….As Jammeh Receives Chairman Of Korean Company M J International And His Delegation

Concerns Raised Over M J International’s Financial Base!!!

By Staff Writer Modou Sawaneh, Banjul

As the Lebanon Banjul based Spectrum Group Company, winds up  operations in The Gambia, following the premature termination of their contract with Government, a delegation of South Korean Investors arrived in The Gambia, Friday, the Freedom Newspaper can authoritatively report. The delegation consists of business entrepreneurs, were led by the Korean born business tycoon Dr. Hay Junjun. Mr. Junjun who is the proprietor of the Korean based M J International Company Limited, is eying The Gambia, for business investment. His delegation was received on arrival at the State House in Banjul, by The Gambian leader Yahya Jammeh.

M J International was founded in 1981. The company is barely known in South Korea. It has a low economic base, compared to other leading stores in that Asian country, according to Government sources reaching the Freedom Newspaper. The owners of the company have promised to invest a multi million dollar investment in The Gambia.

The Korean based company mainly specializes on industrial engineering, housing, medium scale developmental projects, import and export and consultancy. The delegation’s visit, followed an invitation extended to them by President Jammeh for their company to tap business opportunities in the former British colony.

In welcoming the new investors, President Jammeh thanked Dr. Junjun and his delegation. Mr. Jammeh expresses his heartfelt gratitude towards the investors move to respond to his invitation. He says he was very delighted and hoped to work very closely with the South Korean company.

The unsuspecting Gambian leader, who is in the business of expelling investors from the country, wasted no time in throwing an invitation to the owners of M J International to use The Gambia,  as their  West African Head Quarters. He says his Government would be more than willing to provide them with office space to pursue their business interest in Africa.

In response, the Chairman of M J International Dr. Junjun commended President Jammeh for opening his doors to investors. The M J International CEO says his company would start operations in The Gambia sometime in the new year, around January. He says housing development was one of their top priorities, as soon as the company starts operation in The Gambia.  Dr. Junjun also spoke at length about his company’s achievements over the  years, even though observers are questioning the financial base of his company. The observers say M J International’s financial base is not healthy as claimed by its CEO.

Trade Ministry sources who spoke to the Freedom Newspaper are also equally concern over the President’s move to welcome investors into the country, without bothering to conduct a background check on them. The Trade Ministry insiders said the M J International investment deal was lobbied by the President with the sole aim of expecting kickbacks from the investors. “ As long as the investors are willing to give him money in private, he careless about the interest of the country. He did the same thing to the Spectrum Group. These people came in and bribed him and he awarded them the  GAMTEL contract. M J too would hijack the land and our Maritime industry.”said an official of the Trade Ministry.

The Jammeh Government has a reputation of duping investors. First was the British based Carnegie mineral company, whose manager Charlie Northfield, was arrested and detained on allegations of economic crime. Thanks to the intervention of a British Security Firm, Mr. Northfield was smuggled to a neighboring country, where he was airlifted to  the UK.  

The Government reacted by declaring Mr. Northfield, a wanted man in The Gambia. Close to fifty security officers, mainly customs, Immigration and NIA agents were fired, following Northfields escape. The fired officials were reinstated days later.

Also among the Investors, who suffered in the hands of this administration, was the Lebanon Banjul based Spectrum Group officials. CEO Muhammed Bazzi and other Spectrum officials were arrested and charged with economic crime, shortly after the termination of their joint telecommunication contract with GAMTEL and GAMCEL. The fate of Bazzi and his group is yet to be decided.

Staff Writer Justice Sam, contributed to the story.