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Momodou
Denmark
11715 Posts |
 Posted - 28 Dec 2007 : 21:12:30
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GGC To Disburse Over D40 Million for Groundnut Buying
By Bubacarr Sowe and Fabakary Ceesay
The Gambia Groundnut Corporation (GGC) has started disbursing over 40 million dalasi to its agents, the General Manager told Foroyaa, upon enquiry, on Monday 24 December, 2007. Mr. Colley further said that they have asked their agents to secure insurance bonds .According to him, the D40 million dalasi will be made available for disbursement among those who have met a set of criteria.
He indicated that it would be premature at this stage to state the total amount of cash needed to purchase nuts throughout the season but, as at now, the D40 million is for immediate disbursement. According to him, they have secured a loan at the Trust Bank by mortgaging the GGC assets, estimated to be between 100 million and 200 million dalasi, to serve as a guarantee.
On December 17, 2007, the GGC issued a press release announcing that this year’s depot price is pegged at D7950 per tonne. This followed an earlier release by the Agribusiness Service Plan Association (ASPA) announcing the producer/‘secco’ price of D7200 per tonne.
Meanwhile, the GGC has promised to announce, in the next few days, the total amount required to purchase this year’s groundnut crop.
We will monitor developments at the depots and publish reports on them.
Source: Foroyaa Newspaper Burning Issue
Issue No. 150/2007, 27 December, 2007
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