BADEA Bank, Gambia Government & Jah Oil: Was the $50 million returned?

On September 20, 2024, The Standard Newspaper reported that Jah Oil has returned the government-guaranteed 50 million-dollar BADEA loan facility that was granted to the company, following a significant controversy. The loan agreement was approved by the National Assembly in June of last year. The government stated that the agreement was intended to assist Gambian businesses that import food and other essential commodities in order to alleviate market price pressure. The following was reported by The Point Newspaper on September 20, 2024: Hon. Seedy Keita, the Minister for Finance and Economic Affairs, confirmed to parliament on Wednesday that the first tranche of $20,000,000, which is equivalent to D1,400,000,000, has been effected or disbursed to the Jah Oil loan facility from the government credit facility. The inquiry that remains unresolved is whether Jah Oil returned the $50 million. Ben Suwareh conducts an analysis.