President Adama Barrow has appointed a commission of six people to oversee the affairs of the country’s state-owned enterprises (SOEs). The commission, which is expected to commence work immediately, will be chaired by Mr. Ousainou Ngum Fmaat, FCCA MBA.
“Acting on the powers vested in him under Section 6(1) of the State-Owned Enterprise (SOE) Act, 2023, His Excellency the President Adama Barrow has appointed six commissioners to look into the affairs of the State-Owned Enterprises (SOE) in the country,” the statement reads.
The other members of the commission are Sagar C.T. Twum, Mr. Adama Deen, Mr. Abubacarr Sampo-Ceesay, and Ms. Amie Njie.
The commission’s mandate is to monitor and provide oversight of the primary objectives, statements of corporate intent, business plans, memorandums of understanding, and performance contracts of SOEs. They will also oversee the reorganization, dissolution, and liquidation of SOEs.
In addition, the commission will coordinate and monitor the operations of SOEs to ensure that they are aligned with the national development policies and programs. They will also review the strategies of SOEs and produce and publish annual performance reports.
The commission will make recommendations to the cabinet regarding the performance of SOEs and determine whether they should be reorganized, merged, streamlined, abolished, or privatized.
The commission will have a tenure of office of three years, with the possibility of reappointment for a further term.
The appointment of the commission came after the SOE Act was enacted on April 25, 2023.