By: Momodou Justice Darboe
The Gambia government has reportedly privatized the Mega Bank in a secret deal.
“There are rumors that Gamtel/Gamcel is being sold. Mega Bank has also been sold and we don’t know… This is the kind of transparency that the party leader [ Ousainou Darboe] was talking about [during UDP’s recent press conference]. When you sell national assets, you need to let us know why you are selling them but more importantly, how much you sold them for,” top UDP official Larry Ceesay said in an interview with Coffee Time With Peter Gomez on Tuesday.
“Now, take Mega Bank as an example…Mega Bank was set up with a US $600M initial budget I think and it was recapitalized two or three years ago by another 600 million. Do we know how much Mega Bank was sold for?” he added.
According to Mr. Ceesay, Mega Bank had assets, adding that the bank’s capital base came from taxpayers.
