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Gov’t, institutions owe SSHFC more than D1.6bn Finance Minister reveals

Jul 9, 2020, 12:05 PM | Article By: Sankulleh Gibril Janko

The Gambia government and six of its parastatals owe the Social Security and Housing Finance Corporation (SSHFC) more than 1.6 billion dalasis, Finance and Economic Affairs Minister Mamburay Njie revealed on Wednesday at the National Assembly.

The Finance minister was responding to a question posed by the deputy speaker of the National Assembly as far back as December.

It has been revealed by the head of the Finance Ministry that as of June 2019, the government of The Gambia in fact is the second biggest debtor to Social Security and Housing Finance Corporation behind the National Water and Electricity Company NAWEC.

Despite its continuous failures to provide consistent and adequate water and electricity to the people of the country, NAWEC is the biggest debtor, owing Social Security a whopping 892,832 million dalasis.

Government of The Gambia is the second biggest debtor to and owes SSHFC the sum of 421,577 million dalasis.

The third biggest government institution is Gambia Groundnut Corporation GGC which owes the finance corporation GGC 222000000,298 (two hundred and twenty two million, two hundred and ninety eight).

Gambia Civil Aviation Authority GCAA also owes SSHFC a staggering ninety two million, six hundred thousand (GCAA 92000000600, 000)

The Finance Minister also told the lawmakers that the state broadcaster, Gambia Radio and Television Services (GRTS) also owes Social Security GRTS 47000000,950 (forty seven million nine hundred and fifty)

The institution with the least amount is Gambia International Airlines (GIA) owing just fifteen million nine hundred and eighty two thousand (15, 982000).

The total of the six mentioned institutions including the government amounts to 1000000000,693245000.

According to records, eight institutions owe SSHFC but Finance Minsiter Njie only provided information on the six above mentioned institutions.

Quizzed about how much Gambia Ports Authority and Gambia Telecommunications GAMTEL, the minister at the time of this report could not provide any information, saying he did not have it at hand.

This did not please the parliamentarians who claimed he had enough time since December 2019 to provide all the necessary information on the matter.

Minister Njie, however, said mechanisms are in place to ensure these institutions will be obliged to pay their debts and he said some of them have gradually begun paying.

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