Economic operators in The Gambia
have been urged to form mergers to maintain bigger companies and corporations
if they are to contribute meaningfully to the economic development of the country.
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| Abdou Kolley, minister of finance and economic affairs |
Finance
and economic affairs minister Abdou Kolley has said small individual
enterprises cannot make substantial progress in the development of the country.
“The
best way for the private sector to make an impact in this country is that they
have to be willing and ready to open, join together and form larger corporations,”
Minister Kolley said.
In
this way, even government’s support to them will be easier because it is easy
to support a few established companies than thousands of individual small
companies, he says.
“So
it is better for them to really come together and work with government in order
to help us achieve the objective set for this country,” he added, saying: “There
are great potentials for growth for the private sector, but this cannot be
tapped by individual companies simply because they may not have the adequate
financing to expand into the untapped areas but if they form conglomerates they
will have solid capital for significant undertakings.”
