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MADIBA
United Kingdom
1275 Posts |
 Posted - 11 Sep 2007 : 18:57:53
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After the sale of GAMTEL'S 50% shares it now the turn of SONATEL, Senegal's premier telecoms company. Accordng to reports on their web-portal SENEWEB, the Senegalese gov't is about to sell her shares of 27.67%. 42.33% belongs to France Telecoms. Interestingly GAMTEL-Gambia and SONATEL-Senegal were started almost the same time. GAMTEL was created in 1984 whilst its Senegalese counter-part SONATEL was created in 1985.
According to observers in Senegal, pressure has been mounted by the World Bank and IMF for their gov't to release its share in SONATEL. Can the same be said of GAMTEL?? If this continues we shall be worst-off ever. When can we own ourselves????
http://www.seneweb.com/news/elections2007/article.php?artid=12206
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madiss |
Edited by - MADIBA on 11 Sep 2007 20:49:03 |
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Sister Omega
United Kingdom
2085 Posts |
Posted - 11 Sep 2007 : 19:55:06
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The day we can own our own resources is when we are able to recognize their worth. It will be the day we finally reach the overstanding that the World Bank has not and never has had our best interests at heart. It's only interest is in itself and reaping as much profits by following its own interests, which is to get as much interest in the form of profit as it can. The World Bank and IMF are Africa and the Developing Countries biggest and most pernicious leaches that these countries have. Because their main existence is to keep the rich countries richer and the poor countries poorer!
Peace
Sister Omega
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Peace
Sister Omega |
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Santanfara
3460 Posts |
Posted - 11 Sep 2007 : 20:40:54
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| true omega .there book call writen by the former head of imf .i can't recall the title now but he indicated how they control our economy and stifle it in every turns. |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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kobo
United Kingdom
7765 Posts |
Posted - 11 Sep 2007 : 21:33:44
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Point of observation. The World Bank and IMF were never mentioned in Gamtel's shady deal. Even our legislators were not informed. It just came out of the blue that there is justification to sell 50% exclusively to a hand-picked MONOPOLISTIC INVESTOR IN GAMBIAN ECONOMY.
Any TRANSPARENCY No I don't think so! There were consistent profits and impressive budget speaches on records for this Public Insitution highly POLITICISED with RAMPANT HIRING & FIRING AND OTHER DICTATES OF AN AUTHORITY.Is that cool No it is NOT
Refer to the government press release, on-going debates and commentaries.
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Edited by - kobo on 11 Sep 2007 21:35:10 |
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MADIBA
United Kingdom
1275 Posts |
Posted - 11 Sep 2007 : 22:02:22
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Kobo there may have never been an open process invoved in the Gamtel sales. Mind you in the Senegalese case too, there is no official word yet from the gov't. This information has been provided by the local press quoting highly placed sources.
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madiss |
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toubab1020
12312 Posts |
Posted - 12 Sep 2007 : 00:50:34
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Perhaps we are looking in the wrong place,these deals may be connected and are part of a larger project and not a bargain basement buy,it seems very odd to me that such rapid sales of communications companies in neighbouring countries have taken place virtually at the same time.
Senegal and Gambia under one telecommunications provider..........who knows? |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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shaka
996 Posts |
Posted - 12 Sep 2007 : 00:56:13
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| They are birds of the same feather Madi. Just like Jammeh loves to dip his hands into our public institutions with impunity, Wade is wreaking havoc on the senegalese economy without giving toss about the gaping holes he left behind. He was on the verge of buying a brand new presidential jet, wasn't he(if he hasn't bought one already). Sonatel was a profitable company until wade stepped in. This is just a tip of the iceberg, i heard Senelec(the senegalese national electricity company) and the ports authority of dakar are on the pipeline as well. Sometimes we are quick to blame the IMF and the World Bank but the way our public institutions are turned into "Allah's bank" by our leader is atrocious. The sad fact is that there are enough wealthy senegalese and gambian individuals to purchase major shares in these companies if they were put on public tender, but they do not want us to know the true extents of the damages done to these instition if they are sold to citizens. So they bring in outsider to extort every little butut and cent from frustrated citizens. If you are a regular visitor of seneweb just follow the weekly emmissions of Soulaymane Jule Diop's "DEG-DEG" programmes in wollof on radia Tam Tam starting with today's. You will learn a lot about the Sonatel privatisation. I am a huge fan of Jule Diop. |
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MADIBA
United Kingdom
1275 Posts |
Posted - 12 Sep 2007 : 15:11:48
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Kobo you are right like many Gambians and friends of the Gambia in the way Gamtel's 50% shares went. It was not transparent. The Gambians have the right to know who has become that important shareholder of the nation's pride, Gamtel. It maybe news to some here but from unassailable sources despite Gamtel still making profit, it has been far from breaking new grounds. Some of the inherent problems were the lack of a cutting edge of management, since the lost of the dynamic Bakary Njie who is a legend in his own right. Wat belongs to everybody belongs to nobody in effect. Some Gamtel staff across all strata go to work with the intention of getting the most out of the company and giving back little or nothing in some instances. Despite having an impressive fleet of pick-ups, normally faults especially during the rains go un-fixed for months. Why? amongst the reasons advanced are incompetent managers, corrupt/disillusioned linesmen and lack of parts. Gamtel vehicles could be seen running personal errands for officers up to Guinea Conakry on Gamtel fuel and Gamtel driver. Directors have lined up training packages which are attimes bogus just for the per diems or worst still junior courses fit for their junior staff.
Still hard to believe Gamtel attimes isreported to have taken overdrafts from the local banks to pay salaries. Gamtel has invested in white elephant projects which are aborted half-way or not paying back at all. I dnt know wat happened to CBAs in Gamtel.Gamtel is suffering from mis-management bigtime.
All the above could be amongst the reasons besides the imperialistic nature of the bretton woods institutions, why Gamtel had to be lined up for the guillotine.
I personally think if things are done in the right way we could see a better Gamtel going back to those days wen BK applied his midas touch. Some inside source confided to me that BK wa very tough wit all staff especially Directors. He was noted for visiting branches un-announced, taking wanting officers to tasks. He has once literally dragged a Director to leave his office to see for himself the deplorable state of a Gamtel phone booth just outside his office. That was BK in short.
Gov't even under pressure from the imperialist instutitions(WB and IMF) should have ensured that the people were informed and if possible their opinion sought. Then from their tender the shares , were credible Gambians or genuine entreprenuers could buy shares.
Next gov't to ensure that not a single staff becomes a casualty without his dues and the welfare of his/her family taken into consideration.
Anyway my verdict if you ask is, the right has been done but in the wrong way. Have a rewardin Ramadan Wassalaam. |
madiss |
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jammin
Jamaica
149 Posts |
Posted - 12 Sep 2007 : 21:02:32
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my 2 cents. Government should be enforcers and regulator of the telecoms market, not Owners. it is in this regard that i agree with the sale of shares which the government might have owned. If any company is suffering from poor management, the best way to make such a company accountable is by creating and fostering the condition for competition. under-performing companies would then have to "pull up their socks" or face the ire of the shareholders.
Remember, companies are not formed to create jobs, but to make money. Therefore, companies that desire to make money WILL conceptualize and market service plans in an exploding market like the telecoms sector. |
Like a colossus He doth bestride the Narrow World |
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toubab1020
12312 Posts |
Posted - 12 Sep 2007 : 22:33:39
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Jammin.
Your 2cents represents very good value I am sure! |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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kobo
United Kingdom
7765 Posts |
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