The Gambia National Investment Board Would Work Better

Under A Socialist System

BY TIJAN NIMAGA, Bronx, New York

I admire PDOIS’s  Desk Officer, Suwaibou Touray, for his courage and ability to lucidly explain how the principles and policies of PDOIS could transform The Gambia into one of the best democratic socialist states ever to exist in West Africa. If even those that are against our policies were to read Suwaibou’s article without anger, they would be able to digest the whole content. After all, we are talking about democracy, so listening to one another will bring in ideas which can benefit not only those involved in the debate but the entire nation. Let’s take a close look at what could be achieved by one of the many institutions in The Gambia that could turn our nation into the best democratic socialist state ever to exist in Africa.

              Since independence from Great Britain The Gambia has been governed by a capitalist political system and the first Republic was led by a unique pioneer of Gambian politics, a man who, notwithstanding his mistakes, deserves great honour, not only in politics but for his individual efforts that led to our nation’s sovereignty. Although he was a capitalist, this unique, exceptional, extraordinary man, Alahagi Sir Dawda Jawara, deserved huge respect as one of the great men who liberated us from the colonial masters and his legacy is secured in history. The second Republic is the APRC regime, which, no doubt, has nothing on its platform that can be associated with a democratic government.

Now to my proposal of the NIB; that one government institution, which with sound economic policies like PDOIS’ could help end the economic drought that The Gambia has been facing for decades. The NIB as the commercial corridor to the outside world, controls every foreign investment in The Gambia, and the question is “can the NIB become a huge economic interest earning institution under a democratic socialist system?” Absolutely yes, and the only qualified political party in The Gambia now that could make this possible is, PDOIS.

                 If PDOIS was the ruling political party, with its democratic socialist ideology as analyzed by Suwaibou Touray, The Gambia National Investment Board could become a successful economic development institution for the benefit of the Gambian people as well as for the local private sector. Since its establishment in 1977, the NIB has become a beacon of hope for almost every foreign investor in the country, while the entire Gambian population can only watch what could have been socialized for the benefit of the entire nation being slowly looted by developed countries or foreign corporations.

                 During the time of Alahagi Sir Dawda Jawara, the National Investment Board simply became a ‘one-stop shop’ for both local and foreign investors which earned the institution a national development think- tank strategy where financial analysts, foreign and local investors, depended on free trade. But did that free trade benefit the nation or local investors in terms of national interest? The answer is an absolute no. Some of the actors in the private sector are, without a doubt, carrying out every single bit of profit that could have been equally socialized within the country to already developed countries. The work force itself has become a commodity of the products it produces. This is simply based on the fact that the interest the work force produces all ends up in the pockets of foreign investors and their dubious agents while the nation continues to nurse its ailing economy. These are some of the mistakes some pundits refuse to accept and, and given the trend in the on-going debate, I am now convinced that some of our nation’s intellectuals simply refused to accept the socialist ideology.

            The Gambia National Investment Board (NIB) also transformed a guideline for the would-be investors right from the pre investment stage. However Sir Dawda’s framework did not give any hostile way to the foreign investors and that was, perhaps, what led to the institution’s success until 1994 when Sir Dawda’s government was overthrown by the current regime. Today, though, the NIB has failed to establish what was expected of it and, instead of establishing better economic development and protecting our national treasury, the NIB has become a negotiator between foreign looters who are just interested in the small economic interest the government is earning. As our nation’s ailing economy continues to get worse, the only political party capable of ending the economic drought in our county is the People Democratic Organization for Independence and Socialism. This could be achieved in a few simple and fair systems.

(I) Since our economy is based on the import export business, if The Gambia became a democratic socialist state, taxes could be imposed in such a way that the government would earn more for the needs of society in general. This could help the central government to rebuild our economy and its infrastructure.

(II) With a democratic socialist government, foreign investors and private sectors would be forced to employ qualified citizens for jobs that they are now paying foreign nationals to do while our citizens watch as their own job market is looted. This is one of the common evil practices of capitalism. As an addition to Suwaibou Touray’s definition, under a socialist government every worker is paid according to the amount of work produced.

(III) The tourism business is another important government program, which could earn the Gambian government vital wealth it needs in a democratic socialist state. The Gambia is not earning the interest it could due to the fact that foreign investors carry well over 80% of the trade, mainly in foreign countries, and by the time the tourists come to begin their holidays in The Gambia the interest is already consumed by investors, both private and local. The only benefit The Gambian government gets is the one-time or annual certificate fees the investors pay. However, a democratic socialist state where the central government gets the lion’s share from the investors is the only solution to the economic problems our nation is facing because, in this way, you and I could proudly socialize our national interests.