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Subject:
From:
Alhassan Sisay <[log in to unmask]>
Reply To:
The Gambia and related-issues mailing list <[log in to unmask]>
Date:
Thu, 8 Dec 2005 16:12:50 -0800
Content-Type:
text/plain
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text/plain (821 lines)
        This piece contains explicit details that Gambians may not even know.
  Well while Yaya is busy chasing Gambian brains out of the country those he follows to help him fall back on us here in this place he calls "Reywih rahass palaat" asking us to help them.Yaya Hello! have you ever been told by your powerful spirits that this dossier will fall on my desk one day?
  Not at all.Well Jemus Gambia belongs to Allah not you!
  Watch and see.We will help our country and then leave you melt in shame! I feel it when I hear that people are not receiving power supply for 4 months! Anyway Jemus WARNING!!! do not go bluffing when the lights start shining....Shut the hell up! "Munuloor dara!"

  Read...this is no secret it is for public consumption because those who sent it to me are transparent.
  Che!

    Public Enterprise ProfileS   for  POTENTIAL INVESTORS  Gambia Divestiture Agency  JULY 2005  CONTENTS
  General Overview
  Gambia Telecommunications Company Limited
  Gambia Telecommunications Cellular Company Limited
  National Water and Electricity Company
  Gambia Ports Authority
  Gambia International Airlines
  Gambia Public Transport Corporation
  Gambia Civil Aviation Authority
  Banjul Shipyard Company Limited
  Maintenance Services Agency
  Social Security and Housing Finance Corporation
  Notes






































  General Overview
  The Public Enterprise (PE) Profile is a summary of the features of the Public Enterprises (PEs) in the divestiture programme, providing a snapshot of their operations, including sector policies the types of services being provided as well as financial information. It also provides possible divestiture and regulatory options for the various PEs. PEs under the divestiture programme are divided into two categories, Track I and Track II.

  Track I enterprises are those which are monopolies in most of the services they provide, implying that there is limited private provision of services in their various sectors.  Divesting these enterprises would therefore require extensive legal and regulatory reform.  Sector studies would be commissioned to determine the most optimum method of divesting these companies. The sector studies would look at various restructuring options taking into consideration the existing regulatory framework.

  The PEs under Track I are as follows:

  Gambia Telecommunications Company Ltd. (GAMTEL)
  Gambia Civil Aviation Authority (GCAA)
  Gambia Ports Authority (GPA)
  Gambia Public Transport Corporation (GPTC)
  National Water and Electricity Company Ltd. (NAWEC)
  Social Security and Housing Finance Corporation (SSHFC)
  Gambia International Airlines (GIA)
  Gambia Printing and Publishing Corporation (GPPC)

  Track II PEs are those whose services are provided in wholly competitive product markets and would therefore not require any legal and regulatory reform prior to or after divestiture.

  These enterprises and other Government interests are as follows:

  Gambia Groundnut Corporation (GGC)
  Maintenance Services Agency (MSA)
  Kuntaur Rice Mill (KRM)
  Government shares in Gambia Cotton Company Ltd (GAMCOT)
  Government shares in Banjul Breweries
  Government shares in Senegambia Hotel



















  COMMUNICATIONS

  Gambia Telecommunications Company LIMITED (GAMTEL)
  Overview
  GAMTEL was established in March 1984 under the Companies Act of 1955. It was set up as a Private Limited Liability Company. GAMTEL took over the provision of national and international telecommunications services from Cable and Wireless and the Government Telecommunications Department. GAMTEL is a legal monopoly in the provision of fixed line telecommunications services, with two shareholders the Gambia Government with 3.7 million shares (98.4%) and the Gambia National Insurance Company (GNIC) with 60,000 shares (1.6%). The ownership still remains the same but the structure in terms of percentage has changed. Today the company has an authorized share capital of D60 million (6 million shares valued at D10 per share), issued and fully paid up, with the Gambia Government owning 99% and GNIC 1%.

