The chair of PEC, Hon. Lamin J. Sanneh of Brikama North, while tabling the report before deputies of the National Assembly, said: “During the auditors’ trend analysis review on the performance of the company, they noted a sharp decline in the performance of the company over the three year period which raised a question on the long-term sustainability of the company.”
“In 2018, turnover was D393.5 million and going down to 2020, it’s D200.2 million, giving a decline of D193 million within the 3-year period,” he read from the report.
“The Committee recommends that the board and management ensure the company’s revenue generation capacity is strengthened to improve its performance and position going forward.”
Hon. Sanneh revealed that ex-staff of the Gambia Ferry Services Company Ltd. owed the company loans amounting D402.872 and it’s not being followed up.
“From the test of controls procedures performed on the credit controls relating to the ex-staff loan balances, the auditors noticed no evidence of follow ups to recover outstanding balances due.”
The Committee therefore recommends the board and management to make follow ups on these ex-staff loans and to resort to guarantors for recoveries.
The PEC also states that the board should ensure the process is documented and seek legal advice.
