Mr President, we can - and must - learn from our neighbours who have walked this path before us.
Senegal: The LAS Model for Growth: “Strong partners, strong results.”
Structure: In 2016, Senegal awarded a 25-year concession to LAS (Limak–AIBD–Summa).
Impact: €575 million invested, capacity increased to 5 million passengers/year, and additional €100–300 million raised for “Air Hub 2035” expansion.
Innovation: PRAS programme ($176m) upgrading regional airports to spread benefits beyond Dakar.
Takeaway: Choose partners with the capital, expertise, and vision to expand capacity, cargo, and non-aero revenues far beyond the initial build.
Sierra Leone: The BOT Sustainability Approach: “Clear revenues, clear responsibilities.”
Structure: In 2020, Sierra Leone signed a Build–Operate–Transfer agreement with SUMMA for a $270 million terminal at Lungi, over a 25-year term.
Outcome: New, modern facility delivered; Passenger Service Charge adjusted from $25 to $35 to ensure cost recovery.
Takeaway: Align tariff frameworks with operational sustainability and ensure investor certainty through predictable regulation.
Ghana: The State-Led Financing Route: “Infrastructure delivered, revenues challenged.”
Structure: State-owned Ghana Airports Company Ltd retained full control, financing projects like Kotoka Terminal 3 ($250m + $120m AfDB + $30m GIIF) and Tamale Int’l ($70m UK Export Finance).
Challenge: While assets are modern, some regional airports underperform commercially due to the absence of private-sector efficiency.
Takeaway: State-led builds can deliver quality, but without commercial discipline, performance may lag.
Key Takeaways for The Gambia
Bankable Structure: Balance risk to attract investors without compromising national interests.
Operational Excellence: Proven track record in airport O&M, with clear KPIs for service, safety, and financial performance.
Sustainable Financing: Equity + development finance + ECA mix to avoid heavy sovereign borrowing.
Balanced Tariffs: Transparent, regulated charges to ensure affordability and sustainability.
Local Participation: Technology transfer, Gambian workforce training, and local business engagement.
Future-Proofing: Scalable design, smart systems, and green energy integration.
Guidance for Tender Evaluation
Mr President, as the tenders come in, prioritise experience over promises, select proven delivery partners with African or similar market experience.
Require financing certainty - demand binding commitments, not aspirational letters.
Embed local content obligations - ensure skills transfer and long-term employment for Gambians. Utilise the expertise of Gambians in the private sector with unparalleled knowledge and experience in managing public private partnerships as transaction advisers.
Institute robust oversight - regular reviews, enforceable penalties, and clear termination clauses for non-performance.
Finally, Mr President, this decision is not simply about building an airport - it is about building The Gambia’s economic future. By blending Senegal’s growth-oriented concession, Sierra Leone’s sustainable BOT, and Ghana’s cautionary lessons, we can secure a deal that delivers world-class infrastructure, strengthens tourism, enables trade, and benefits our people for decades.
Mr President, “The tender before us is not just about building an airport terminal—it is about building a future.” The Airport and the Seaports are the Gateways of The Gambia.
To contextualise, Mr President, the prior rehabilitation Phase II under your Government totals US$34.9m via OPEC Fund, KFAED, SFD.
Good day!