18/09/2025
Setting the Record Straight: Ecotra Group Ltd.’s Commitment to National Prosperity and Food Security
In light of recent allegations made against Ecotra Group Ltd., we feel it is imperative to address these claims and clarify our role and contributions to The Gambia’s economy, particularly in the crucial sectors of food security and job creation.
The allegations of corruption concerning our company’s operations, particularly regarding a private loan from a bank, are completely unfounded and misleading. At Ecotra Group Ltd., we are dedicated to upholding the highest standards of integrity, transparency, and accountability in all our business practices. Our relationship with our private bank is a strategic move intended to enhance our ability to effectively serve the Gambian market. As private individuals, the owners of Ecotra Group Ltd. have every right to secure loans from any financial institution, operate their business legally, and fulfill their repayment obligations. We are fully committed to conducting our operations in accordance with the legal framework of The Gambia.
All financial dealings have been conducted in compliance with local regulations, including the payment of a significant amount of money in duties to the Gambia Revenue Authority (GRA) over the past few years, just like any other legitimate business. Our commitment to ethical business practices is further evidenced by our compliance with all licensing requirements necessary to operate in The Gambia.
Furthermore, all foreign exchange purchases were made in strict adherence to the regulations set forth by the Central Bank of The Gambia (CBG). Payments to our suppliers were carried out directly through our banking partners upon the presentation of invoices, and our banks were notified promptly upon receipt of the bill of lading. This meticulous process underscores our commitment to transparency and compliance in all financial transactions
Ecotra Group Ltd. has played a pivotal role in improving food security in The Gambia, particularly regarding staple commodities like rice and oil. We have worked tirelessly to ensure that these essential goods remain accessible and affordable for all Gambians. Our efforts have significantly impacted the local economy, benefiting every Gambian directly or indirectly.
A significant achievement in this regard has been the facilitation of a government-to-government (G2G) scheme between The Gambia and India, supported by the Gambian consulate in Delhi and the Ministry of Trade, Employment, and Regional Integration. At the time of this G2G scheme, India had already imposed a ban on rice exports; however, The Gambia was among the first four countries granted a quota for rice imports. This success was made possible due to the collaborative efforts of Ecotra Group Ltd., the Gambian consulate in India, and the Ministry of Trade. Notably, some export duties were waived by the Indian government for the Gambian government, further enhancing the viability of this arrangement. Had the quota not allocated to the Gambia, price of rice would spiral.
Through this collaboration, a total of 150,000 metric tons of rice has been imported between 2023 and 2024. It is important to note that none of the businesses involved in this scheme operated solely for profit; rather, the primary objective was to enhance food accessibility and affordability for the Gambian population.
During the facilitation of the G2G scheme, a dedicated member of our team spent a significant amount of time in India, with all trips funded entirely by our company. This commitment reflects our determination to ensure the success of the scheme and to maintain the highest standards of quality and efficiency in our operations.
In a historic milestone for The Gambia, it has been more than two decades since a privately owned Gambian national company successfully docked a vessel of rice on our shores. Ecotra Group Ltd. achieved this remarkable feat in 2024, marking a proud moment for us and many genuine Gambians. This accomplishment not only represents a significant achievement for our company but also symbolizes our commitment to enhancing food security and self-sufficiency in our nation.
From June 2023 to January 2024, the price of rice remained stable at fixed rates: GMD 1,525 within Banjul and KMC, GMD 1,530 in the West Coast Region, GMD 1,575 in the Lower River Region (LRR) and North Bank Region, GMD 1,600 in the Central River Region (CRR), and GMD 1,650 in the Upper River Region (URR). However, the price skyrocketed to GMD 1,950 the moment we ran out of stock, highlighting the critical importance of maintaining adequate supplies. This record will be etched in memory for ever.
Another notable price reduction occurred between September and December of 2022, when we deliberately reduced cooking oil prices from GMD 2,400 to GMD 1,600. This initiative resulted in significant savings for consumers, yet the prices also surged in the Banjul market once our stock was depleted, demonstrating the volatility that can arise in the absence of sufficient inventory.
Other notable players have also participated in this vital scheme, underscoring the collective effort towards ensuring food availability for all Gambians.
It’s also essential to clarify that the publicity surrounding the Ministry's involvement was not intended to favor Ecotra Group Ltd. Instead, it occurred during a time when commodity prices were notably high, and the Ministry aimed to enlighten the public about the pricing scheme and the measures being taken to stabilize prices for essential goods.
In addition to our commitment to ethical practices and transparency, it is important to note that Ecotra Group Ltd. and our banking partners jointly manage the stock imported as additional collateral. This arrangement ensures that goods are only released to buyers through the appropriate channels, safeguarding the integrity of our supply chain and maintaining the trust of our customers and stakeholders.
Ecotra Group Ltd. is proud to have created numerous employment opportunities across the nation. We have opened more than 30 outlets nationwide, providing jobs to Gambians and supporting local economies. Our workforce is comprised largely of local talent, and we operate under a uniform pricing system that ensures fairness and accessibility for all consumers.
By employing Gambians to manage our operations and sales, we are not only contributing to the livelihoods of individuals and families but also fostering a sense of community and partnership.
At Ecotra Group Ltd., our mission extends beyond profit; we are dedicated to the progress of The Gambia and its people. We remain committed to transparency and ethical business practices, and we will continue to work closely with government entities, local communities, and stakeholders to ensure that our contributions align with national goals of food security and economic stability.
We invite the public and our stakeholders to engage with us, ask questions, and seek further clarification on our operations. Together, we can build a prosperous future for all Gambians.
We appreciate your support and understanding as we navigate these challenges and continue our work for the betterment of our country.
Management Team
Ecotra Group Ltd.
