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Gambia sells cars, planes to settle Jammeh’s huge debts.

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Gambia is selling several planes and a fleet of luxury cars bought by former president Yahya Jammeh as it seeks to reduce a mountain of crippling debt contracted during the authoritarian leader’s decades-long rule.

Jammeh, who seized power in a 1994 coup, fled Gambia early last year as West African neighbours were poised for military intervention to topple him after he refused to step down following an election loss to current President Adama Barrow.



While most of his people struggled in poverty under one of West Africa’s most oppressive regimes, Jammeh acquired vast wealth, much of which he packed into planes and carried with him into exile in Equatorial Guinea.

However, a fleet of vehicles, including several Rolls-Royces with Jammeh’s name embroidered in their red leather headrests, were left behind on the tarmac.

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“The fleet of expensive vehicles at State House and the three planes bought by former president Yahya Jammeh have been put on sale,” Finance Minister Amadou Sanneh told Reuters. “My ministry will soon start publicising the sales.”

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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