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Current Feed ContentEconomic growth forecasted at 6.5%![]() Friday, August 29, 2008 Bamba Saho, the governor of the Central Bank of The Gambia, has said the country’s economy is forecasted to grow at 6.5% in 2008, premised on a strong rebound in agricultural output and the continued growth in services and construction sectors. Money supply grew by 8.5% in the year ended June 2008, compared to 12.9% a year earlier. Quasi money rose by 13.0% and narrow money by 4.0 percent. From end December 2007, money supply grew by 2.7 percent while reserve money contracted by 6.3 percent. Governor Bamba Saho made this disclosure at the meeting of the Central Bank of The Gambia’s Monetary Policy Committee, held, yesterday, at the conference hall of the Central Bank of The Gambia. According to him, the total revenue and grants for the first six months of 2008 declined to D1.9 billion or 3.6 percent compared to the corresponding period in 2007. The decline is attributed to the lower than projected tax and non-tax revenue. Total expenditure and net lending increased to D2.0 million or 13.6 percent compared to the first half of 2007. The overall budget balance including grants on commitment basis was a deficit of D113.0 million or 1.3 percent of GDP. Excluding grants, the deficit widened to D164.4 million or 1.8 percent of GDP. Bamba Saho added that the inter-bank foreign exchange market continues to be vibrant, saying that from the end of December 2007 to July 2008, the Dalasi strengthened by 7.1 percent, 4.9 percent, 1.9 percent and 1.5 percent against the US dollar, pound sterling, Euro and CFA franc respectively. However, the Dalasi, he went on, depreciated slightly against all the major currencies between June and July 2008. The banking industry’s total assets also increased to D11.3 billion or 12.2 percent from end June 2007. Mr Saho noted that the commercial banks’ loans increased to 83.0 billion in June 2008 or 33.2 percent from a year ago. Loans and advances to all the major economic sectors increased excepting agriculture, which decreased by 50.4 percent to D157.7 million. Credit, fishing, building, construction, transportation and distributive trade increased by 6.6 percent, 95.4 percent, 78.5 percent and 37.8 percent, respectively. Tourism, personal loans and other loans rose by 14.7 percent, 25.5 percent and 65.0 percent from the previous year. The Central Bank governor further revealed that from the beginning of the year 2008, total domestic debt increased to D6.1 billion (33.5 percent of GDP) or 10.4 percent of total outstanding treasury bills, amounting to 80.7 percent of total domestic debt, increasing to 4.9 billion or 2.4 percent. The bulk of the treasury bills continue to be in the 364-day bills, constituting 68.9 percent, whilst 182-day bills and 91 day bills accounted for 20.5 percent and 10.5 percent of the stock, respectively. The end period inflation measured by the National Consumer Price Index (NCPI) was 3.8 percent at the end of July 2008 compared to 6.3 percent in July 2007. On the inflation outlook, the governor said inflation is forecasted to remain in single digits; however, there were risks to the outlook relating to the persistent surge in global energy and food prices. The monetary policy committee has decided to maintain the rediscount rate, and the policy rate at 15.0 percent. The MPC would continue to monitor changes in economic conditions and respond appropriately in order to discharge its mandate to maintain price stability. The next meeting of the monetary policy committee would be held in October 2008, the Central Bank declared to the audience. Author: by Sanna Jawara Taiwan gives US$70,000 for Sifoe school projectWednesday, August 20, 2008 The Taiwanese ambassador, recently, presented a cheque for US$70,000 to the Department of State for Basic and Secondary Education (DOSBSE) as part of his government’s support for the construction of a modern senior secondary school at Sifoe Village, Western Region. Presenting the cheque, Ambassador Shih stressed the importance of education as an important pillar of development and reinforced his country’s desire to stand by The Gambia in this crucial area of national development. Receiving the cheque on behalf of the contractor, Gambia Technical Training Institute (GTTI), Fatou Lamin Faye, the secretary of state for Basic and Secondary Education, thanked the government of Taiwan, through Ambassador Shih for its continued support to the project and The Gambia as a friend. She welcomed the gesture and expressed satisfaction with the progress of the project. Fatou Mbye, the director of GTTI, thanked the Taiwanese Embassy for the trust and confidence bestowed on her institute to undertake the construction of the school and described the presentation of the cheque as timely. Kunkung Jorbateh, the deputy permanent secretary at the Department of State for Basic and Secondary Education, who chaired the ceremony, also thanked the government for its continued support for The Gambia’s projects. NYSS boss returns from Benin![]() Wednesday, August 13, 2008 Musa Mbye, the executive director of the National Youth Service Scheme (NYSS), recently returned from the Songhai