Africa-Press – Gambia. The Minister of Finance Seedy Keita yesterday admitted before lawmakers that a major lapse in the government’s asset recycling agreement with Africa50 for the Senegambia Bridge has been “communication.”
According to the minister, government has communicated this lapse to Africa50 during its recent board meeting. “We have asked them to do a communication plan where the entire citizenry will be informed and given the full idea of this asset recycling and the investment,” Keita said.
Responding to Wuli East NAM Suwaibou Touray who wanted to know how much government received from Africa50 under the current 2025 budget and which road projects were funded from it, Minister Keita replied that the 2025 budget does include a provision of the $50 million as estimated inflow from Africa50 proceeds but so far no disbursement has happened yet.
He further explained that they are expecting the money towards the third and fourth quarter of 2025 because Africa50 only “assumed control of the bridge in April.”
Asked if the agreement obliges Africa50 to make investments, the minister said they have already started building the toll facilities and are also going to build weighbridges. “Initial studies done showed that the bridge was overloaded, but since taking over in April, there has been a very good response. We are pleased with what has started, but what we engaged with Africa50 at the recent board meeting was that this transaction had one major lapse and that lapse was communication.
Background
In 2023, government entered into an asset recycling scheme with Africa50 to manage the Senegambia Bridge for 25 years with The Gambia expected to receive a lump sum payment of $100 million.
The first tranche of $15.5 million was paid to government last year which allows Africa50 to officially assume operations of the bridge.
In his 2025 budget presentation, Minister Keita informed NAMs that non-tax revenue for this year will increase by 45 percent mainly due to an anticipated receipt of US$50 million equivalent to D3 billion as payment for the second tranche of the Senegambia Bridge asset recycling with Africa50.
For More News And Analysis About Gambia Follow Africa-Press
