The Gambia is recovering from two decades of dictatorship, with President Adama Barrow succeeded in luring investors back to the ‘Smiling Coast of West Africa’ through a good number of incentive measures. This is a clear sign that Gambian authorities’ efforts to bring investor confidence in the country’s financial sector is yielding fruits. With the help of prominent Diaspora Gambians and international financial institutions, meaningful investors are heading towards the Gambia with the aim of turning the wheels of the country’s economy.
Just a week ago, President Barrow welcomed yet another batch of investors from Norway. Barrow was quick to point out why the country needs investment bailout. His government inherited “a broken economy” that relies on “pay as you go,” with the predecessor administration “taking soft loans for three months to fix things and went back to the same cycle.”
Gambian leader applauded Gambians in Norway for being “the true Ambassadors of their country.”
The influx of investors has been possible thanks to ministerial collaboration spearheaded by the Gambia’s Ministry of Trade. This reduces bureaucracy and unnecessary bottlenecks resulting to the signing of Memoradum of Understanding involving the government and business partners. “Time is important and my government is ready to do business,” President Barrow assured.
Investors were led to State House by Gambian activists based in Norway – Neneh Bojang and Ndey Jobarteh who wanted the West African country to tap into mountains of investment opportunities in the Scandinavia. Norwegian investors have the potential to invest in health and energy sectors to complement the government’s efforts as well as revive an economy left in tatters by dictator Jammeh.
Also meeting President Barrow was Mamadi Ceesay, the Norwegian born Gambian Managing Director of Nutrition Norga, a Norwegian Gambian organisation. Mr. Ceesay brags selling what he called the “best of the two worlds – the Gambia and Norway.” His organisation aims create thousands of job opportunities for Gambian youths across the country. This is a welcoming development in a country with high unemployment rate, which forces thousands of youths to embark on what has become a “journey of no return to many.” One of the biggest challenges facing the new government includes turning the stagnant wheels of the Gambian economy.