Declares MD Hydara As Factory Resumes Operations
By: Momodou Justice Darboe
The Managing Director of Jah Oil Company, Mr. MomodouHydara, has declared that Jah cement factory has the capacity to meet the Gambia’s cement demand.
The factory resumed operations over the weekend following almost one week of cement shortage and price escalation in parts of the country.
The shortage and price rise were reportedly precipitated by the decision of the Gambia government to increase the levy on a bag of Senegal-imported cement to D180 from D30.
Local cement importers said the tax increase was astronomical and that it could kill their investments.
Consequently, the trucks of cement that many of themimported from Senegal were denied entry into the country for more than a fortnight. The trucks were still stranded at the border at the time of writing this story.
The cement shortage and price increase caught Jah Oil in the firing line as Lion’s share of the criticisms was dished out to the company for giving the impression that it could satisfy the country’s cement needs.
However, Mr. Hydara told a press conference on Monday that Jah cement factory can indeed supply the entire country withrelatively cheap and superior quality cement.
“We have the capacity to supply the whole Gambia with high quality and relatively cheap cement even when we don’t operate at full capacity. We need only three days of production to satisfy the country’s cement requirement,” he explained to reporters.
He further explained that Jah Oil Company plays a stabilization role in the country’s cement market.
“Without Jah Oil Company, the price of cement can be manipulated to the detriment of Gambians. We have seen how some cement dealers were cashing in on the current situation to inflate cement prices. They were buying a bag of cementhere[Jah factory] at D355 and selling at D450 just for propaganda purposes,” stated Mr. Hydara.
He added that it was the fear of price manipulation that encouraged Jah Oil to establish cement selling points to serve as price anchor points, stating that the company has not been maximizing any profit from these selling points.
He capitalized on the press conference to highlight the need for the protection of Gambian-owned businesses for economic growth and limitless national development.
“Jah Oil is 100% Gambian-owned and it’s one of the biggest companies in Africa,” said Hydara.
He informed reporters that the company supports water initiatives in communities around the country. He also informed reporters that the company makes healthcare and educational interventions by subventing health facilities and supporting academic pursuits.
“We also want to ensure food sovereignty in The Gambia through mechanized farming. We want to industrialize food production. Other countries attained development because they protected and supported their investors,” underlined Hydara.
