The state-owned telecommunication company and its sister GSM company, have since 2011 been incurring financial losses. The company’s financial report, which was adopted by the Assembly on Monday shows a loss of D85,668,000 in 2011; D93,482,000 in 2012; and D141,000,000 in 2013.
“The balance sheet is not nice at all,” queried Lamin Kebba Jammeh of Illiassa, North Bank Region. “The current assets and current liability to the liquidity is not viable and the current liabilities far overweight current assets. How can you show us that you are a viable venture?”
Mam Cherno Omar Jallow of Upper Niumi noted that Gamtel/Gamcel’s yearly loss-making-streak is not abating and wanted to know from the management what plans they have to arrest the situation.
In his response, Mr Babucarr Sanyang, the managing director of Gamtel/Gamcel, said his institution is grappled with challenges of stiff of competition in the market.
He explained: “We are a public sector competing with private enterprises in a market that is saturated. With the likes of Africell and Comium which are found in countries like Liberia and Sierra Leone, competing with them is difficult.”
However, Alagie Sillah of Banjul North blamed Gamtel’s problems largely on bureaucratic red tape. He told Gamtel officials: “You are competing in a market where, in other companies, two people can make a decision while at your level, it takes a long process before it is considered which I believe must be addressed for the smooth running of your work.”
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