  In 1995, the company took over the running of Radio Gambia and in 1996 set up the Television Station with most of the financing coming from Societe Generale in the form of a loan. These two entities are now known as the Gambia Radio and Television Services (GRTS). GRTS was hived away from GAMTEL in 2000 and is now a legal entity.

  Sector Policy &#150; Draft National Communications and Information Policy
  (NACIP) &#150; 2000-2008

  The National Communications and Information Policy apart from the Telecommunications Sector covers Broadcasting Services, Post and Courier Services and Print Media services. The objectives of the telecommunications policy are as follows:


      To ensure that reliable basic services are provided to all customers at affordable cost through the Universal Service Obligations;
      To increase the telephone density (or penetration rate) in line with other development objectives and social obligations;
      To provide access to basic telephony for all residents nationwide;
      To provide modern and quality telecommunications services at reasonable cost;
      To maintain the Gambia&#146;s position as a telecommunications centre of excellence;
      To encourage the growth of value-added services through private sector participation;
      To ensure compliance with international technical standards in the provision of telecommunications services and equipment;
      To protect the interest of investors and consumers;
      To encourage the development of skilled human resources of the telecommunications industry;
      To encourage the development of telecommunications manufacturing industry.



  Legal and Regulatory Framework


      A modern Telecommunications law is yet to be enacted.
      A Public Utilities Regulatory Authority Act was enacted by the National Assembly in 2001.  The Act establishes a multisectoral regulatory agency, which has been set up to regulate Public Utilities including Telecoms.


  Capacity Utilisation


      Wired capacity                             52,906 lines
      Installed/equipped capacity         44,405 lines
      Used capacity                               41,159 lines


  Customer Base


      Total number of fixed lines in service            41,159

                Corporate lines                                         16,030 lines

                 Resident lines                                           25,129 lines

                  Waiting List                                            10,611 lines


      Number of main local exchanges 2
      Number of switching remote units 8


  Number of Employees


      1,066


  Financial Highlights                        2001    2002  2003


   Turnover                       D417.8 million     D544.7 million     D759.9 million
   Expenditure                  D292.6 million     D456.9 million     D411 million
   Profit Before Tax          D100.9 million     D98.4 million     D114.2 million

  * Exchange Rate; 1US$=D27.50


  Possible Divestiture Strategies


   Unbundle Services
   Divest Value Added Services

  THE GAMBIA TELECOMMUNICATIONS CELLULAR COMPANY LIMITED (GAMCEL)  Overview
  In May 2001, GAMTEL established a subsidiary GAMCEL to provide GSM cellular Telecoms service. GAMCEL now competes with another private cellular company, which came into the market few months after GAMCEL.
  Customer Base and Geographic Service Coverage   79,524 customers of which 90% service coverage in Greater Banjul Area and 45% coverage in the provinces  Number of Employees
   115

  Financial Highlights                        2001                     2002               2003


   Turnover                       D45.8 million     D213.1 million       D273.4 million
   Expenditure                   D35.9 million    D111.8 million      D185.1 million
   Profit Before Tax           D9.8 million      D102.1 million      D81.7 million

  *Exchange Rate; 1US$=D27.50
  Possible Divestiture Strategies

   Divest Stake
   Joint Venture












    ELECTRICITY AND WATER


  NATIONAL WATER & ELECTRICITY COMPANY LIMITED (NAWEC)

  Overview

  NAWEC established in June 1996 under the Companies Act, is engaged in the generation and provision of electricity, water and sewerage services for domestic, public and industrial purposes. The company succeeded the Gambia Utilities Corporation (GUC) established by an act of parliament in 1972 and the Utilities Holding Company (UHC) established by Presidential Executive Order in 1992. UHC entered into a leasing contract with SOGEA, which formed a company called Management Services Gambia (MSG) Ltd to operate and manage the assets profitably. However this arrangement with MSG was terminated on February 23, 1995, leaving UHC with the management responsibility of the assets.

