Setting the Record Straight on the Alport Agreement

During today’s UDP Hour on Coffee Time, listeners were told that The Gambian government receives only 4% of Alport Banjul’s revenue. While the 4% figure is correct, presenting it as the government’s entire financial benefit leaves out an important part of the agreement.

Under the concession arrangement, the Gambia Ports Authority (GPA) is entitled to 4% of Alport’s annual gross revenue, regardless of whether the company makes a profit.

But that is not all.

GPA also holds a 20% equity stake in Alport Banjul, giving it the right to 20% of distributable profits when dividends are declared. The agreement additionally provides for a separate payment of approximately US$5 million relating to movable assets.

These are three distinct financial provisions, not one.

The difference matters. The 4% is calculated on gross revenue, while the 20% applies to profits available for distribution. The two figures cannot simply be added together, but neither should one be mentioned while the other is ignored.

These terms have been publicly explained by Transport Minister Ebrima Sillah and documented by the State-Owned Enterprises Commission.

Political debate is healthy, particularly over major national investments. But Gambians deserve the complete facts when assessing agreements entered into on their behalf.

The Alport agreement provides for more than a 4% revenue share. That is what the public record shows.