GACH Doesn’t Seem to Have Financial Muscle to Import Fuel Vessel

By: Fabakary B. Ceesay

According to the three letters written on behalf of GACH Global Trading Company by one of their clients, VISTA Bank, it seems like Abubakary Jawara’s Company, which has spread its business tentacles into every money making business sector and the economy of the Gambia, from mining, construction, Agricultural products, firearms and in mid October decided to strengthen his muscles business by venturing into fuel products business without a strong financial footings to deal with one of the world’s most money-spinning businesses.

Mr. Jawara, according to sources closed to him, was knocking all doors to secure loans to be able to import fuel vessel to kick start his business.

According to information, investigated by Trumpet newspaper with documented facts, GACH global’s only financial hopefuls was VISTA Bank whom Mr. Jawara approached to write on behalf of GACH a “Letter of Intent and financial capacity as a requirement to obtain necessary quotation for the supply of Premium Motor Spirit Oil (PMO) and Automotive Gasoline Oil” (AGO) into the country.

According to our investigation, the three letters written by VISTA Bank, dated 18th, 20th and 22nd October 2021, respectively, were addressed to “Challenge Petroleum and Petrochemicals Storage and Distribution Limited”, located at Garba Jahumpa Road, Bakau, one to a Nigerian Company call “Funlai Nigeria Limited” at Isheri Berger, Lagos State and “Zomi Industries Limited” at Sabo Alaba Ojo Lagos and copied to Guaranty Trust Bank at 7B, Airport Road Warri, Delta State, Nigeria.

A business partners told Trumpet, “GACH at the time did not have the financial means or any valuable asset to use as collateral to import a vessel of fuel into the country”.

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