  NAWEC has an authorised share capital of 50 million ordinary shares at D10 each of which only 6,846,600 shares have been called up and fully paid. The Company is 97% government owned while Gambia Telecommunications Company Ltd (GAMTEL), Gambia Ports Authority (GPA) and Social Security and Housing Finance Corporation (SSHFC) were each, allocated 1% share ownership. So far SSHFC has contributed D4 million, GPA contributed D1 million, while GAMTEL has not contributed anything towards its shares in NAWEC.

  Sector Policy and Legal Framework


   Draft Energy Policy
   Electricity Law Enacted

  Capacity Utilisation

  Water Facilities


   Number of boreholes &#150; 32
   Number of operational boreholes &#150; 31
   Combined yield &#150; about 50,000 m3 per day
   Existing demand estimate &#150; 70,000 m3 per day
   Coverage &#150; Approx. 40% of Greater Banjul Area

  Electricity


   Installed capacity &#150; 44MW
   Available capacity &#150; 30MW
   Available capacity (excluding gas oil engine) &#150; 26MW
   Estimated Peak Load &#150; 35MW
   Estimated Percentage Growth &#150; 17% p.a
   Requirement to match growth &#150; 6MW p.a
   Coverage &#150; 30% of Greater Banjul Area

  Number of Employees


   980 permanent staff members (excludes casual labour)



  Financial Highlights                      2001                    2002                 2003


   Turnover                        D258.2 Mil      D288.9 Mil      D410.5 Mil
   Expenditure                   D303.9 Mil       D376.5 Mil      D448.8 Mil
   Loss Before Tax             D48.0 Mil        D190.8 Mil       D159.7 Mil

  *Exchange Rate; 1US$=D27.50

  Possible Divestiture Strategies


   Public-Private Partnerships
   Independent Power Producers (IPPs)
   Divest billing and other support services

  The electricity and water sectors would be regulated by the Gambia Public Utilities Regulatory Authority (PURA), which has been established.






  TRANSPORTATION

  GAMBIA PORTS AUTHORITY (GPA)

  Overview

  GPA was established by the Ports Act of 1972 to take over the assets and operations of the erstwhile Marine Department. GPA, which is a monopoly in the marine sector, is responsible for the management, operation and development of marine and cargo handling services at the Port of Banjul. It is a strategic entity in the sense that it facilitates international trade and will serve as a focal point in the trade gateway project.

  In 2001, the ferries department was hived off from the Gambia Public Transport Corporation and transferred to GPA. Apart from the provision of ferry crossing services in Banjul, the Ferries Department also operate ferry crossing at eight other crossing points throughout the country. These are at Yellintenda/Bambatenda, Basse, Jarreng, Janjangbureh, Barajally, Sankully Kunda, Bansang and Fatoto.

  GPA, which is wholly owned by the Government, has a share capital of D16.3 million.

  Sector Policy and Legal Framework


   Draft National Transport Policy
   Draft National Transport Plan
   Draft Merchant Shipping Bill
   Draft Maritime Bill

  Geographic Service Coverage

  The GPA&#146;s main port is located in Banjul. It is mainly used for discharging and loading shipment for Container Carriers, Tankers, ro-ro and General Cargo Vessels. It also provides a Navy base for the Gambia Navy and provides a ferry-crossing Terminal for Banjul/Barra crossing. The other port is located in Kaur. It is small and not operational.

  Capacity Utilisation

   Berthing Capacity

  GPA operates with 5 berths and a ro-ro ramp for ro-ro vessels. The new Banjul Jetty&#146;s outer berth 3A and 3B hosts maximum 2 container vessels. Banjul Wharf Jetty&#146;s inner berth number 2 and New Banjul Jetty&#146;s inner berth number 4 are considered to be suitable for smaller vessels such as Fishing and Coastal Vessels. The outer berth number 1 is considered unrestricted since all other non Container Vessels could berth there. However, it is mostly used by Petroleum Tankers and General Cargo Vessels.