Centre of Porto-Novo, Benin, where he was for a week at the invitation of the ECOWAS Youth and Sports Development Centre. Quizzed about the differences and similarities between the Songhai Centre and the NYSS Nyaniberi farm, Mbye noted that Songhai is a private voluntary organisation that seeks to create viable socio-economic environments in Africa by developing human capacities for the empowerment of individuals and groups as active members of the society and also to develop a resilient integrated program that links agriculture with industry and commerce. “Songhai Centre is an arena where Africans learn and put into practice the principles of self-determination by unleashing the creative potentials of its members and cultivating a strong sense of rational use of local resources. Songhai’s primary activity is the training of young Africans by the transfer of technical skills through practical and human training, so that they become capable of creating and managing viable enterprises such as agriculture, processing of agricultural products and marketing, small construction industries (production of stabilized blocks, design and construction of low-cost housing) electrical and mechanical workshops and also community development,” the NYSS boss explained. Author: DO Julakay Faces Another D4.5M Theft Case![]() Monday, August 04, 2008 Mr. Ansumana Marena, better known as Julakay, Managing Director of Julakay Construction and Engineering Company Limited, is entangled in yet another theft case at the Kanifing Magistrates’ Court. Mr. Marena is being arraigned for allegedly stealing 88 pairs of toilet tanks, 50 pairs of wash hand basins, 74 pairs of wash hand stands, 57 pieces of sheet covers, 14 rolls of conduits, 9 cartons of fluorescent (4F), 50 pieces of wash hand basins, 50 complete sets of toilet seats and 51 pieces of other fittings, valued at D4.5 million, the property of Julakay Construction and Engineering Company Limited, a charge he denied. Meanwhile he was offered a court bail on the deposition of D4, 500, 000.00 or the provision of two Ganbian sureties, one of whom must have a landed property of that value, the title deed of which is to be deposited with the Assistant Registrar. Julakay is also involved in two theft cases at the Banjul Magistrates’ Court charged with various criminal offences. In the first case he was charged for allegedly stealing the sum of D13, 587, 782.41, the property of Julakay Construction and Engineering Company Limited whilst in the second case he is being charged on three counts of stealing, making false documents and uttering false documents. In that particular case he is being accused of having stolen a motor vehicle (L200, Mitsubishi) valued at D600, 000, also the property of Julakay Construction and Engineering Company Limited, and fraudulently presenting a false document dated He denied both charges. He was granted court bail of D500, 000.00 in each case. Asumana Marena is said to own 30% shares of Julakay Construction and Engineering Company Limited, whilst jailed former Majority Leader, Baba Jobe, owns 40%, Foday Lang Sarr 15% and 15% in the name of the Company. Author: By Dawda Faye & Yerro Mballow Source: Picture: Ansumana Marena D10M school foundation stone laidFriday, July 25, 2008 As part of the activities marking the 14th anniversary of the July 22nd Revolution, the secretary of state for Basic and Secondary Education, Fatou Lamin Faye, on Wednesday, laid the foundation stone for the construction of a new senior secondary school for Charles Jow Memorial Academy (CJMA), valued at D10 million. SoS Faye represented President Alhaji Dr Yahya Jammeh at the historical event, held at the school grounds in Bundung. In her speech, SoS Faye paid tribute to the KMC for establishing CJMA, adding that the council’s contribution to the education sector is highly commendable, as exemplified by a number of scholarships awarded to students, among others. She said the creation of the new school was observed by the Parents Teachers Association (PTA) of Charles Jow Memorial Academy, during its 10-year anniversary celebration, in 2007. According to SoS Faye, the new senior secondary school, when completed, will help to develop the human resource capacities of the students and nurture a new generation of Gambians. She advised the students to acquire the relevant knowledge to carve a better future for themselves. For his part, Yankuba Colley, the mayor of KMC, said his council is aware of its responsibilities in providing social services for its people, citing their heavy investment in the education sector as an example. He informed the gathering that his council created CJMA 11 years ago, in response to the needs of its residents. The new senior secondary school, Mayor Colley went on, will have 12 classrooms, six offices and 12 rest rooms. The mayor used the opportunity to congratulate President Jammeh on the occasion of the July 22nd celebration and also assured the gathering that his council will always serve them. Speaking earlier, Alhaji Ousman Ndow, the chairman of the Board of Governors of CJMA, said the academy seeks to meet the needs of the people of Bundung and the surrounding areas of the Municipality. Mr Ndow revealed that their