By: Fatou Krubally
The Chairman of the Gambia Ports Authority (GPA), Kebba Tamsir Njie, has told the National Assembly’s Public Enterprise Committee (PEC) that the authority is concerned over the absence of its representatives on the newly constituted board of the Gambia Ferry Services Company, despite being the majority shareholder.
Mr. Njie raised the issue on Tuesday during the committee’s consideration of audit reports on the Banjul Port Expansion Project after lawmakers sought the authority’s views on recent developments at the ferry company.
He said the GPA, which holds an 80 percent stake in the company, was surprised by the constitution of the new board without representation from the authority.
According to Mr. Njie, the GPA has made significant investments in the ferry company over the years and remains closely involved in its operations and financial obligations. He said major governance changes affecting the company should be preceded by broad consultation among key stakeholders.
He told the committee that the authority was concerned that any restructuring process should be handled carefully to avoid future operational and financial challenges.
Mr. Njie stressed the need for dialogue and consultation to ensure that decisions taken are in the best interest of the company.
Supporting the chairman’s position, GPA Managing Director Ousman Jobarteh said the issue should be viewed within the framework of a parent-subsidiary relationship.
He explained that the Gambia Ferry Services Company is registered as a limited liability company in which the GPA owns 80 percent of the shares, while the government holds the remaining 20 percent.
Mr. Jobarteh says the authority continues to provide both management and financial support to the ferry company and questioned who would assume responsibility for future financial obligations, including counterpart funding required under ongoing development projects.
Members of the Public Enterprise Committee also sought clarification on the composition of the new board after learning that the GPA had not been represented.
Lawmakers underscored the importance of understanding the company’s governance arrangements in light of the authority’s majority shareholding.
The discussion dominated the latter part of the hearing which had initially focused on audit findings relating to the Banjul Port Expansion Project.
The committee subsequently adopted the audit reports and requested follow-up action on several audit recommendations. It indicated that the governance of the Gambia Ferry Services Company and the GPA’s absence from its new board could be the subject of further engagement as part of its oversight of public enterprises.