The government has dispersed D500 million to cover outstanding debts due to farmers by the Gambia Groundnut Corporation (GGC). Managing Director Muhammed Njie made the announcement during a news conference held on January 20, 2024, at the GGC headquarters in Banjul.

Farmers and presidents of “Secco” organizations met during the gathering. As Njie pointed out, AGIB Bank has already received the monies from the Central Bank and would be distributing them to Seccos around the country shortly.

Njie emphasized the government’s and President Barrow’s dedication to aiding The Gambia’s agriculture industry by promising that the farmers’ debts with GGC will be settled within two or three days.

Due to the immediate availability of funds, GGC will settle its outstanding payments to farmers within two or three days.

The president ordered his ministers to take action as soon as he learned of the issue to ensure that the farmers received their funds. In order to share this knowledge with you, we are gathering here today,” he said the farmers.
Amadou Nyang, president of CRR’s Secco, voiced his displeasure with the payment method, claiming inadequate funds and lengthy delays as reasons. The present challenges that farmers have in obtaining sufficient and timely payments were brought to light by him.

At this very moment, the lack of capital, together with its unfavorable arrival timing, slow processing, and pitiful sum, poses the greatest threat to our ability to meet our financial obligations. That, he said, is the problem that farmers are facing right now. Speaking on behalf of the groundnut farmers, Farmer’s Union Vice President Alagie Ceesay commended the effort to resolve their debts and stressed the need of keeping discussions with authorities, exchanging information, and concentrating on money.

We appreciate your efforts to resolve this issue. The farmers this year enjoy a bumper crop that is high in quality and plentiful. I want to encourage them (GGC) to continue the excellent job because, really, GGC has done incredibly well under MD Muhammad Njie’s guidance,” he remarked.

The difficulties of buying groundnuts were highlighted by GGC’s Deputy Managing Director Lamin M. Sanyang, who emphasized the company’s efforts to guarantee timely purchases. He made it clear that the government does have the money, but it is having trouble getting it from banks.

“GGC’s upper echelons Groundnuts cost a pretty penny—D38,000 per metric ton—if you do the math, and that’s a lot of money. However, we have no interest in buying on credit, and no government does either. “We do not wish for farmers to sit for months without receiving their money,” he stated, adding that 1 billion is not insignificant change.

The GGC board member Chief Yahya Jarjusey brought up the fact that previous administrations had made credit transactions. He warned against making too much of a fuss about overdue payments, referencing examples of similar situations from past administrations.

We have been a cooperative in this nation since Jawara’s time, and credit purchases have been commonplace ever since. However, when you visit other Seccos, you may find that the groundnuts have rotted before you really pay for them. This occurred during Jammeh’s administration as well, so why is everyone making a big deal out of payment delays under President Barrow? “We need to be very careful about that,” he warned.