Every Gambian knows the pain of unreliable electricity, poor telecoms, and high water and cash power bills. But what most don’t know is that these very State-Owned Enterprises (SOEs) are sinking the nation in debt. The Auditor General’s reports for 2021–2023 reveal the truth, SOEs borrow billions, don’t repay, and leave the burden on ordinary citizens.
The Billions Owed
By 2023, SOEs owed government D8.15 billion in unpaid loans.
Meanwhile, government (on behalf of the people) still owed the external lenders D8.32 billion on those same loans.
That means a loss of at least D168 million, already falling on taxpayers.
Who Are the Biggest Culprits?
The arrears list reads like a roll call of our most important SOEs:
• NAWEC (Electricity & Water): D754.5 million arrears.
• GCAA (Civil Aviation): D336.4 million arrears.
• GAMTEL (Telecoms): D159.9 million arrears.
And that’s just three. Others, like GAMCEL and GPA, are also in the red.
How Did We Get Here?
• In 2021, arrears stood at D266 million.
• By 2023, they had exploded to D7.1 billion.
The Ministry of Finance is now openly discussing cancelling NAWEC’s debt and converting GCAA loans into equity.
In plain words: the government is preparing to forgive SOEs their debts, meaning citizens absorb the cost.
What Does “On-Lending” Mean?
• Government borrows money from external lenders (like the World Bank, Saudi Fund, or African Development Bank).
• That money is passed to SOEs (like NAWEC) to build power plants, telecom networks, or airports.
• SOEs are supposed to repay government.
• When they don’t, the loans remain due , and the government (you, the taxpayer) has to pay instead.
It’s like taking a loan in your name, giving it to your brother to invest, but when he doesn’t repay, the bank still comes for you.
Why This Matters
Every dalasi not repaid by SOEs is a dalasi that could have gone into schools, hospitals, and salaries. Instead, it is being swallowed by failing institutions that keep delivering poor services:
• NAWEC keeps the nation in darkness, but still owes D754M.
• GAMTEL gives us poor networks, but leaves D159M unpaid.
• GCAA collects airport fees, but still owes D336M.
And now, government is thinking of wiping their slates clean , at the expense of taxpayers.
What Gambians Must Demand
1. A loan-by-loan breakdown of what SOEs borrowed, how much they’ve repaid, and what remains.
2. A clear repayment plan that forces SOEs to pay, not taxpayers.
3. An end to blanket debt forgiveness for SOEs , because citizens cannot keep paying twice.
The Verdict
SOE arrears are not just a number. They are a timebomb:
• D8.15B owed by SOEs.
• D8.32B owed by government.
• D168M already lost.
When SOEs don’t pay, citizens pay twice,once in poor services, and again in higher taxes and debts.
This concludes Part 5 of our Audit Breakdown. But the story doesn’t end here. The more we dig, the more we find , because the truth is buried under billions of dalasis in silence.
Share this until it reaches every Bantaba, every WhatsApp group, and every National Assembly member. The debt timebomb is ticking, and Gambians must act before it explodes.
By Jallow Modou ,Washington D.C,USA
