In a bid to create awareness and sensitise the private sector about the new Hoarding Prohibition Bill, 2009, the Gambia Chamber of Commerce and Industry (GCCI), in collaboration with the Ministry of Trade Industry and Employment, yesterday organised a day sensitisation forum at the Paradise Suites Hotel in Kololi.

'Hoarding' includes importation, buying, selling or other form of trade, whereby the importer, buyer, seller or other person, engaged in the business or trade of such goods keep the goods from the public for the purposes of speculating on a price increase. As a result, it is observed that some traders are in the habit of hoarding essential commodities, thereby creating artificial shortages and then raising the price of these commodities. However, yesterday's forum came after the new Hoarding Prohibition Act 2009, was assented to by His Excellency Sheikh Professor Alhaji Yahya Dr Yahya Jammeh on July 10, 2009.

Presenting a paper on the new Hoarding Prohibition Act, Abdoulie Jammeh, senior economist at the Ministry of Trade, Industry and Employment, stressed that the objective of the new Bill is to prevent hoarding and promote competition to ensure a fair environment that is beneficial to businesses and consumers.

According to him, the Act prohibits and penalises persons engaged in hoarding and their accomplices and that it also makes it obligatory on every person who knows that hoarding is being practised to report such matters to the police. "Failure to report such matters to the police, one has committed an offence punishable by law. Any person who hoards or allow another person to hoard goods of which that person is the owner, shall be punished with imprisonment term of not less that five years and not more than ten years," he said.

He disclosed that businessmen are free to import goods that are not illegal adding that hoarding can result to scarcity which may not be good for local markets. Jammeh thanked the GCCI for initiating the programme on behalf of the ministry. It could be recalled that The Gambia government has for more than two decades maintained a very liberal trade regime, which has enabled the private sector to rapidly expand. However, as the private sector prospers, the need arises to ensure that its growth and expansion is done in an orderly and beneficial manner. Of late, the government is concerned by the resurgence of hoarding, practice that is not only unhealthy for the economy, but also illegal and violates the provisions of the Anti-Hoarding Degree, 1995.

Mam Cherno Jallow, CEO of GCCI said this new hoarding bill is here to empower people, thus promoting competitiveness. The day forum was marked by question and answer session. Present at the ceremony were Kebba T Njie, CEO GIPFZA; Beatrice Allen, Communication manager GCCI, among others.