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GAMTEL, GAMCEL AND GIA SALE:D100 Million Dalasis kickback deal went into Jammeh's pockets-State House Sources unveil!

GAMTEL Board fired, as the new owners step in

State House Permanent Secretary says The Government is under increasing pressure from World Bank and IMF for selling GAMTEL, GAMCEL AND GIA.

“ They went into this deal without putting into consideration its aftermath. Our donor partners are the least happy about the President’s move to sell these institutions. They have protested to the Government and are awaiting comprehensive explanation on this matter from Government. This was not what the IMF recommended to Government. The President thinks that he can take such major economic decisions without the World Bank and the IMF knowing about it. He might soon compromise some people in government to just to satisfy the donors. Since the signing of this deal, calls and letters of concern had been pouring at the State House.” said the Permanent Secretary.

By Staff Writer Justice Sam, Banjul.
Paid for and commissioned by the
Freedom Newspaper.

In what appeared to be a well coordinated graft to reap-off GAMTEL, GAMCEL and GIA, well placed sources in the heart of The Gambian Government are speaking out at this hour, about President Yahya Jammeh’s underhand deals to receive kickbacks amounting to over D100 Million Dalasis from the new Lebanese investor group, which recently purchased the above mentioned public corporations, the Freedom Newspaper can authoritatively report. Our sources at the State House in Banjul, said before the reaching of the said privatization deal, the Gambian leader was bribed with D100 Million Dalasis to give his blessing to the much talked about GAMTEL deal. The sum in question was hand delivered to the Gambian leader, who is increasingly isolated locally and internationally. A Permanent Secretary at the State House remarked” Lamentably, the whole deal was reached behind closed doors. These people came in and handed him with the money and he ordered for the privatization deal to be signed. He had numrous talks with these people in the recent past. The Finance Minister was sidelined by the President. Edward Singhateh was sidelined. The Secretary General was also sidelined. The Central Bank was also not involved in this matter. The entire transaction was coordinated by Jammeh, Information SOS Gaye, and few other people. There is no account opened at the Central Bank opened to cater for the funds received from these Lebanese. All the funds were channeled through the President. Everybody here is angry about what is happening. SOS Gaye lied to the nation that GAMTEL was bankrupt. This was just a cover up to hide their money laundering schemes.”

According to the Permanent Secretary, the new buyers of GAMTEL, GIA AND GAMCEL have in mind to downsize the staff set up at the said institutions. Already, continued our source” They have dissolved the GAMTEL BOARD. They also considering firing some staff members. The new board would consists mainly Lebanese and few Jammeh agents. The President sold these institutions just to line his pockets. Mr.Bashi and his group are also working on taking over the Gambia Ports Authority.”

Shortly, selling these public corporations, the government announces its intention of dissolving of the GAMETEL board. The former board consists of the following people. Mustapha Njie alias Taf, Edrissa Jobe, Jammeh’s main errand boy in town, Katim Touray, GAMTEL MD, Abdoulie Bass Staff Representative and Mr.Sarjo Ceesay Secretary.

Investigations conducted by this paper reveals that the Government of The Gambia is coming under increasing pressure from donor partners, mainly World Bank and the International Monetary Fund for taking such a major policy decision without observing international standards for privatization. The State House Permanent Secretary who spoke to us remarked “ They went into this deal without putting into consideration its aftermath. Our donor partners are the least happy about the President’s move to sell these institutions. They have protested to the Government and are awaiting comprehensive explanation on this matter from Government. This was not what the IMF recommended to Government. The President thinks that he can take such major economic decisions without the World Bank and the IMF knowing about it. He might soon compromise some people in government just to satisfy the donors. Since the signing of this deal, calls and letters of concern had been pouring at the State House.” said the Permanent Secretary.

The Gambia is currently faced by major economic collapse, with the little or nor serious investor targeting the impoverished tiny West African country. In a bid to control the country’s growing inflation, the Government reaches a deal with Gambia’s private sector to reduce prices of basic commodities by promising to offer them tax deduction on goods imported into this country. That deal is not working out well, as prices of commodities are skyrocketing by the day. Almost all prices have gone 100 percent up.

Frustrated by these developments, the Government has embarked on an artificial way of controlling inflation by forcing the value of the US dollar, the British Pound and other international currencies down. The dollar trades at D22 Dalasis as I filed this story. Central Bank officials have warned against the Government’s move to devaluate the economic power of dollar and other international currency. “Instead of devaluating our own currency, they are busy devaluating the dollar and the pound. This have adverse economic implications on our economy. What it means is that trying to paint a positive picture which does not exist in the first place. It’s the same as infecting the economy with counterfeits. The repercussions are insurmountable. We shall pay for the price sooner or later.” The Central Bank Economist warns.

According to the Economist, most Government accounts are in the red. “ The economy is not moving. That’s the reality. Money is going out and yet nothing is coming in. Very soon they will have problems in paying salaries. The President has on numerous occasions sent his agents to collect money from the Central Bank. Famara Jatta left a big mess here. Jatta was one of the worse Governors we ever have at the Central Bank. He allowed the President to collect money here undocumented.” The Economist alleges. The Economist wondered how the African Development Bank can hire such a corrupt official. “ He helps the President in his money laundering schemes. Jatta never controlled Central Bank borrowings and was often used to run secret errands for the President.” he added.

“If the privatization was done in the right way, no one would complain about it. What we have is the President brokering deals to meet his own interest. No one here is aware of what is happening. Everything was done in secret.” said the Economist.

Meanwhile, reports reaching this pay say the Government’s expectations of getting financial help from Iran was dashed out as the Iranian Government was banking on its private sector to woe potential investors into the country. The report says due to lack of political stability in The Gambia, most the Iranian investors are skeptical about investing in The Gambia. “ The President received some financial help from Iran, but he never reported it to The Gambian public. Iran wants to help in the areas of trade, security and agriculture but the investors are not willing to come. They rather go to Dakar than the Gambia.” said an insider at the Department of State for Foreign Affairs.

Posted on Thursday, August 30, 2007 (Archive on Wednesday, September 12, 2007)
Posted by PNMBAI Contributed by PNMBAI

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