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Momodou
Denmark
11634 Posts |
 Posted - 21 Sep 2012 : 21:47:07
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WHO ARE THE MILLIONAIRES OF THE GAMBIA
Foroyaa Editorial: Published on Friday, 21 September 2012
NO PRIVATE SECTOR LED GROWTH WITHOUT ENTREPRENEURS
The Government of the First Republic and the current one headed by President Jammeh have told the whole world that they are in support of private sector led growth.
However, private sector led growth must be led by wealthy entrepreneurs. In the Gambia, entrepreneurs who have money appear to be in hiding. We have been trying to identify Gambians who earn more than one Million dollars per annum from business and have more than one Million dollars in their bank account to interview them so that we could find out how far the Gambian economy is being driven by the innovation of Gambian entrepreneurs.
Our private initiatives have failed miserably. In the Gambia, many entrepreneurs are uneasy in talking about their wealth. They even become suspicious if one asks questions. It would not be wrong to say that many Gambian entrepreneurs are afraid to talk about their wealth. We wonder how comfortable such people would be in talking about their investments.
All wealth starts with primitive accumulation and grows with modern investments. In the Gambia, few people meet the press to discuss the genesis of their wealth and what they have done to invest it in the productive base of the economy. There is no stock market to identify the flow of indigenous wealth. There is currently no means of tracking indigenous wealth. It should therefore not be a surprise to find wealth deposited in bank accounts abroad while their owners live on interest on their savings. Investment fright is a phenomenon that the existing Government should take note of. As entrepreneurs gear up for the court cases emanating from the Tax Commission, we wonder how many entrepreneurs are investing in the productive base of the economy to facilitate private sector led growth. We will turn to the chamber of commerce for more information on the volume of investment in the National Economy by indigenous entrepreneurs.
Source: Foroyaa
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A clear conscience fears no accusation - proverb from Sierra Leone |
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