Here we go again with Yaya’s childish mumbo jumbo. ‘The Senegalese are the
tailors. Why not the Gambians? The Mauritanians own the corner-stores. Why
not the Gambians? The Ghanaians dominate the fishing industry. Why not the
Gambians? It is difficult to swallow that this mental midget, after spending
more than seven years on the job, still comes up with the same irrational
rattling. Instead of focusing on the fundamental issues plaguing the
‘private-sector’, he only comes up with this sentimental garbage.

Yaya and his government have to understand that not all Gambians have easy
access to Central Bank coffers like Yaya does. Not all Gambians also have
access to bribes from countries that want favors from the Dictatorship. Not
all Gambians can divert ‘Crude Oil’ proceeds (amounting to millions of
dollars) meant for poor Gambians into PRIVATE Swiss Bank accounts. Before
Gambians can ‘risk’ capital the way Yaya wants them to, the
businessmen/women have to get the money in the first place. Instead of
Yaya’s constant rubbish (castigating Gambians for being ‘lazy’ and lacking
of guts) we want the government to address the issue of the lack of capital
the ‘private-sector’ can use in order to invest (take risks). Where would
the ‘private-sector’ get the money to invest in the things Yaya wants them
to invest in?

Yaya need not go very far to address this issue. He is a ‘businessman’. He
has an airline and he also has a farm. Now, how did he get capital to invest
in those ventures? His salary? Bank loans? Bribes? Downright stealing from
Central Bank? Yaya can go further by asking himself whether the ordinary
Gambian in the street has access to such sources of capital. It is almost
impossible for ordinary Gambians to use bank loans to finance their
businesses. The commercial banks would rather lend to the government
risk-free. If Yaya and his government really wanted to address our REAL
‘private-sector’ problems, the government will stop (minimize) its sale of
treasury bills to the commercial banks. We all know that the bankrupt
government will not do that. If it does, civil servants would not be paid
their salaries.

You move away from the ‘capital’ problem, you are hit with the ‘tax’
problem. In order to make a simple 10% profit, goods have to be priced more
than double their costs (all the way to Gambia). This is because the bulk of
the mark-up business people slap on their goods would go towards paying
interests on loans and government taxes. People in the country wonder why
the prices of basic commodities keep rising under this illegal government.
It is because of the sick economy we have being run by mental midgets that
do not have the wherewithal to move us forward.

Would a government that want to encourage the ‘private-sector’ ban private
hajj-operators so that Yaya’s airline can maximize its profits? Gambian
newspapers are replete with pilgrims talking about the same problems this
bogus ban on private operators was supposed to have eradicated. The problem
with the Gambian ‘private-sector’ is NOT the laziness of Gambians or their
lack of imagination. The problem is the visionless government we have, that
would rather talk about sentimental and nonsensical stereotypes than tackle
serious issues. So long as we have the mental midgets at the helm, we will
NOT have a vibrant ‘private-sector’. If you ask Yaya to estimate the energy
costs (Nawec and private generators) for some hotels for instance, he would
NOT have a clue what you are talking about or the implications that have on
‘private-sector-led-development. The man is simply NOT up to the job. Always
remember that before 1994 Yaya was NOT even running a household, let alone a
business or a country. Apparently, his seven years or so experience has done
him little good (if any). He still dabbled on the same childish (High
School) garbage about the ‘resolve’ of Gambians. Let me tell him that
numerous Gambians are thriving beyond his imagination in more conducive
environments. If the environment was right in the country, many Gambians
will also thrive. If Yaya can run a farm, and Baabaa Jobe an airline, I can
run a space station and start taking tourists to space.
KB



>From: Jungle Sunrise <[log in to unmask]>
>Reply-To: The Gambia and related-issues mailing list
><[log in to unmask]>
>To: [log in to unmask]
>Subject: Jammeh on Gambian private sector investment.
>Date: Sun, 17 Mar 2002 16:41:12 +0000
>


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