#Headlines

Manjang rejects Barrow’s appointment

May 5, 2020, 1:44 PM

Former managing director of Social Security and Housing Finance Corporation (SSHFC), Mohamadou Manjang has rejected Barrow’s recent appointment. This development comes barely a week after his redeployment to the Senegalo-Gambian secretariat.

In a letter dated 4th May 2020 and seen by The Point, the former SSHFC boss expressed gratitude to the government and leadership of the country for the confidence reposed in him and affording him the opportunity to head the Social Security and Housing Finance Corporation from 7th March 2017 to the date of his redeployment.

The letter reads; “I refer to the PMO’s letter referenced; C13/12/01/ (70) dated 28 April on the above subject. Appointment and Redeployment. The contents are well noted, I am honoured by the offer. Unfortunately, I cannot take up this new offer at this time. My training, professional experience and skillset is in finance, management and control of financial institution. Therefore, I will not be doing justice to the Government or myself in taking up a role that requires diplomacy and or expertise in foreign affairs. I am grateful for the confidence that the government and more specifically the President has placed in affording me the opportunity to head the Social Security and Housing Finance Corporation from 07 March 2017 up to date.

During my tenure, we have able to manage cost down from a high D271 Million in 2016 to D148 Million in 2019.  We have been able to grow income from D265.5 Million in 2016 to D309.5 Million in 2019 and the bottom line operating profit from D1.5 Million loss in 2016 to D138 Million profit in 2019. The Corporation is highly liquid, having Grown Bank Terms deposit and Treasury Bills from D700 Million by the end of 2016 to   D2.1 Billion (net of new investments in GTSC) by the end of 2019. Our investments including equities are performing strongly. The corporation is operationally more robust with marked improvement in our professionalism and service quality”.

This, he said, was achieved not without challenges, further expressing gratitude to the government for the much-needed support to him during those difficult times.

“Undoubtedly, my sole objective was to be of service to my country, I hope have rendered my stewardship with diligence and the required standard of professionalism”.

The Corporation, he said, is therefore in a strong financial standing, thanks to the support from the staff, management and board of director of the SSHFC. Together we have delivered a result that are self-evident.

“As I take leave, I have confidence in the team and I am sure under the able leadership of the board, they will continue the high trajectory that we have set”, the letter reads.

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