Stakeholders meet on July 22 Business Park

Monday, August 25, 2008
Stakeholders in the business sector were on Friday hosted to a day’s forum organised by the Gambia Investment Promotion and Free Zone Agency (GIPFZA), in collaboration with the Gambia Investment Group and the Gambia Chamber of Commence and Industry, at the Paradise Suites Hotel, Kololi.

The forum attracted prominent Gambian business personalities with the aim of exploring ways and means in which successful investment can be made at the new July 22nd Business Park at the airport in Yundum.

Speaking at the forum, Kebba Njie, the chief executive officer at GIPFZA, said his agency deemed it fit to create an opportunity for local investors to take advantage of the business park, as they have extended it to foreign investors. He expressed the need for Gambian entrepreneurs to step forward as potential partners and invest in the park in order to enhance the country’s business sector.

CEO Njie then thanked the business people for attending the forum and implored on them to take ownership of the park since it had been created for every Gambian.

In his presentation, Yaya Pito Kassama, the director of Free Zone at GIPZA, described the park as a good area for successful business investment, considering its strategic location. Mr Kassama said the park has a total investment of US$6.2 million and has a back-up for energy, waste water treatment plant, networks for telecom, electrical supply, sewerage, as well as portable water.

“Investing at the park is more easier than any other areas in the country. At the park, tenants will increase cash flow by leasing property and investing in business, as well as benefit from clustering (agro and fisheries expected to be major industries). Tenants would not have to deal with  maintenance, security, expansion, start up and closure,” he informed the business community.
According to Kassama, interested investors most be financially sound and experienced in developing or managing commercial property, access to capital for marketing properly, as well as ability to attract and retain international grade tenants, amongst others. He then urged the business community to invest at the park.

Bai Matarr Drammeh, the president of GCCI, amplified call for members of the business community to invest at the park.

Muhammed Jah, a prominent Gambian business entrepreneur, described the forum as encouraging and suggested the setting up of a small committee in a bid to ensure quick investment at the park. Other speakers at the forum included Fatou Njie, the director of Investment Promotion at GIPFZA.

Author: by Hatab Fadera & Amadou Jallow