  The average length of time these vessels use berths for discharging and loading depends on the kind of cargo it is handling. Container and ro-ro Vessels use an average time of 24 hours, while bulk cargo vessels with a tonnage of 15,000 tonnes use an average of 15 days respectively.









   Container Operation

  Container Storage Capacity


              Container
    Ground Slots
    Max. Stacking Height
    Static Slots1
    Operative Slots2
    Max. Yard Utilisation
      Full Standard North Terminal
    254
    3
    762
    381
    90%
      Reefer PWD
    8
    1
    8
    8
    90%
      Full Standard South terminal
    72
    3
    216
    108
    90%
      Empties PWD
    218
    3
    654
    523
    90%




  Yard Handling Equipment
  The terminal is working with Fork Lift Trucks for full containers and empties. The capacity of the yard handling equipment is related to container moves at the vessel at the rate of 17 moves per hour.


   Bulk Handling Capacity

  The Port handles various commodities as liquid or dry bulk. Some of these commodities are combined in groups. These are petroleum products (Heavy fuel, Jet fuel, diesel and fatty acids), groundnut oil, groundnut cake, cement and related products for construction.

  Petroleum Products
  The average pumping performance in 2001 via pipeline was 147 tonnes per gross hour. The average gross discharge rate from ship to road tanker in 2001 was 31 tonnes per hour.

  Groundnut Oil and Cake
  The GPA has a tank in the vicinity of Warehouse Number 2 where it stores groundnut oil and has a total storage capacity of 2000 tonnes. The tank is connected by a pipeline directly to Banjul Wharf for loading on board the vessels. The average pumping rate is 80-100 tonnes per hour.

  Groundnut cake is also loaded on board smaller vessels, which carry this only in bulk. The loading rate in bulk is 600 tonnes per day (on a 22 working hour basis) with two loading points.

  Cement in Bulk
  Bulk is received in consignments of maximum 8-10 thousand tonnes per vessel due to existing draft restriction. The vessels are discharged by one mobile diesel-electric Siwertel Conveyor System at the pier with a technical capacity of 85-100 tonnes per hour.

  General Cargo
  Break bulk are commodities delivered in bags and full vessels or holds goods such as rice, flour, sugar, cement in bags and fertilizer. Break bulk vessels discharge between 5000-7000 tonnes on average. Gross performance varies between 7 to 13 tonnes per hook and hour gross. Bagged cargo is delivered directly from the vessels hook to consignees&#146; truck.

  Capacity Utilisation (Ferry Services)

            Geographic Location
    Name of Ferry
    Maximum Capacity
    Average Capacity
    General Remarks
      Pers.
    Veh.3
    Pers.
    Veh.
      Banjul/Barra
    Barra
  Johe
    400
  400
    24
  24
    262
  262
    15
  15
    4 Engines
  4 Pumpjets
      Yellitenda/Bambatenda
    Barajally Badibu
    150
  70
    24
  8
    150
  50
    12
  8
    2 Engines
  2 Pumpjets
      Basse
    Sandugu Bolong
    40
    5
    10
    5
    Motorised
      Jarreng
    Niamina
    80
    -
    60
    -
    Motorised
      Janjangbureh
    Janjangbureh
    80
    3
    10
    3
    Motorised
      Barajally
    Niani
    80
    3
    10
    3
    Motorised
      Sankully Kunda
    Fulladu
    30
    2
    10
    2
    Motorised
      Bansang
    Tesito II
    40
    1
    10
    1
    Dumb Ferry
      Fatoto
    Kantora
    40
    1
    10
    1
    Dumb Ferry



  Customer Base

  The customer base of the GPA can be classified into the following categories:


   Shipping Line/Agencies
   Local Businessmen (Importers/Exporters)
   Petroleum and Oil Companies & National Water and Electricity Company
   Clearing and Forwarding Agencies
   General Public and Truckers for onboard ferry crossing


