By: Fatou Krubally
Halifa Sallah, secretary-general of the People’s Democratic Organization for Independence and Socialism (PDOIS), has criticized the partnership between the Gambia Ports Authority (GPA) and Al-Bayrak Group, describing it as a reflection of economic failure.
The agreement, which according to officials, aims to improve the efficiency and competitiveness of the Banjul Port, has raised concerns about the reliance on foreign entities to manage sovereign assets.
Sallah expressed his concerns about the privatization process in The Gambia, stating, “The issue is not to rely on your sovereign assets to try to get others to manage it for you so that they can give you something that you can use for development. You are tying yourself. You are not freeing yourself.”
He emphasized the need for the country to build sovereign national wealth by investing in productive assets rather than relying on external management.
Speaking at a press conference on Wednesday, Halifa said, “We are not investing in the productive things to build sovereign national wealth. And no country in the world will be able to survive without the state building sovereign national wealth. That is a law of development that they are ignoring at the moment.”
He highlighted the importance of investing in assets that would generate income and allow for the continuous expansion of sovereign national wealth.
Sallah further warned about the risks involved in such partnerships, cautioning, “If you sign a contract, once you break the contract, they can take you to an international tribunal.” He highlighted the potential consequences of depreciating exchange rates and reduced facility usage on the country’s ability to regain control of its assets.
Furthermore, he emphasized the importance of long-term sustainability, stating, “All of you should take note, in the next five, 10, 15 years, you will hear everywhere, all over the world, that they cannot just depend on taxation to be able to sustain the country. That is not possible.”
Despite his criticisms, Sallah acknowledged that the decision has been made but urged continuous evaluation of whether such agreements are truly beneficial for the country’s development. He emphasized the need for investing in assets that generate income and allow for the continuous expansion of sovereign national wealth.
The partnership between GPA and Al-Bayrak has sparked a debate about the best path for economic development in The Gambia. While some see it as a step towards improving port efficiency, many, like Halifa Sallah, view it as a reflection of economic failure and a risk to the country’s sovereign assets. As the agreement moves forward, it remains to be seen how it will impact the country’s economic landscape in the years to come.
