By Binta Jaiteh
Gambia Ports Authority (GPA) led by its Managing Director has presented its activity and financial of the year ended 31st December, 2019 to public enterprise committee.
Mr Ousman Jobarteh, Managing Director of GPA said the Port of Banjul serve as an entry point for almost 80% of the countries international trade responding to the needs of the socio-economy and development.
He said the port continues to invest in resources both human and capital in sustaining and broaden ports performance.
“Between 2015 and 2018 the authority had procured various cargos handling equipment worth D200,000,000 and D62.4 million. In 2017, we procured 5 automatic containers at a cost of €731,700.00 equivalent to D35.9 million.
“Further investment was done on the procurement containers and front loader at a cost equivalent to D56.8 million. The GPA shall endeavour to implement the new master plan 2017 and 2018 and five-year business plan,” he said.
“In a bit to enhance efficiency and productivity level, management is responsive and committed to the welfare of the general staff adding that despite the modest performance of domestic production base “he added.
He lamented that financial performance of the GPA in the year under review has been accepted and the authority realized and increased the revenue by 7% from 1.6 billion in 2018 to 2.7 billion in 2019.
“Basically, net profit before tax decreased to D376,000,000.00 in 2019 from D450,000,000.00 in 2018 representing a decrease of 16% mainly as a result of higher provisioning impairment relating to GPA ferries. Net profit after tax also decreased from D329,000,000.00 in 2018 to D209,000,000.00 in 2019 representing a decrease of 36%,” he explained.