main objective is to provide quality education, with the support of their able principal, Alpha Khan, his staff and PTA, in collaboration with the Department of State for Basic and Secondary Education. The ceremony was attended by secretaries of state, Ndiawar Touré, the mayor of Rufisque in Senegal and members of his delegation, dignitaries, well-wishers and students. Author: by Assan Sallah & Ebrima Kanuteh BAC Presents D100,000.00 to Numuyel for Road ConstructionMonday, July 21, 2008 The Chairman of Basse Area Council, Mr Omar Sampo Ceesay, on Wednesday presented the sum of D100,000.00 to the Chairman of the Village Development Committee (VDC) of Numuyel, Mr Momodou Camara, as BAC’s contribution towards the construction of the road between Sotuma and Numuyel in the Upper River Region. According to Chairman Ceesay, the presentation is meant for the construction of a six-kilometer stretch of road between the two villages. The contract for the construction of the road has been awarded to Ballast Nedam Contruction company and is expected to last for three months. He assured the community of Numuyel that the council’s profit would be ploughed back to the people for the development of the region. He disclosed that the council would purchase two tractors for Basse and its satellite villages very soon. “All this is geared towards the improvement of the sanitary conditions in the region,” he stated. Speaking at the ceremony, the Governor of Upper River Region, Alh. Omar Khan, advised the community to continue to be loyal to the government. He also urged them to pay their taxes on time in order to enable them to embark on other developmental projects in the region. He called on members of the beneficiary communities to make their contribution by way of providing labour towards the completion of the project. Present at the ceremony were the Chief of Jimara, Alh. Hagi Kulay Camara, Deputy Governor Alh. M.S. Kah, among other dignitaries. Author: By Pa Modou Faal Source: Friday 18th July 2008 Issue Works & construction: Road, A remarkable transformation
Monday, July 21, 2008 For a country’s development to be evidently compelling, her infrastructure cannot be ignored in the overall drive for human and economic development. It is the infrastructure that constitutes the foundation for any serious effort of transforming a nation into what it’s intended to become. One of the most crucial components in a nation’s infrastructure is the road. Therefore, it is not surprising to see the Jammeh administration attaching enormous importance to the construction of modern roads, as has been amply manifested throughout the 14 years of the regime. Building a highly developed model nation on a continent whose progress has been inhibited by 400 years of external exploitation that condemned African people to centuries of backwardness is a mammoth challenge that can only be confronted with renewed energy and vigor. As in most developed nations in the world today, a visionary leadership is required to lead a nation out of poverty and pathetic stagnation. President Yahya Jammeh has proven to be one kind of a visionary leader, who has placed the interest of his people at the centre of his development undertakings for the past number of years. A lack of passable roads not only slows down the growth rate of an economy, it endangers public health; it also prevents farmers from transporting their produce to the market, thereby undermining the overall agricultural productivity and economic activity, and more importantly, threatens human survival. Without a good road network, a country cannot simply make any headway and life would become a misery. Conscious of the artificial realities that had trapped the country in the past, President Jammeh’s government set out to revamp the dilapidated roads and opened up an array of new road networks, some of which were presumed to be unattainable. Bridges were built over rivers that were said to have been passages of devils. Streetlights have been erected and the coastal roads lit up to the admiration of all Gambians and visitors. Recognizing the relationship between transportation and economic vitality, the government of The Gambia embarked on major road projects that connect various parts of the country. The potential economic impacts stemming from highway investments, such as the 168km Kombo Coastal Road are enormous achievements. It is important to note that these investments traditionally connect markets, alleviate human suffering in traveling, stimulate and attract foreign investment, minimize road accidents and ensure safety for life and goods, discourage rural-urban migration, and restore confidence in investment opportunities. It is a fact that a country with a well-developed road infrastructure tends to development faster in all sectors than those whose roads are left in ruins. With The Gambia having her roads well-developed, it will have a comparative advantage over many countries around the world, as it could develop faster, by virtue of her geographical location and her highly acclaimed peace and stability, which are a determining prerequisite for any sustainable investment. Since the advent of the second republic, the country has steadily moved forward to