By Lamin Camara
Following the decision by the Gambia Government In its attempt to curb the depreciation of the Dalasi against various international currencies, mainly the US Dollar, Local Money Changers have raised concern and frustration over recent developments from the administration.
Gainako’s Banjul reporter attempted to speak with the changers who are affected by the government’s move to revoke all licenses forcing them to re-apply for new licenses effectively raising the cost of the license registration to over one million Dalasis as currently required by the Central bank of the Gambia.
One Mr. Jallow a local money changer in Brikama told Gainako news that the move taken by the administration is very confusing and detrimental adding that the measures taken affects their business and slows it down. We depend on this business for our survivals, so making it difficult for us will not only affect us but the general economy.
Another local changer who asked for cover noted that he would continue with his business because it is the only source of income for him and his family. He stated that he would continue to be active as usual, and insisted that nothing would stop him from doing his business because he has passion for it. ”They can come and arrest me anytime they want, but I would not stop” he said. He further stated that he would rather to go to jail than abandon his income generating business.
Another man who boarded the same vehicle with our reporter said the administration has no mercy for the poor blaming President Jammeh for going too far opining that this is not the work of the President but the Central Bank and the Ministry of Treasury. The money exchange business should be entirely left to demand and supply.
In Serrekunda, where most people including Gambians and foreigners are involved in the business, one Guinean national Mr. Bah said he was very sad to hear the information from the Office of the President announcing that all operators are banned and are urged to re-register and apply for new licenses. In added that this is purely an attempt to control the system and collect more money from these businesses. He said the long term effect of meddling with private businesses has serious economic consequences.
A Sarahule local businessman, who also echoed similar remarks, opined that a government that claims to love her citizens cannot enslave them and put conditions on them that is detrimental to the nation. ”I have lost a lot of customers since the executive orders were given, and I am frustrated and angry” he noted.
One of the biggest Forex Bureaus in the Greater Banjul area which was also affected by the embargo told Gainako that all this is because Gambians are very soft and it is time for us to stand and fight for our rights before we continue to be slaves under the dictates of only one person. She questions the interest of the President blaming him for the entire economic crunch in the country since he has been dishing money to the communities and institutions without any control.
An official at the Central Bank speaking under anonymity said things are very critical noting that our roles has been hijack by the President who thinks he knows all and his decision should always be final. Some affected customers also voiced out their anger and frustration over the issue saying that we are now suffering a lot since the announcement by the President’s Office. Lamin Sanyang a customer said this is very cruel and inhumane saying that this is such a terrible decision that it won’t take long before the whole country feels the pains of such economic interference.
It is inconceivable that the Office of the President will continue to interfere with purely market economic forces that have nothing to do with the office of the President. This government time and again simply oversteps its boundaries and makes breath taking decisions that have far reaching consequences on the lives of the people and which in turn affects the government in terms of revenue collection. It is amazing that in the 21st century a government would not understand the line between economic conditions and its irrational decisions.