  Number of Employees

  Gambia Ports Authority      586
  Ferry Services Department  320

  Financial Highlights                 2001                  2002                       2003


   Turnover                  D150.0 million       D231.0 million       D399.0 million
   Expenditure             D92    million         D132   million       D241 million
   Profit Before Tax     D 31.2 million        D40.2 million       D57.0 million

  *Exchange Rate; 1US$=D27.50



  Possible Divestiture Strategies


   Divest Stevedoring
   Lease Cargo Handling




  Gambia International Airlines  lIMITED (GIA)  Overview
  GIA was created in 1996 under the Company&#146;s Act of 1955 following the liquidation of Gambia Airways Ltd, which was incorporated in 1964 with an authorized share capital of 100,000 ordinary shares at D5.00 each. GIA has an authorized share capital of 10 million ordinary shares at D10.00 each  (of which 1,676,000 issued) is 99% Government and 1% GAMTEL owned. The company is engaged in the airlines business and currently in Charter operations with Futura, a Spanish Airline. Other activities of the company include ground handling, ticket and cargo sales, hajj and passenger services.
  Capacity Utilisation
      Ground handling 60%


      Cargo operation sub-region 12%


      Flight operation sub-region 12%

  Customer base
      The customer base is local, regional and international rendering ground handling services to all flights in to Banjul

  Number of Employees
      Ranges from 250-300


  Financial Highlights                      2001                  2002                          2003


   Turnover                       D65.5 million      D148.0 million     D242.8 million
   Expenditure                  D62.9 million       D145 million     D229.4 million
   Profit Before Tax          D1.4 million         D483,000             D13.2 million

  *Exchange Rate; 1US$=D27.50
  Sector Policy and Plan

   National Transport Policy
   National Transport Plan
  Possible Divestiture Strategies

   Open up Ground handling at Airside
   Joint Venture




  GAMBIA PUBLIC TRANSPORT CORPORATION (GPTC)

  Overview

  An Act of Parliament established the Gambia/Libya Arab Public Transport Corporation in 1976. This Act was amended during the 1987/88 financial year and the Gambia Public Transport Corporation (GPTC) was established. The main objective of the Corporation under this Act is to &#147;operate and maintain the public transport services of The Gambia for the conveyance of passengers and goods&#148;.

  The Company started its operations with only one shareholder, the Gambia Government with 3 million shares. The ownership remains the same but the structure in terms of the number of shares has changed. Following the merger of the former Gambia Ferry Services Ltd with GPTC in 1993, the company&#146;s authorised share capital increased to D50 million (5 million shares at D10 per share). The objectives of the Corporation were amended to include &#147;operating and maintaining ferry services and in-land water-way transportation&#148;.

  In 2001 the Ferries Division of GPTC was hived off and transferred to the Gambia Ports Authority.

  Capacity Utilisation
  The current means of bus transportation &#150; the large bus with a minimum of 50 passengers &#150; used by GPTC, offers the opportunity for mass transportation over long distances. But the GPTC presently has a fleet size of 51 (fifty-one) buses only, which is approximately 50% below the minimum number required to serve current demand.  Number of Employees
   The staff complement is at present 380 at five depots named Kanifing, Essau, Farafenni, soma and Basse

  Financial Highlights                      2001 (est.)          2002 (est.)


   Turnover                       D53.9 million        D25.0 million
   Expenditure                  D59.3 million         D31.0 million
   Loss Before Tax            D4.7 million           D5.4 million

  *Exchange Rate; 1US$=D27.50
  Possible Divestiture Strategy

   Joint Venture


    Gambia Civil Aviation Authority (GCAA)
  Overview
  GCAA was until December 1st 1991 a Government Department transformed into a Public Enterprise by an Act of Parliament and is 100% Government owned. On inception it was agreed that Government transfer D3 million as working capital to the Authority and this amount was deemed to be the authorised capital. On August 31, 1995, the Authority was authorized to convert the Gambia Government loans to the Authority, which stood at D139.7 million into equity capital.

