His Excellency President Adama Barrow today presided over a dividend signing ceremony at the State House in Banjul, where the Government of The Gambia received D137 million from State-Owned Enterprises (SOEs).
The contributing SOEs include the Gambia Civil Aviation Authority, Gambia Publishing and Printing Corporation, Gambia Ports Authority, Gambia National Petroleum Corporation, and Gambia Radio and Television Services. This collective remittance marks a significant milestone, reflecting progress that extends beyond the financial value of the dividends.
In 2023, following the establishment of the SOEs Commission, the sector recorded a net loss of D2.3 billion, which further increased to D2.6 billion in 2024. However, in the 2025 fiscal year, the SOEs achieved a consolidated net profit of D2.5 billion representing a remarkable D5.1 billion turnaround, equivalent to a 196% improvement within just twelve months.
Delivering his remarks, President Barrow attributed this success to the government’s deliberate, sustained, and evidence-driven reform agenda, emphasizing governance, accountability, and performance management of SOEs. He expressed sincere gratitude to the Commissioners for their commitment to delivering quality public services and commended the line ministries for providing strategic direction and oversight.
The President also acknowledged the electricity challenges facing households, assuring citizens that government is firmly committed to addressing them.
Chairman of the SOE Commission, Mr. Ousainou Ngum, praised President Barrow’s leadership and highlighted the critical role of SOEs in driving industrialisation and strengthening the economy. He reaffirmed the Commission’s commitment to building on the tone set by the President.
The event reinforces the relationship between Government and SOEs, defined by mutual contribution to national development. Earlier in a presentation of the Financial Report on twelve SOEs, it was concluded that despite the significant progress in 2025, SOEs need to deliver efficient, effective, timely and affordable public service and improve on financial management, emphasising that they have the potential to contribute more effectively to national development.
Hon. Babucarr Bouy, Minister for Public Service, Reforms and Strategic Policy Delivery; Hon. Nani Juwara, Minister for Energy and Petroleum, Hon. Ebrima Sillah, Minister for Works, Roads and Infrastructure; Board of Directors, Permanent Secretaries and senior officials of the line Ministries of the SOEs witnessed the ceremony, which was chaired by Mr. Alieu Loum, Chief of Staff to the Presidency.
