Five state-owned enterprises, SOEs, handed over cheques totalling D137 million in dividend payments to President H.E. Adama Barrow at a ceremony held at State House on Tuesday. The unprecedented development marks a milestone in government-SOE relations, following reforms aimed at making the enterprises more profitable, better managed, and financially viable.For the first time in The Gambia’s history, SOEs lined up at State House not to request bailouts, but to return dividends worth over D130 million to the President.Board chairpersons, managing directors, and officials of the State-Owned Enterprises Commission gathered in the Cabinet Room to witness the ceremony. The five SOEs and their contributions were:1. Gambia Ports Authority: D70 million.2. Gambia National Petroleum Corporation: D50 million.3. Gambia Civil Aviation Authority: D5 million.4. Gambia Publishing and Printing Corporation: D5 million.5. The Gambia Radio and Television Services: D2 million.Chief of Staff to the President, Alieu Loum, who chaired the event, described it as unique. “The SOEs have fulfilled their obligations to government and to Gambians,” he said.The Chairman of the SOE Commission, Ousainou Ngum, said since the commission’s establishment three years ago, there has been remarkable improvement in the operations, management, and performance of state enterprises. He expressed hope that this transformation will continue, starting with this first dividend payment. Ngum also commended President Barrow for his leadership, oversight, and support to the commission and SOEs.In his keynote address, President Barrow described the ceremony as historic, noting it marks a turnaround for SOEs that, until 2024, were running a combined net loss of D2.4 billion. He attributed the performance to his government’s deliberate, sustained, and evidence-driven reform agenda focused on governance, accountability, and performance management.The President praised the SOE Commission for transforming public perception of state institutions and promoting efficiency. However, he urged all stakeholders to build on these achievements to address challenges affecting growth, liquidity, and profitability.President Barrow also reassured Gambians that the government will continue robust measures to end recurrent power cuts. He noted that NAWEC has improved its financial performance, enabling investment in the energy sector.He concluded by urging all SOEs to maintain the momentum, as the government remains committed to building efficient, functional, and robust state enterprises that deliver for the Gambian people.
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