GamTel stake to be sold?

18 Apr 2007

According to a report by online newspaper The Gambia Echo, Gambian president Yahya Jammeh has negotiated a deal to sell a 35% stake in the country’s fixed line monopoly GamTel to an unnamed international consortium. According to the paper, which does not name its sources, a minority of Cabinet ministers opposed the move, causing the President to scale down the original offer of a 45% stake. The Echo’s source also claims that Haiti’s former president, the exiled Jean Claude Duvalier (‘Bebe Doc’), was one of the participants in the negotiations. TeleGeography’s GlobalComms database notes that GamTel is a state-owned, limited liability company with the government owning 99% of shares and Gambia National Insurance Company (GNIC) owning 1%. The state is keen to privatise the telco, and in August 2006 invited consultants to undertake a review of its operations in order to work out a divestment strategy.

Gambia, Gambia Telecommunications Company (Gamtel)