Friday, October 15, 2010

The Business Awards and Dinner – Editorial

Posted by Modou S. Joof on March 12, 2010 at 10:15pm
“Business is good, but if it dose not guarantees or protects the interest of the consumer or employee, it can never be anything but bad.”

Banjul, The Gambia (TNBES) The initiative taken by The Gambia Chamber of Commerce and Indusrty is crucial for the improvement of the business sector of The Gambia.

Unlike the Trade Fair which is more competitive, the Awards serves as an avenue to gather business people at one place as well as recodnise the contributions to the
socio-economic development of the country by private business entities.

The event, as highlighted aims at promoting and nurturing business excellence and motivate business entities to do more for the economic growth and social development of the country for which 11 personalities and businesses
were awarded.

However, there is the need to look into private businesses that have not been making headway in the business circle. In as much as we want to recognise the contributions of business institutions, we should loose sight or relax to
protecting the interest of the consumers and the employees of private

The same goes for government business entities. The collapse of Slok Air and the liquidation of Continent Bank need not to be forgotten too soon.

Such situations need much to be desired. The down fall of these two institutions left their employees and customers in a state of financial crises. In the case of Slok Air, its employees had to endure months without pay. Even
some of the Company’s staff were reported to have been stranded in the West
African nation of Liberia.

It also left a vacuum in the aviation transportation in the Sub-Region before new airline companies came in. In fact one parliamentarian described travelling in Africa, ‘a nightmare’.

We believe that it is due to the inconsistency of the industry.

For Continent Bank, it took almost a decade to repay its customers their monies. The liquidation of the Bank took away the wealth of the customers and to a large extent the livelihoods of its customers.

We want to re-emphasise our call for the government or the Chamber of Commerce to as well look into the activities of private institutions that are less contributing to the socio-economic development of the country.

Such business entities need to be reviewed and monitored thoroughly in the best interest of the public by averting the recurrence of what happened to Slok Air and Continent Bank.

We need not to pay less attention to private businesses that are less contributing to our socio-economic development as the repercussions of their downfall is likely to affect our own people. VOL:2 ISSN:124

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