An audit has revealed that the managing director of The Gambia's Social Security and Housing Finance Corporation (SSHFC) approved a 9.8 million euro loan for the government to purchase buses without board approval. The Public Enterprises Committee of the National Assembly discovered this irregularity during a review of the corporation's 2022 activity report and audited financial statements. The SSHFC has been asked to rectify its internal procedures before the report can be accepted.
The Gambia's Ministry of Finance and Economic Affairs (MoFEA) has concluded an eight-day Debt Sustainability Analysis (DSA) training to enhance the country's debt management capabilities. The training, conducted in partnership with the West Africa Institute for Financial and Economic Management (WAIFEM) and funded by the Africa Legal Support Facility (ALSF), involved officials from various Gambian financial institutions. The initiative aims to address institutional capacity challenges and foster inter-agency coordination for effective and sustainable debt management.