  The Authority is engaged in the regulation of air navigation and air transport, the operation of Banjul International Airport, and the provision of navigation aids.
  Capacity Utilisation
   The Terminal building with a floor space of 9,000 m2 and an annual throughput capacity of one million passengers has a capacity utilisation rate of 30%.

   Potential 1,800 hectares of land available for commercial developments and only about 10% of this is being currently utilized.
  Customer Base and Geographic Service Coverage
   The customers to the Gambia Civil Aviation Authority include, airlines, tour operators, passengers, ground and cargo handling agents, fuel farms, duty free and other retail concessionaires.

   The geographical service coverage area is both national and international.
  Number of Employees
   The GCAA has 466 employees

  Financial Highlights                      2001 (est.)           2002 (est.)


   Turnover                       D63.6 million         D68.6 million
   Expenditure                   D67.65 million       D75.7 million
   Loss Before Tax            D4.0 million           D7.0 million

  *Exchange Rate; 1US$=D27.50
  Possible Divestiture Strategies

   Concessions


   Management Contract for Airport Terminal


  BANJUL SHIPYARD COMPANY LIMITED  Overview  Banjul Shipyard, which is a subsidiary of the Gambia Ports Authority, is a boat building/maintenance company with supporting workshops for carpentry, welding and fabrication, machining and electrical services. It has a share capital of 10,000 shares at D100 each.  Customer Base and Geographic Service Coverage
   Being the only vessel maintenance centre, all the fishing trawlers, Navy boats, ferries, tourists boats in the country have their repair services at the yard.

   The customer base covers the sub-region comprising the neighbouring countries like Senegal, Guinea Bissau, Cape Verde and beyond.

   Cargo vessels that visit the Gambia Ports Authority also request for maintenance services especially in case of accidents.
  Number of Employees  Banjul shipyard has registered staff of 35 which excludes 4 staff on secondment from the GPA
  Financial Highlights                      1999                   2000


   Turnover                       D1.4 million        D1.0 million
   Expenditure                   D2.9 million        D3.2 million
   Loss Before Tax             D1.5 million        D2.1 million

  *Exchange Rate; 1US$=D27.50

  Possible Divestiture Strategy


   Joint Venture
  MAINTENANCE SERVICES AGENCY (MSA)  Overview
  MSA was established in October 1995 by an act of Parliament to take over the operation of the then Kotu Central Workshop. The main objective of the Agency is to maintain and repair motor vehicles, plant and machinery for government and the private sector. The company started its operations with a loan of D3 million from the government. The company had and still has two shareholders, the Gambia government with 99% of the issued shares and GPTC with 1%. GPTC is yet to pay for its 1% of the share ownership. Total authorized and issued shares is 300,000 valued at D10 each. Value of the Gambia Government share capital is D2.97 million and that of GPTC D30,000. MSA is another PE that operates in a very competitive environment
  Capacity Utilisation

   Low
  Customer base and Geographic Service Coverage

   Public and Private customers nationwide
  Number of Employees
   82

  Financial Highlights                    2001                     2002   2003


   Turnover                       D4.7 million       D3.6 million D6.2 million
   Expenditure                   D2.5 million       D2.5 million D3.2 million
   Profit/Loss Before Tax  D0.28 million    ( D66,665 )        (D1,071,003 )



  *Exchange Rate; 1US$=D27.50
  Possible Divestiture Strategy

   Divest Stake

  SOCIAL SECURITY AND HOUSING FINANCE CORPORATION (SSHFC)

  Overview

  SSHFC was established with the enactment of the Social Security and Housing Finance Corporation Act in 1981 to administer and manage the Federated Pension Scheme (FPS), the National Provident Fund (NPF) and Housing Finance Fund (HFF). The FPS and the NPF, which constitute the Social Security Fund, were introduced by the Government to provide retirement benefits to employees of Public and Private sector establishments. The HFF&#146;s mandate is to administer and manage low cost housing estates on behalf of Government, make direct investments in housing and real estate projects either alone or in partnership with other bodies and finance housing development projects in The Gambia.

