GNPC has reworked from a loss-making to a worthwhile enterprise – | Aici


Written by Assan Sallah, (LTN) Germany

Former Managing Director (retired) of Gambia Nationwide Petroleum Company (GNPC) Mr. Yaya F. Barrow has turned GNPC right into a worthwhile firm in his quick tenure as director. Mr. Barrow was the Managing Director of GNPC from October 2018 to September 2022. He comes from the personal sector and has about 25 years of senior administration expertise within the monetary providers sector having labored at Customary Chartered Financial institution (SCB) in The Gambia, Center East, India and East Africa .

Till his retirement from Customary Chartered Financial institution, he was the Head of Banking Operations (Commerce, Money and Commodities) for the Japanese and Southern African areas within the Shared Service Heart at Customary Chartered Financial institution Kenya, overseeing 6 nations.

Previous to that, he briefly served as Regional Chief Data Officer (CIO) South Asia, SCB India, Mumbai and served as Chief Data Officer (CIO), SCB Afghanistan. This was preceded by 14 years working at Customary Chartered Financial institution Gambia. Most lately, he held the place of Deputy Managing Director and Head of Operations at AGIB Financial institution Gambia earlier than assuming the place of Managing Director, in October 2018.

Certificates of Mr. Barrow began with a Certificates of Increased Schooling from Milton Margai Lecturers Faculty underneath the Institute of Schooling, College of Sierra Leone, with a Main in Arithmetic and a Minor in Geography. He went on to grow to be an AFGRAD Fellow and studied on the College of Tennessee Knoxville, USA, the place he acquired a Masters in Public Administration specializing in Public Finance and a B. Sc. in Enterprise Administration with double majors in Finance and Arithmetic.

ACHIEVEMENTS UNDER THE DIRECTORSHIP OF YAYA F. BARROW – 2019 TO 2022

FINANCIAL SUCCESS

Earlier than becoming a member of the group within the latter half of 2018, GNPC was a loss-making enterprise. In 2017 the establishment misplaced a complete of Dh341,379,000 and in 2018 the whole loss reached Dh409,899,000.

Nonetheless, within the first full yr of Mr. Barrow as Managing Director in 2019, GNPC succeeded in turning the group right into a worthwhile enterprise. In 2019 the corporate registered a internet revenue of Dh11.6M and in 2020 it achieved a revenue of Dh97.7M.

Due to this fact, for the primary time within the historical past of GNPC, the Company underneath Mr. Yaya F. Barrow’s, has been in a position to pay authorities dividends of D3,000,000 and D6,000,000 for 2019 and 2020 respectively. The administration account for 2021 exhibits an enormous revenue of greater than D70milion dalasi. Nonetheless, exterior auditors are but to finish the audit of the 2021 accounts. In brief, MD Yaya F. Barrow with the help of the Board, administration and workers have modified and reworked GNPC and positioned it on the trail of profitability.

INFORMATION SYSTEMS AND BUSINESS TRANSFORMATION

Through the administration of Mr. Barrow, a variety of IT methods had been migrated and new ones had been created to enhance inner controls, enhance effectivity and successfully rework the way in which GNPC does enterprise. The accounting package deal has been moved to the FinEx Accounting Bundle from the Navision Accounting Bundle attributable to an inappropriate improve of the previous system that forestalls the manufacturing of administration experiences, annual monetary statements, and so on. The Payroll system was additionally migrated to the Payroll Bundle from the Navision Payroll system. attributable to vital deficiencies within the experiences generated by this system, particularly on loans.

As well as, the next new methods had been developed in-house by the IT staff by way of the implementation of a working group led by the Finance staff: Automated Coupon Administration System (to stop fraud associated to coupons; to make sure computerized and real-time coupon issuance); Station Software System (for on-line monitoring of Service Stations actions). GNPC underneath Mr. Barrow additionally applied an Computerized Tank Gauge System to make sure environment friendly gas inventory administration and cut back inventory losses.

REASSEMBLY AND STANDARDIZATION

In recent times, the Company in partnership with GNPC (Ghana) underneath an MOU, has labored on an industry-standard Service Program for senior administration. The prevailing models had been merged into two new Departments specifically; The Division of Commerce (comprising Advertising and marketing, Bulk and Provide and Retail models) and the Exploration and Manufacturing Division (comprising Geoscience, Reservoir and Drilling Engineering models). Administrators are appointed to guide these departments in addition to the present Audit, Operations and Human Assets Departments. This recruitment gives an entire success of the variety of administrators wanted versus just one in 2018.

