been entrusted the role of a revenue collector by one of Gambia’s fastest growing institutions- the Gambia Revenue Authority (GRA). This is the first of its kind in the annals of the country’s public-private sector relations.
In a bid to boost its revenue collection activity more effectively with rapid response to the growing size of tax payers across the country, GRA signed a Memorandum of Understanding (MoU) with the GTbank, surfacing the way for tax payers to pay their taxes and duties payable to GRA at any of the GTbank’s 13 branches in the country.
Effective 3rd May, 2011taxpayers will be able to pay their taxes and duties at GTB’s branches through a GRA dedicated Teller Point manned by a GRA revenue collection process trained cashier.
Reacting to this giant development undertaken by the two institution, Bakary Sanyang, Commissioner General of GRA, said the process started three years ago, adding that the signing of the MoU marks the starting point of a six-week pilot project with the bank.
However, as the opportunities involved are vast, and that one bank alone would not be sufficient to man all GRA tax payers, the need for other banks to follow suit is in the offing, as he puts it “We have our taxpayers across the country and probably the expansion of one bank would not be sufficient to handle all GRA taxpayers, and we at GRA are calling on other banks in the country to come forward as early as possible to talk to the GRA IT [information technology] department on the matter [singing of an MoU].”
However, this development comes at a better time as much of growth in revenues has been on account of increase in duty and tax rates. As the former Finance minister puts it three months ago “since the establishment of the GRA, there has been a lot of emphasis on strengthening tax administration and improving tax collection.”
This shift is a boost for both institutions, as reforms at GRA are continuing with emphasis on improving its tax database, developing better internal controls, strengthening enforcement capacity and improving the utilisation of information and communication system.
This could be seen as part of the finance ministry’s commitment to tax administration measures to be implemented by GRA in the course of the year 2011. It is part of the commitment the ministry laid on the table during the start of this year. “[We are] exploring the possibilities of using commercial banks in tax collection with a view to facilitating faster collection and reconciliation of tax revenue collections.”
This kind of public-private sector collaboration in revenue collection has become the trend in most countries to improve their tax administration, especially the collection of the tax revenue,” Lekan Sanusi, MD GTB, said, before putting pen on paper.
He further described the signing as a key development in the history of public-private sector partnership, with a view to anbling the GRA to discharge its core mandate of revenue collection more effectively, while utilising a private sector channel to put convenience at the doorstep of taxpayers.
As bank, among the first banks to meet government requirements for banking, MD Sanusi said his bank is committed to make this scheme a success story for the country.
“GTB group has experience, as we have been collecting taxes and duties on behalf of the federal and state tax collection agencies in Nigeria for years.”
Amat JENG
Guarantee Trust Bank has been entrusted the role of a revenue collector by one of Gambia’s fastest growing institutions- the Gambia Revenue Authority (GRA). This is the first of its kind in the annals of the country’s public-private sector relations.
In a bid to boost its revenue collection activity more effectively with rapid response to the growing size of tax payers across the country, GRA signed a Memorandum of Understanding (MoU) with the GTbank, surfacing the way for tax payers to pay their taxes and duties payable to GRA at any of the GTbank’s 13 branches in the country.
Effective 3rd May, 2011taxpayers will be able to pay their taxes and duties at GTB’s branches through a GRA dedicated Teller Point manned by a GRA revenue collection process trained cashier.
Reacting to this giant development undertaken by the two institution, Bakary Sanyang, Commissioner General of GRA, said the process started three years ago, adding that the signing of the MoU marks the starting point of a six-week pilot project with the bank.
However, as the opportunities involved are vast, and that one bank alone would not be sufficient to man all GRA tax payers, the need for other banks to follow suit is in the offing, as he puts it “We have our taxpayers across the country and probably the expansion of one bank would not be sufficient to handle all GRA taxpayers, and we at GRA are calling on other banks in the country to come forward as early as possible to talk to the GRA IT [information technology] department on the matter [singing of an MoU].”
