Economy

Dream Deferred: Samuel Sarr’s Arrest and Audit Scandal Shake Senegal’s Landmark Energy Project

Frederic Tendeng December 15, 2024

Gambiaj.com – (DAKAR, Senegal) – The West African Energy (WAE) power plant, a landmark collaboration between local investors and Senegal’s National Electricity Company (Senelec), was once seen as a beacon of national energy sovereignty. However, the dream of a 100% Senegalese-led energy success story has been shattered following revelations of financial mismanagement and the arrest of Samuel Sarr, the project’s key promoter.

2025 Budget Appropriation – Focus on Resource Mobilization, Pay Raises, Pension Boosts

Frederic Tendeng December 14, 2024

Gambiaj.com – (BANJUL, The Gambia) – The Minister of Finance and Economic Affairs, Sidi Keita, delivered the 2025 Appropriation Bill to the National Assembly on Friday, outlining a bold strategy to boost domestic resource mobilization, address socioeconomic inequities, and tackle fiscal vulnerabilities.

Gambia Poorly Ranked in World Bank’s B-READY Business Climate Report

Frederic Tendeng December 11, 2024

The Gambia has ranked among the lowest-performing economies in the inaugural Business Ready 2024 (B-READY) report, a new World Bank initiative assessing global business climates.

Government Debunks ‘Misleading Claims’ on Africa50 Bridge Agreement

Ebrima Bah December 10, 2024

The government of The Gambia has categorically refuted allegations circulating on social media regarding the Concession Agreement with Africa50 and its implications for future bridge construction.

NAWEC Takes Action Over Alleged Financial Misconduct, Launches Investigation

Ebrima Bah December 9, 2024

Gambiaj.com – (Banjul, The Gambia) – The National Water and Electricity Company (NAWEC) has terminated its Treasury Manager and suspended its Director of Finance amid allegations of financial misconduct.

The Gambia’s Debt Crisis: Alarming Indicators of Economic Vulnerability

Frederic Tendeng December 7, 2024

The World Bank’s International Debt Report, released on December 3, provides a negative outlook on The Gambia’s financial situation as of the end of 2023.

India Adjusts Rice Export Deadline Amid Requests from Senegal and The Gambia

Frederic Tendeng December 7, 2024

India’s DGFT has extended the export deadline for broken rice to Senegal and The Gambia by two months, allowing shipments through NCEL until January 31, 2025.

CMA CGM Increases Charges on Banjul-Bound Container Shipments From Asia, Amid GPA Delays

Frederic Tendeng December 5, 2024

Gambiaj.com – (BANJUL, The Gambia) – Global shipping giant CMA CGM has announced the implementation of a Port Congestion Surcharge (PCS) for cargo shipments destined for Banjul, The Gambia, citing ongoing logistical challenges at the port. The surcharge will come into effect on December 15, 2024, and will apply exclusively to dry cargo transported from the Far East, including China, Hong Kong & Macau SAR, North East Asia, and South East Asia. The surcharge is set at USD 500 per container.

Senegal Faces Rare Setback as Treasury Bond Issue Fails to Attract Investors

Frederic Tendeng December 5, 2024

Gambiaj.com – (DAKAR, Senegal) – The Senegalese government’s recent attempt to raise 25 billion CFA francs through the issuance of assimilated Treasury bonds (BAT) was met with zero submissions, marking a rare and significant failure on the UEMOA financial market.

2024 Groundnut Trade Season Begins

Awa Colley December 4, 2024

Gambiaj.com – (Banjul, The Gambia) – The Government of The Gambia has officially launched the 2024 Groundnut Trade Season, which began on Monday, 2nd December 2024.

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Dream Deferred: Samuel Sarr’s Arrest and Audit Scandal Shake Senegal’s Landmark Energy Project

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