The Chief Executive Officer of Gambia Chamber of Commerce and Industry GCCI, Mr. Alieu Secka has lamented on the negative impact of Covid-19 on the business community.
He divulged that 2020 has been a devastating year for all particularly on business community. As a result of this consequence, he said there is need for Government to consider and ensure a reduction of corporate tax and payroll tax to enable businesses recover from their losses as caused by the lockdown of the Covid-19.
He said 2020 is a very difficult Year throughout the world as various reports indicate. “So we expect like the rest of the world which event have the recent years at low growth to have negative economy growth, so it been a tough year but somehow with resilience we survive from it.”
According to him, unfortunately many have lose their jobs and incomes, it is being a difficult and devastating year. Notwithstanding, he said, in business similar to life we learn and leave to fight another day, and the fact that we are here now talking about post 2020 covid-19.
“With emerges of new vaccine, we will be able to live with covid-19,” he noted.
He went on disclosed that 2021 is a promising bright year due to announcement of the new vaccine recently. He said it gives hope and encourage life will come back to normal.
In addition to that, there are new opportunities particularly the new digitization because of the absence or need to practices of safe distance, digitization has shown tremendous opportunity for many ITC company and other business to utilize.
According to the CEO; the private sectors also have few reform agenda to continue to work with the government and expressed hope to achieve it in the coming year.
He however noted that access and cost of finance is still too high and they are working through the national business council chaired by the Vice President with five other ministers and leading business private sector representative to address it.
He commented on the access to energy which he said is still too high and often unavailable which he said they are hopeful to make progress in that area. He noted further that land administration is causing huge challenges for private sector in term of getting their registration and documentation on time.
He as well discussed the issues of trade barrier, as he hopeful noted that Africa Trade free agreement will provide solution to that.
However, he disclosed that GCCI has engaged the tax authority through both direct using of the minister of finance for the need for reduction on tax “and we commend the government accommodating some tax delay, but our wish is that tax should be reduced to allow rain-space so that business can recover.”
“There is no doubt that the Gambia is a tax based economy, we need to continue to explore other avenue for the government to realize and generate income rather than taxation, we are hopeful that we can achieve this. We would really like the corporate tax and payroll tax to come down so that people can have more disposable income, he appealed.
Regarding private sector response during the Covid-19, the CEO commended them for responding to their call. He said their supports and contributions are immeasurable as far as national development is concern.
He said during the Covid-19 the GCCI with the support and contribution of the private sector was able to refurbish the sanitarium to serve as a major treatment center for Covid-19.
“Therefore, he commended the private sector and grateful to them for their contribution towards the Covid-19 and also thanked the UNDP for their support, too, especially in ensuring that the Gambia Prison Service benefited a mini-van which is gears towards protecting GPS staff from the coronavirus and adhering to the WHO guidelines.”