However, this development comes at a better time as much of growth in revenues has been on account of increase in duty and tax rates. As the former Finance minister puts it three months ago “since the establishment of the GRA, there has been a lot of emphasis on strengthening tax administration and improving tax collection.”
This shift is a boost for both institutions, as reforms at GRA are continuing with emphasis on improving its tax database, developing better internal controls, strengthening enforcement capacity and improving the utilisation of information and communication system.
This could be seen as part of the finance ministry’s commitment to tax administration measures to be implemented by GRA in the course of the year 2011. It is part of the commitment the ministry laid on the table during the start of this year. “[We are] exploring the possibilities of using commercial banks in tax collection with a view to facilitating faster collection and reconciliation of tax revenue collections.”
This kind of public-private sector collaboration in revenue collection has become the trend in most countries to improve their tax administration, especially the collection of the tax revenue,” Lekan Sanusi, MD GTB, said, before putting pen on paper.
He further described the signing as a key development in the history of public-private sector partnership, with a view to anbling the GRA to discharge its core mandate of revenue collection more effectively, while utilising a private sector channel to put convenience at the doorstep of taxpayers.
As bank, among the first banks to meet government requirements for banking, MD Sanusi said his bank is committed to make this scheme a success story for the country.
“GTB group has experience, as we have been collecting taxes and duties on behalf of the federal and state tax collection agencies in Nigeria for years.”
EU GIVES GAMBIA
European Commission Extends Largesse to Fisheries Sector
As part of its funded programme for strengthening of fisheries products health conditions in ACP and OCT countries (SFP), the European Commission (EC) donated material assistance to the Ministry of fisheries to support activities of the competent authority inspection services on control of the health standards of fishery products.
The material assistance was formally handed over by the Delegation of the European Union (EU) to the Gambia on behalf of EC to the Ministry of fisheries at a handing over ceremony on Wednesday 6 April, held at the fisheries department in Banjul.
Reacting to what he described as “a wonderful gesture, which symbolises the fruitful cooperation” that exists between the Gambia and EC, Nfamara Dampha, the Director of fisheries said: “The fisheries department is happy to receive these equipments and I will assure you that the materials will be used for the benefit of ensuring that fish and fishery products meet the required standards.”
The objective of providing the equipments is to support the Competent Authority (CA) in The Gambia in order to meet its activities and also addressing the issues of sanitary control of fish and fishery products. It will among other things, enable the CA to improve the control systems in the fish processing chain.
The items donated includes two vehicle, two motor bicycles, IT materials- 4 computers, 2 laptops, printers, fax machines, and some facilities to be worn for safety precaution at sea.
“There is no doubt that the intervention of the SFP programme to assist The Gambia fisheries sector has been very effective,” said Amadou Saine, Permanent Secretary, Ministry of fisheries and water resources.
Whilst he assures of continued commitment to ensuring effective sanitary control of the fish and fishery products, he underlined that the materials donated will be put in good use.
World Bank Supports Job Creation Scheme for Gambia
The Gambian government has continued with its onward march of creating job opportunities through various schemes and programmes. Our Banjul correspondent reports the recent World Bank supported scheme launched by the government to create job opportunities for Gambians, especially for those in the agriculture and tourism sectors.
With unemployment being one of the headaches of all governments around the world as the number of the unemployed continues to soar, giving rise to many upheavals in many countries, the Gambian government continues to accelerate its efforts at creating job opportunities for its citizens to ensure a sustainable livelihood for the people.
One of the ways it wants to promote this goal is through the setting up of sectoral projects to strategically tackle the unemployment phenomenon, such as the Gambia Growth and Competitiveness Project (GGCP) and the West Africa Agricultural Production Project (WAAPP) launched recently by the country’s president.
The GGCP, financed by the World Bank Group in the Agricultural sector to the tune of $12 million, is designed to promote the government’s growth and job creation agenda, especially in agribusiness and tourism.
