President Adama Barrow and his government will repeal the Public Enterprise Act. The decision was made during Thursday’s cabinet meeting. Other choices made during the meeting included modifying the National Audit Office Act and addressing a number of other concerns aimed at improving tax base revenue.

President Adama Barrow presided over the cabinet meeting, during which the Minister of Finance and Economic Affairs, Seedy K.M. Keita, presented his amendment bill to the statute establishing the Gambia National Audit Office and repealing the Public Enterprise statute.

Nothing has leaked about the adjustments the administration intends to make to the law that governs the operation of the National Audit Agency.

Since April, when the president signed the State-Owned Enterprises Act and established the State-Owned Enterprise Regulatory Commission, the repeal of the Public Enterprise Act has been all but assured.

Many observers have been waiting to see how the new law would deal with the Public Enterprise Act, which allows the establishment of public enterprises, regulates their powers and duties, promotes improved performance in the government’s commercial activities, and makes provisions for related matters.

On the other hand, the State-Owned Enterprise Regulatory Commission (SOE) Act expands the authority of the President to appoint members after consulting with the Public Service Commission.

The SOE Act aims to establish effective governance of state-owned enterprises, including performance monitoring, board appointment, restructuring, and the definition of roles, responsibilities, and other related matters.

The World Bank published a report in 2022 that suggested improvements for The Gambia’s state-owned businesses. The study describes the various problems that Gambian state-owned enterprises (SOEs) are dealing with, including corporate governance concerns, competing commercial and socioeconomic goals, insolvency, inadequate accounting systems, and asset overstatement.

Because of this, SOEs have contributed little to government revenue in recent years, but they have also required a large amount of budgetary support, which presents major fiscal concerns due to the portfolio’s lack of financial viability.

The report suggests that SOEs’ unique market rules, compared to private competitors, may lead to market distortions, high prices, poor service delivery, and hindered competitiveness.

The president still has a say in who is appointed to the State-Owned Enterprise Regulatory Commission, so it’s unclear how the new statute would significantly alter political meddling and government control.

The 29th Session of Cabinet at the State House was also the occasion for the minister of tourism and culture, Hamat Bah, to present his strategy on a planned regulation of the usage of personal residences for tourist accommodation and expatriate rentals in The Gambia.

Siaka Sonko, Interior Minister, presented the new National Security Council Bill 2023, and Dawda Jallow, Justice Minister, presented his department’s proposals to build a legal framework for the recovery of monies and assets unjustly plundered from The Gambia.