Africa-Press – Gambia. Ebrima Sillah, Minister of Transport, Works, and Infrastructure, has provided details of the government’s concession agreement with the Turkish-based Albayrak Group regarding operations at the Port of Banjul. Speaking on Coffee Time with Peter Gomez, Minister Sillah dismissed claims that the government had mortgaged the port to the company.
According to the minister, all assets of the Port of Banjul—including land, infrastructure, and equipment—remain the property of the Gambia government. He explained that all movable assets and equipment were valued, after which Albayrak paid approximately €5 million to the government. However, ownership of these assets, he stressed, still rests with the state, and they will be returned at the end of the concession period.
“So, indeed, the Gambia government actually earns 4% of the gross revenue of the concession,” Sillah stated. “This is before they deduct any staff salaries, any overhead costs, and all other costs associated with running the port of Banjul.”
Using what he described as a simplified analogy, he noted that if total gross revenue is considered as 100%, the government receives 4% upfront, while Albayrak covers all staff-related expenses, which account for about 27% of the gross revenue.
“So if you want to use a simple analogy, like say 100% of revenue, 4% of that gross revenue is actually given to the Gambia government before you do any deductions. Now, out of that, the remaining 96% of the gross revenue, Albayrak actually bears all staff costs, and staff costs of port revenues is estimated at 27%,” he explained.
Sillah explained that the revenue-sharing structure was determined after a careful review of operational risks associated with managing a port concession. He added that between 22% and 25% of annual gross revenue is also spent on movable assets, electricity, insurance, and equipment maintenance.
“That is what Albayrak is sharing with the government. They are taking 80% of that profit, and we are taking 20%. Minus all other things that I have said.”
He further revealed that the agreement requires Albayrak to allocate 10% of its profit to a reserve account dedicated to investment in the planned Sanyang Deep Sea Port.
Minister Sillah concluded that, based on the terms of the concession and ongoing implementation measures, the arrangement is ultimately beneficial to the Gambia Government.
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