The GGCP project seeks to address and contribute further to the development of agriculture through an out-grower scheme, whilst the WAAPP is principally intended to generate and accelerate the adoption of improved technologies in participating countries’ top agricultural commodity priority areas that are aligned with the sub-region’s top agricultural commodity priorities.
The total estimate for the two projects is in the region of US$24 million.
“I have noted with satisfaction, the increased visibility and scope of the [World] Bank Group operations in the country in terms of programming, portfolio size and resource envelop received within the last three years, and we welcome the positive reforms and development taking place at the Bank,” President Yahya Jammeh said at the recent launch of the projects.
In recent years, the World Bank has contributed significantly to building capacities of various institutions in The Gambia, as well as providing the necessary financial support to back up capacity and institutional strengthening.
The World Bank, together with government and key partners, is planning to bring to effectiveness the Budget support project, the Commercial and Agriculture and Value Chain, as well as the Energy Project and Telecom Project (ACE) which is at pre-appraisal stage and due to be implemented in three months’ time.
Agriculture has been the traditional pillar of the Gambian economy, contributing 26.2% of GDP in 2010 compares to 21.6% in 2007, and providing employment and income to the majority of Gambians.
The sector has witnessed a major transformation from traditional small holder subsistence farming to increasing levels of commercial green technology farming.”
However, since agriculture is the mainstay of the economy and having the greatest proportion of the country’s labour force, it needs adequate attention and support to tackle unemployment, food insecurity and poverty.
The GGCP and WAAPP are both timely, since they have been designed to respond and mitigate also the impact of food, fuel, and financial crises that have continued to hit world economies and livelihoods.
“The World Bank is expected to expeditiously finalise the pipeline projects, with full cooperation from government institutions and officials to work closely and actively with the Bank’s officials within the set timelines for the successful completion of the projects,” President Jammeh said.
The Africa Coast to Europe Project, the Budget Support Operations, the Energy Project and the Commercial Agriculture and Value Chain Projects form some of the pipeline projects to be implemented.
Reiterating his government’s commitment to private sector-led growth, President Jammeh says he recognizes the private sector’s role as an engine of growth and, therefore, will work closely with the sector operators through the Ministry of Trade, Industry and Regional Integration, and the GCCI, to ensure the business environment is always conducive to facilitate private sector growth, employment creation and poverty reduction.
In many facets of the business corridor, government works closely with the GCCI by mandating it to act as intermediary between government and the private sector; thus creating the avenue for Gambian business operators to thrive at the national and international markets.
This was manifested recently when the GCCI convened a meeting with key business personnel to reach a food matrix point on prices, in order to ensure a level-playing field for consumers and producers.
“The project’s high level objective is to contribute towards sustaining the growth of The Gambian economy and enhancing poverty reduction through private sector-led growth,” Finance Minister Mamburay Njie said.
“Its key expected outcomes are investment climate reforms to reduce the entry barriers and operating costs of businesses, enhance access to finance and private investment flows, and improve business performance, especially for firms in the tourism and hospitality sectors and linkages between small producers and domestic and international market.”
Carlos Cavalcanti, World Bank’s senior economist in The Gambia, made these remarks as regards the project: “We have always said that the state is our biggest partner, and as such, it constitutes the focus of our development intervention, especially in the areas of its financial, social and productive sectors.
“It is therefore imperative that we invest in institutions, systems and sectors that move the development of the country, hence interventions such as the Growth and Competitiveness Project and the West Africa Agricultural Productivity Project.”
He added: “It is truism that agriculture is a dominant economic sector in ECOWAS, but its low productivity seriously erodes the competitiveness of African products on world and domestic markets.
“WAAPP may thus be viewed as part of a larger commitment by the World Bank to assist countries to enhance long-term food availability by providing mix of support for short-term supply responses and sustainable medium and longer-term investments for increased agricultural productivity.”
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