Gambia’s state-owned power supplier is struggling to pay at least $65 million (D2.6 billion dalasis) owed to a company in which ex-President Yahya Jammeh is suspected to be having a stake.
The past due balance was for the heavy supply of fuel to NAWEC by through a chain-link of companies with shares owned by Jammeh’s business associates.
One of the companies is Euro-Africa, which is linked to Jammeh’s right-hand associates, Muhammed Bassi and Amadou Samba.
Euro-Africa Director Fadi George Mazagi told the Janneh Commission that heavy duty fuel supply to NAWEC was cut off after the company could not pay it past due bills.
The wary business deal has left Jammeh’s associates owing some $40 million dollars to several local commercial banks and at least $25 million to French oil firm, Total.
Jammeh took control of NAWEC from the Energy Ministry. He gave Euro-Africa Group partner, Global Trading Group the contract to build a power plant in the southern city of Brikama.
NAWEC is struggling to meet the electricity demands of the Gambian population and economy. The country entered an agreement with Senegal to supply additional power.
Jammeh gave Euro-Africa exclusive rights to supply NAWEC with electricity and gave direct orders to have monies withdrawn from these companies.
Jammeh is suspecting to be holding shares through his associates, who are now unable to show paperwork on some transactions ordered by Mr. Jammeh to the Commission probing his financial dealings.