The Gambia has made significant progress in reforming State-Owned Enterprises (SOEs), but major efforts are still required to establish a sound, efficient and financially sustainable SOE sector, according to a new World Bank report released today.
The Gambia Integrated State-Owned Enterprises Framework (iSOEF) report applies the new World Bank iSOEF methodology to assess The Gambia´s SOE sector and its current reform trends. It is one of the first comprehensive applications in Africa and provides first, a landscape of SOEs in The Gambia, and then addresses key aspects for assessing SOEs, namely: “Effects on Markets”; “Fiscal Impact”; and “Corporate Governance and Accountability Mechanisms”. The report assessed 12 non-financial SOEs identified as the SOE portfolio.
According to the report, SOEs are facing a wide range of issues, from insolvency, weak accounting systems, and the overstatement of…