achieve some of her development aspirations, as enshrined in her development blue-print, the Vision 2020. Unlike many countries, development in The Gambia is being decentralized strategically. Other projects In recent times, the European Commission project to support the Gambia National Transport Plan has taken off the ground with the signing of a contract with the government. The project seeks to rehabilitate and upgrade the trunk road of Barra-Amdallai (20km), Mandinaba-Seleti (13km), Soma-Basse (193km), Basse-Wellingara (23km) and the Trans Gambia highway (24km). The completion of these road projects will not only facilitate the movement of people, it will also facilitate the transportation of agricultural products to various markets in the country. These major development strides remind one of President Jammeh’s words of transforming The Gambia into an ultra-modern nation; a city-state that would show the rest of Africa a new model of development that defies the misplaced perception of looking elsewhere for any possible progress. With more plans to construct more modern road networks in the country, it is heart-warming to see the creation of the National Roads Authority (NRA), which further pushes the national development agenda forward. Tasked with the responsibility of planning and constructing road projects in The Gambia, the NRA also has the prerogative to exclusively ensure the upkeep of the road network through general maintenance - road restoration, surface restoration, surface dressing, etc. It appears as if the government is aware of the dangers of leaving our modern roads unattended. There is no doubt that with time, The Gambia would witness a more robust transformation of its road networks, which will in turn go a long way to promote economic growth and sustainable development. Author: DO Sotumakoi-Numuyel road project to startFriday, July 18, 2008 The construction of a road project linking Sotumakoi and Numuyel Village in the Upper River Region (URR) will commence soon, as the Basse Area Council has already presented a cheque for D100,000 to Momodou Camara, the chairman of the Numuyel Villlage Development Committe, at a presentation ceremony held in Numuyel Village. The 6km road project has been contracted to Ballast Nedam and is expected to be completed in three months. Presenting the cheque, Omar Sompo Ceesay, the chairman of Basse Area Council, said the initiative was part of his council’s contribution to the development of the region. He maintained that the Basse Area Council will continue to plough back part of its revenue to the people in order to improve their livelihoods. Chairman Ceesay disclosed that the council will purchase two tractors to improve the sanitary condition of the region. At the ceremony, URR Governor Alhaji Omar Khan advised the people of the area to continue to be loyal to the government and urged them to continue paying dues to the area council on time. He expressed his gratitude and called on the village development community to be supportive of the contractors and take good care of the road once completed. The ceremony was attended by the deputy governor, Alhaji Haji Kulley Camara, the chief of Jimara District and members of the community of Basse. Author: by Musa Ndow In Basse URR GLC, MBG Embark on Construction and Brick Making ExerciseThursday, July 17, 2008 Gunjur Link Committee in conjunction with their counterparts from Speaking to The Point, Fabakary Touray, alias Boyo, a member of the Gunjur Link Committee, said that the aims and objectives of the committee include supplying the people of Gunjur with quality computer technology as well as improving and developing the village. He stated that since the inception of the link between the people of Gunjur and Marlborough in Wiltshire in 1982, there have been a lot of development projects in Gunjur. These include a five-classroom block at “At the moment we are expecting 12 computers from He finally called on students to take their education seriously and always make sure they produce good results that would allow them to earn a place at the Vocational Education Centre. For his part, the youth leader Lamin Cham, commended Gunjur Link Committee for their initiative in establishing a vocational training centre which, he said, would aid the citizens of Gunjur in acquiring computer skills before going to other vocational training Author: By Lamin Darboe Julakay Sent to Mile 2![]() Wednesday, July 16, 2008 Reports reaching this paper have indicated that Ansumana Marena, fondly called Julakay, the Managing Director of Julakay Engineering and Construction company, was on Monday arrested and taken to Mile II prisons. The latest phase in Julakay’s apparent predicament follows the publication of a story last week that Mr. Marena was a guest of the police, who were said to be questioning him on financial matters. But when Mr. Marena was contacted later on, he said he was at the police headquarters to find out from one of his guys what the matter was. When further quizzed whether his visit to the police headquarters had anything to do with financial matters, he replied that the reason would be clear in due course. Author: Abba A.S. Gibba Source: Picture: Ansumana Marena (Julakay) |