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Current Feed ContentGCCI Eyes Greater Banking and Financial ProspectsWednesday, June 04, 2008 The Gambia Chamber of Commerce and Industry (GCCI), in collaboration with the International Finance Corporation (IFC) of the World Bank Group, is on the verge of organising an exposition on project financing and banking as part of its efforts to help achieve The Gambia’s Vision 2020. Geared towards providing a platform for the exchange of views and information on banking opportunities in The Gambia and abroad, the three-day exposition under the theme: Financing for Development-Accessing Information for Funding, will take place at the Paradise Suites Hotel from 5th – 7th June, 2008. According to Beatrice Allen, Director, Trade and Investment Promotion at GCCI, the objectives of the exposition are to discuss banking and financial industry concerns and Small and Medium Enterprises’ (SMEs’) access to finance and to promote the development of private businesses. Also part of the objectives, Mrs. Allen went on, “is to provide information to the private sector on how to access financing for projects, to showcase the latest solutions, products and technologies in banking and financial services, provide a platform for joint ventures among others”. As explained by Mrs. Allen, the exposition will draw audience from the banking and finance sector in The Gambia, and from the international and regional financial institutions. “The Gambian public, local and international business operators are the key target audience, especially the Small and Medium Enterprises and the private sector.” Also part of the programme will be the presentation of a report by a consultant based on a survey made on all banks and financial institutions in The Gambia to bring about issues and constraints about The Gambia’s banking and financial sector, among other issues. Author: By Baboucarr Senghore US$3.3M order slammed on TK Motors, Kabo AirThursday, January 03, 2008 TK Motors and Kabo Air have been ordered to pay the sum of US$3,300,861 to O’ Corporation Ltd for recklessness and abuse of process and delay, causing loss, damages and injury to the plaintiff. O’ Corporation instituted a civil suit after it purchased an aircraft, Boeing V27 with registration number 5V PTA. As the highest bidder at the sale, O’ Corporation was prevented by the defendants from taking possession of the aircraft resulting to its destruction. Handing down his judgement, Justice AM Dordzie said the first defendant Kabo Air was aware of the court decision, maintaining that the allegations of fraud pelted against the plaintiff and its managing director by the first defendant and its managing director were untrue. “The first defendant further relied on the injunction orders, which both defendants obtained to threaten the United States of America Federal Aviation Authority from registering the aircraft in the plaintiff’s name,” she said. She ruled that the statement made by Lawyer MacCarthy, under oath, was fraudulent and that it was made with the intention of misleading the defendants and the United States government to undermine the powers of the High Court of The Gamiba. The judge revealed that the first defendant knew that it cannot maintain any suit in the court against the purchaser of the aircraft, saying that the defendant wrote a letter in February to frustrate the efforts of the plaintiff to fly the aircraft out of The Gambia. “I have found the defendants liable for abuse of the court process, by relying on the processes in exhibit T to further stop the plaintiff from taking possession of its aircraft to do its business which amounts to interference with the plaintiff’s business interest. The plaintiff said this has affected its business internationally, the contents of the letter and allegations speak for themselves,” she added. Justice Dordzie then ruled: “I find the plaintiff entitled to its claim of damages for injury to its reputation as a result of the defendants’ acts, unlawful interference, and interest of 25% from July 3rd 2000 to the day of judgement”. Author: by Buya Jammeh |
