16 May 2017

Gambia: African-Export-Import Bank to Start U.S.$500 Million Investment in Gambia

Photo: The New Times
Smale-scale traders at the Rubavu-Goma border post transact business (file photo).

If all goes as plan, the African-Export-Import Bank (Afreximbank) is planning to kick-start a US$500M investment in tourism and agriculture as well as other trade logistics.

Benedict Oramah, president and chairman of Board of the Bank told journalists at the presidency in Banjul shortly after a close-door session with President Barrow at his Fajara office.

Mr. Oramah who is in Banjul with a high power delegation of African business people interested in investing in the Gambia said, they are in the country primarily to congratulate His Excellency President Adama Barrow for his assumption to office and also congratulate the people of Gambia for been true to democracy.

"We also came to discuss how we can support Gambia in the various priority areas of the new government, given the transparency, and commitment we've seen in their part to the people of the Gambia. We hope that we can support the Gambia, not only through financing but also to bring in investors that can further facilitate the growth of the private sector," he said.

He continued: "We are looking at starting initially with US$500M in the key sectors that the government has identified and that are agriculture, tourism and other trade logistics. So we are looking at supporting the growth of tourism, helping to convert the Gambia from the current type of tourism to the high end type of tourism that will bring more money, with less pressure on the environment," he said.

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