By Yunus S Saliu
The Chairman of the National Employment Technical Committee (NETC), Abdoulie M. Touray AKA Baks Tourayhas highlighted important areas that revolve around catalyzing economic growth and social development with a deliberate focus on creating substantial employment opportunities, fostering sustainable economic practices, and enhancing the nation’s socio-economic fabric.
As a Chairman of NETC, he harped on four areas which include a focus on enhanced sector-specific strategies, innovation in finance and financing mechanisms, capacity building and training, and call for delivery.
Expatiating on these, Mr. Touray said elevating focus on agriculture is imperative, on renewable energy, while transitioning towards a low-carbon economy is a priority under renewable energy.
“Harnessing solar, wind, and hydro resources ensures energy security and positions The Gambia as a regional leader in sustainable energy,” this initiative attracts green investment, fostering economic growth while preserving the environment.
Dilating on transport infrastructure, Mr Touray submitted that prioritizing projects such as the Banjul Port, the Banjul-Barra Bridge, and the Stink Corner Bypass is pivotal. “These projects catalyze economic rejuvenation, enhance trade efficiency, and unlock regional connectivity. A world-class international airport envisages to serve as a gateway for tourism and international business, positioning The Gambia on the global stage,” he noted.
The role of innovative finance, according to him, is indispensable, thus, “Exploring green bonds, diaspora bonds, and impact investments aligns with global sustainability trends, mobilizing capital for our development goals.”
Therefore, the realization of this ambitious agenda hinges on innovative financing mechanisms, with (Public-Private Partnerships) Partnerships) PPPs at the forefront. Given the government’s limited fiscal space and the downward trend in donor aid, “PPPs stand out as a sustainable model for financing and implementing large-scale projects. The essence of PPPs in our context is to draw on the private sector’s efficiency, expertise, and capital to complement public sector initiatives, ensuring that projects are not only conceptualized but brought to fruition,” he explained.
He added further that the success of PPPs is inherently linked to the preparation of well-conceived, bankable projects, noting that establishing a Project Preparation Facility ensures meticulous planning, making projects financially viable and attractive to private investors. Comprehensive training programs in PPPs, project finance, and project management are essential to equip our workforce with the skills needed for successful implementation.
Reacting on capacity building and training, he said acknowledging the complexity of PPPs and project management, a dedicated training program is imperative. So, “Empowering our professionals with skills in PPP frameworks, project finance, and project management drives efficiency and effectiveness in public investments.”
Moving forward, he said, people must collectively emphasize a focus on delivery and unite in commitment to overcoming these challenges and delivering tangible results for the people of The Gambia.
