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Gamtel/Gamcel State of Accounts and Finances in Focus

Aug 21, 2008, 8:33 AM | Article By: By Abba Gibba & Baboucarr Senghore

The true and full picture of the state of the finances and accounts of Gamtel/Gamcel, the country's telecommunication and cellular companies, continues to occupy the minds of many each passing day.

Gamtel/Gamcel, 50 percent of whose shares was sold to Spectrum company, a Lebanese owned company, on 1st August, 2007, has since then been making headlines as to the state of affairs of the companies.

According to latest reports by the joint sessions of the Public Accounts and Enterprises Committees of the National Assembly, Gamtel/Gamcel required further clarifications and consultations with regard to the true and full picture of the state of finances and accounts of both companies.

The committee went further to call on the management of Gamtel/Gamcel (Spectrum), the Department of State for Finance and Department of State for Communication and Information Technology, to make recommendations on reporting mechanisms for the future.

The committee however expressed grave concern with the partial or ill preparedness of the overwhelming majority of Public Enterprises and Agencies to comply with and conform to parliament's statutory mandate to exercise scrutiny and oversight role.