Written by: Badr Ahmed

The Presidential Palace in Banjul witnessed today the signing ceremony for the distribution of profits from state-owned enterprises, as the Gambian government received revenues amounting to 137 million Dalasi from a number of public companies and institutions, in a move that reflects a remarkable shift in the performance of the state-owned enterprises sector.

The ceremony was held in the presence of President Adama Barrow, who presided over the event, along with government officials and senior representatives from public institutions. The institutions contributing to the profit distribution included the Gambia Civil Aviation Authority, the Printing and Publishing Corporation, the Gambia Ports Authority, the National Petroleum Corporation, and the Gambia Radio and Television Service.

Gambia announces major financial transformation of state institutions

This financial turnaround represents a turning point in the performance of state-owned enterprises, especially after years of significant losses in the sector. Official data shows that in 2023, following the establishment of the Commission on State-Owned Enterprises, the sector recorded net losses of 2.3 billion dalasi, rising to 2.6 billion dalasi in 2024, before experiencing a positive turnaround in fiscal year 2025.

During 2025, state institutions achieved combined net profits of 2.5 billion Dalasi, reflecting an overall improvement of 5.1 billion Dalasi, a recovery rate of 196% in just one year, according to government data.

President Adama Barrow attributed this significant improvement to what he described as systematic, data-driven reforms, which focused on strengthening governance and transparency and improving performance management within government institutions.

He praised the role of the committee of government institutions and relevant ministries in providing strategic oversight and support for reform plans.

The President also expressed his gratitude to the officials in charge of these institutions, stressing the government’s commitment to continuing to improve the quality of public services and enhance the efficiency of financial performance, which will reflect positively on the country’s economic development.

For his part, the Chairman of the Government Institutions Committee, Ouseinu Ngom, praised President Barrow’s leadership, stressing that government institutions play a pivotal role in supporting manufacturing and strengthening the national economy, with the committee committed to continuing reforms and improving financial and administrative performance.

Despite this progress, a recent financial report on the performance of 12 government institutions stressed the need to enhance operational efficiency and improve financial resource management to ensure the provision of more effective and cost-effective public services, emphasizing that these institutions have greater potential to contribute to national development.

The ceremony was attended by a number of ministers and senior officials, including the ministers of public service, energy and petroleum, and works and infrastructure, along with members of the boards of directors of the relevant institutions and senior state employees.