By Tabora Bojang
President Adama Barrow has stated stronger oversight measures, performance contracts, and closer monitoring of key performance indicators has injected a fresh momentum in the operations of State-Owned Enterprises (SOEs), leading to achievement of a “historic” consolidated net profit of D2.5 billion in 2025.
Delivering his State Of the Nation Address at the National Assembly on Thursday, Barrow stated this improvement is stark reversal from the D2.6 billion loss recorded by SOEs in 2024 representing an improvement of D5.1 billion or 196 per cent year on year turnaround in their financial health.
He said his government remains firmly committed to reforming and restructuring SOEs to improve performance, strengthen governance, and reduce contingent liabilities ”We have demonstrated strong commitment to reforms by establishing the SOE Commission, as part of a broader agenda to restructure and transform SOEs. This initiative aims to enhance performance, strengthen governance frameworks, and mitigate contingent liabilities. The aggregate financial position of SOEs underwent a remarkable transformation in 2025. The sector achieved a historic consolidated net profit of D2.5 billion, a stark reversal from the D2.6 billion loss recorded in 2024. Notably, for the first time, five SOEs are expected to pay dividends to the government, marking a significant turnaround in the financial performance of the sector. These outcomes are the result of prudent economic management and difficult, but necessary, policy choices made in the national interest,” Barrow said.
President Barrow further reported that in 2025, The Gambia Import and Export Promotion Agency (Giepa) facilitated the attraction and awarding of Special Investment Certificates and Export Processing Zone Licences to 16 businesses.
These businesses he added, are expected to create job opportunities with a total planned investment of US$204 million.
He also unveiled that plans are underway for the construction of a new passenger terminal at the Banjul airport through a public-private partnership.