TRAINING / SKILLS BUILDING

GNPC Administration underneath Mr. Barrow continued to develop the institutional capability wanted to fulfill the challenges and capabilities of the {industry} and to direct and speed up the nation’s exploration efforts. Staff are despatched for long-term coaching abroad to enhance their careers. Mr. Barrow additionally began funding for workers to attend short-term company coaching, industry-related and conferences to enhance their abilities to have the ability to perform their work and tasks successfully and effectively, and to organize them for future challenges. Coaching cooperation has additionally been established with the signing of an MOU with PETRONAS (Malaysia) coaching facilities UTP and CAPE (2019).

Since becoming a member of the group, greater than 80% of workers in any respect ranges have had one type of coaching or the opposite both regionally or abroad.

DOWNSTREAM SECTOR

The downstream sector since Mr. Barrow features a community of 10 petrol stations throughout the nation. The corporate continues to develop its downstream sector by constructing a community growth plan to make high quality and inexpensive gas merchandise accessible to Gambians throughout the nation.

Community Enlargement is vital to delivering GNPC’s high quality service to the doorsteps of its rising buyer base. Between 2010-2016, 9 service stations had been constructed. Nonetheless, in 2021, GNPC underneath the administration of Yaya F. Barrow constructed a flagship station in Brusubi close to the Head Workplace Constructing. Development of the airport interchange has been accomplished bringing the whole variety of stations to 11.

UPSTREAM SECTOR

As a company entity and minority fairness accomplice representing the federal government’s business pursuits, GNPC actively promotes the Gambia’s petroleum potential by way of its Division of Exploration and Manufacturing (together with the Division of Petroleum and Power and the Transport Fee) to draw traders to the capital. -a deep analysis subject the place single jobs value tens of tens of millions of {dollars}.

That is executed by way of oil and gasoline exhibitions and conferences around the globe the place GNPC and sister NOCs have interaction in technical discussions, data sharing, and charting the way in which ahead in exploration.

Because of this, traditionally, GNPC acquired the primary taking part curiosity within the license from the exploration part in 2019 when it signed a Joint Working Settlement (JOA) with British Petroleum within the A1 Block. Nonetheless, attributable to modifications in coverage and technique, BP stopped exploring the frontier markets and gave its license to the Gambian authorities. Because of this, GNPC, the Petroleum Fee and the Ministry of Petroleum are negotiating with BP to get compensation for failing to implement the work plan as agreed within the licence. The cost was made to the federal government in 2021 throughout Mr. Barrow as MD.

The Company has arrange a Work Analysis Mission Portfolio which incorporates the creation of a Knowledge Heart for Land and Area owned by GNPC, Preparations for entry rights to open acres particularly coastal blocks and modifications to the Heart to allow it to be seen and aggressive in its growing exercise.

SOLARIZATION PROJECT

According to the Authorities’s renewable vitality coverage goal and the worldwide vitality transition agenda, the corporate has partnered with UNIDO eSolarization of all GNPC and Petroleum Home stations. The particular goals of the venture had been to champion renewable vitality; lowering the corporate’s excessive electrical energy invoice. The venture is co-financed by a grant from UNIDO overlaying 30% (US $209,000) of the venture value and GNPC as much as 70% (US $488,000) of the venture value. The venture has been accomplished.

Set up of CCTVs: Your complete headquarters constructing and premises, in addition to ten Filling Stations throughout the nation have been put in with CCTVs. This proved to be helpful and helped the Directors to see movies of incidents of theft, theft and fraudulent actions on the stations. CCTVs assist in the identification and arrest of criminals who attacked the GNPC Abuko Filling Station.

INTERNATIONAL COOPERATION

This group has signed Regional Memoranda of Understanding (MOU) with PETROSEN of Senegal, GNPC of Ghana, ONAP of Mali. There are plans to resume the MOU with Mauritania’s SMHPM and signal new ones with PETROGUIN (Guinea Bissau), PDSL (Sierra Leone), SONAP (Guinea Conakry) and NOCAL (Liberia

Worldwide Recognition, Honors and Awards: GNPC has additionally been acknowledged for equal gender illustration and technical management in an {industry} the place globally girls make up solely 7% of the technical and administration workforce and has attracted worldwide awards for contributions and shows made by Executives in oil and gasoline. and vitality fields.

Joint Public Actions and Different Industrial Contributions- GNPC has ready an accident and emergency ward in Brikama, WCR; Bansang Hospital Maternity Ward.

GNPC contributed a million Dalasi in 2020 to the fund elevating program to answer Covid’19 and lately bought some gear for the Covid Heart in Bakau. GNPC has additionally donated a million Dalasi to the Scorpions AFCON debut in 2022.

Through the gas disaster in 2021, GNPC saved the nation by importing 7,000 MT of Gasoline Oil and 5,000 MT of Gasoline to make sure that the nation continues to have gas.

In brief, all these achievements are registered underneath Mr. Yaya F. Barrow as MD with the help of the Board, Administration and workers of the Affiliation from 2019 till his retirement in 2022.


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