“This hundred million payment is not merely a transaction; it represents a remarkable achievement and a commitment to results,” she said. “Across the SOE sector, total losses have dropped by 50 percent—from D2.7 billion in 2023 to D1.45 billion by the end of 2024.”
She applauded the GPA Board and management for their cooperation with the SOE Commission and encouraged other enterprises to emulate the Authority’s success.
In his remarks, GPA Managing Director Ousman Jobarteh outlined the key highlights of the Authority’s financial performance for 2024, citing significant improvement across several indicators.
He reiterated that the GPA generated D1.86 billion in revenue, a 10 percent increase from the previous year, while net profit rose to D344 million, a dramatic turnaround from a loss of D97 million in 2023. Total assets increased to D4.19 billion, with a strong current ratio of 12.46, making GPA one of the most financially stable SOEs in the country.
“The D100 million dividend represents 29 percent of our net profit for 2024,” the Managing Director explained. “This is a sustainable and responsible contribution that underscores our role as a reliable partner in national development,” he added.
Jobarteh reaffirmed GPA’s commitment to continued investment in infrastructure, digital transformation, and operational efficiency to enhance regional competitiveness. He also appealed for government support to sustain ferry services and ongoing infrastructure projects, including the acquisition of new ferries for regional crossings.
Delivering the keynote address, Minister for Finance and Economic Affairs, Seedy Keita, hailed the GPA’s performance as a reflection of the government’s ongoing State-Owned Enterprise reform program launched in 2023.
“This dividend payment is a testament to the renewed culture of accountability, transparency, and reform that continues to spread throughout our SOEs,” he said. “It shows that public institutions can function as reliable partners in national development when they are well governed.”
Minister Keita reaffirmed government’s commitment to ensuring all SOEs operate with fiscal discipline and efficiency, adding that the Ministry would continue to strengthen oversight through the SOE Commission. He lauded President Adama Barrow’s leadership in steering the reform process, emphasising that SOEs are transitioning “from a position of liability to a position of performing assets.”
He concluded by urging other public enterprises to follow GPA’s example by submitting timely financial reports and contributing meaningfully to the national treasury.
“The accountability mechanism that the SOE reform has initiated is paying dividends literally and figuratively,” the Minister said, as he joined officials in receiving the symbolic D100 million cheque from GPA.
