Press release
The National Food Security Processing and Marketing Corporation (NFSPMC) has successfully met the performance targets set for State-Owned Enterprises (SOEs). Despite ongoing economic challenges, NFSPMC’s strategic reforms and improved management practices led to enhanced efficiency and profitability across key SOEs under its oversight. The corporation’s focus on transparency, innovation, and stakeholder engagement has driven increased productivity and better service delivery, marking a significant milestone in the government’s agenda to strengthen public sector enterprises. This achievement not only boosts investor confidence but also signals a positive trajectory for The Gambia’s economic development.
On Wednesday, President Adama Barrow received a delegation from State Owned Enterprises’ (SOEs) Commission at the State House in Banjul.
The commission briefed the President on the findings of the performance contract assessment report of Social Security and Housing Finance Corporation (SSHFC) and National Food Security and Processing Marketing Corporation (NFSPMC).
The Commission reported that both SSHFC and NFSPMC have been performing up to standard and meeting Key Performance Indicators (KPIs) targets using the audited accounts such as the 2023-2024 and 2024 KPI baseline for both parastatals.
President Barrow congratulated the Social Security and Housing Finance Corporation Board Chairman, Mr Oreme Joiner, his team members, the Managing Director, Mr Saloum Malang and staff for achieving the appraisal targets set by the SOEs Commission. He advised them to maintain the progress realised in the past two years and consider new investment avenues in the housing scheme, at the decentralised level.
Reacting to the performance of the National Food Security Processing and Marketing Corporation, President Barrow commended Managing Director Momodou Njie and team for meeting the targets. He urged the team to continue the good work, considering the state in which the new management took over the Corporation. The President acknowledged the great contribution of farmers to food security. “It is the reason my government commits to subsidising the price of fertiliser and ensuring a good price for groundnuts in the country.” He observed that the banking transactions in the buying of groundnut have ensured the safety of cash flow during the groundnut buying season.
The President hailed the SOEs Commission for the great work in ensuring accountability and transparency in the governance of the SOEs since its inception, stating, “the powers delegated to the Commission to ensure that the accountability processes are being monitored and working towards the right direction.”
He further observed that the Commission is making SOEs sit up, knowing “they either do a good job and earn a bonus or face the consequences of failing to meet their performance targets.” These, he asserted, are part of the public service reform programme, predicting that with the current trend, there is a brighter future for SOE performances.
The SOEs Commission representatives at the briefings led by Deputy Chairperson Cecilia Baldeh, included Commissioners Baboucarr Sompo Ceesay, Adama Deen, and Executive Secretary Bai Madi Ceesay.