  In June 1990, the Government of The Gambia passed into law the injuries compensation Act. This effectively replaced the workmen&#146;s Compensation Act of 1940. However, it was not until July 1996 that the new scheme was formally launched introducing a social insurance scheme for the protection against employment injury.

  Customer Base

  The corporation&#146;s customer and client base is global with the introduction of the BRUSUBI project. In addition to those living within the country, many Gambians abroad have registered their interest to share in the products on offer. Many have already been allocated plots of land and some have already have houses built for them.

  Regarding the Social Security Scheme, Coverage is now confined to the local Market. A total of 2,627 employers and 67,015 employees are registered members of the NPF. The majority of these employers are located within the Greater Banjul Area and the Western Division.

  Under the FPS, a total of 68 employers and 6,620 employees (Dec. &#146;04) are registered members of this fund. This Scheme is basically for employees of public enterprises within the confines of the country. The IICF covers all employees within the formal sector. By end Dec. 2004, a total of 1053 Civil Servants and 1295 Local Authority employees were registered with the scheme.

  Number of Employees
   204

  Financial Highlights                      2001              2002        2003     2004


   Income                            D193.3 m   D253.9 m   D382.7 m   D524.6 m
   Expenditure                    D105.7 m    D125.5 m   D241.0 m   D302.4 m
   Net New Money
      Available for Investment D87.6 m     D128.4 m    D141.7 m   D222.2 m



   Return on Investment            12%         13%            22%

  *Exchange Rate; 1US$=D27.50







  Possible Divestiture Strategies

  The study on the divestiture options for SSHFC is ongoing and without pre-empting the outcome of the study we here propose divestiture strategies for SSHFC.


   Institutional Restructuring
   Liberalisation of Pension Fund Management




    AGRICULTURE


    GAMBIA GROUNDNUT CORPORATION (GGC)


  Overview

  The Gambia Produce Marketing Board (GPMB) was a government owed company responsible for groundnut processing and marketing until 1993 when the assets of the firm were sold to Alimenta S.A. The owners renamed the firm the Gambia Groundnut Corporation a name that it still retains even under government ownership. The company is currently involved in transportation and processing as its marketing function ceased since 1999 following the departure of Alimenta S.A.

  Shelling Capacity



   Denton Bridge

                      Installed capacity                         480 tonnes per day
                  Achieved capacity                        300 tonnes per day

                  HPS production                           60 tones per day



   Kaur Plant

         Installed capacity                                  720 tonnes per day

         Achieved capacity                                200 tonnes per day


  Number of Employees

  Permanent &#150; Active                         118
  Permanent &#150; Contract                      31

  Seasonal &#150; off season (River)           10
  Daily rated &#150;off season (River)        16
  Seasonal &#150; peak period                    171
  Daily rated &#150; peak period         182
  Total                  528

  Customer Base

  Currently GGC provides handling, storage, river transport and decortication services to other parties (locally base business operators in the groundnut sub-sector) for a fee. These operators export the products (HPS and FAQ) to overseas markets, mainly the EU countries. Some of the operators process the FAQ into oil and cake, again for export.


  Financial Highlights                      2002                      2003


   Turnover                       D17.9 million        D 4.5 million
   Cost of Sales                  D19.2 million        D16.6 million
   Administration Costs      D4.4 million         D3.9 million
   Loss Before Tax             D1.3 million          D 12 million

  *Exchange Rate; 1US$=D27.50


  Possible Divestiture Strategy


   Divest Stake




























  For More Information, Interested Parties Can Contact:

  Chief Executive
  Gambia Divestiture Agency
  80 OAU Boulevard
  P. O. Box 391
  Banjul, The Gambia
  West Africa

  Tel: 220-4202530/1
  Fax: 220-4202533
  Email: [log in to unmask]
  Website: www.gda.gm






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