Gambia News : US$ 47 million investment for Gambia

Jun 01,2008 00:00 by editor

The Divisional Chief of Finance and Treasurer of the Islamic Corporation, Mr. Seedy Keita, has disclosed the Royal Atlantic Residence Company was set to invest a capital of US$ 47 million in the Gambia.

Keita said after one year of consultations and formalisation, officials of the m ulti-million-dollar company agreed to invest in the country.

Speaking at a press conference here Friday, he said the investment was due to the stable macro- economy, peace and stability of the country as driving demand from the people and also the country being a member of ICD.

According to him, the project has it own merits and has local sponsors and the r ecent launching of a Gam Petroleum fuel depot in the country was a clear testimony to the positive direction of the project.

Gam Petroleum CEO, Mohammed Bazzi noted the project was first of its kind in sub -Sahara Africa and they have different designs for different people, noting that they will build high-class residence with swimming pools, conference centres, apartment and houses.

General Manager Gamces Amadou Samba disclosed the project will commence 22 July and will create a lot of job opportunities for the Gambia, such as employment an d the use of local materials.

Samba assured the nation of high quality work from the company.