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City of Banjul
Sunday, October 25, 2020

Italian Investors Boost to Finance Gambian Businesses

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The day-long forum brought together entrepreneurs venturing in the areas of building and construction, water and electricity, financial companies, ICTs and hotels. 

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The objective of the  programme, according to officials, was to loan companies to build and develop their businesses for a collective development, companies that were opportune to be part of the business forum will summit a business document that will qualify them for an opportunity to finance their companies.

In his welcoming remarks, the coordinator for WACP Mr Bai Matarr Drammeh who also doubles as the president of the Federation of West African Chambers of Commerce and Industry (FEWACCI), welcomed the investors and described their initiative as laudable, noting that the aim is to introduce Gambia to the business world. “In every business, strategy is very important. The future is very bright and our focused is to develop and transform the Gambia into a better business world.”

The WACP coordinator, however, challenged participants to take up the opportunity bestowed on them by the investors, noting that other sectors are also put into consideration and will soon reach out to them. 

Mr Drammeh fadded that another Italian investor last month launched his company through WACP and in three months Aluworld will open its factory in The Gambia and already the company has sent a representative from the Gambia to be train on aluminum processing in Italy for six months.

The CEO of WACP Glan Matteo Balestrine said his company’s mission is to develop Gambian businesses and Africa in general by introducing investors to their choice of businesses.

According to Balestrine, Gambia is the gate way to West Africa with lots of investment  opportunities which he described as one’s tool to achieve its goal. 

He further revealed that the first project would start before the end of this year with companies that have successfully summited their business plans for financial support and partnership. “It’s very important for a local company to partner with a foreign company, both public and private sectors. We are here to sustain businesses and install new activities in Gambian business despite its size”. 

Among the supporting investors from Italy is Idraulica Lombarda,  founded in 1984 dealing in the areas of  plumbing, energy and renewable technologies with products like photovoltaic Solar Panels, Water Conditioners Group DCR Networks, firefighting health services and water purification.

Examarketing Consulting, is currently operating with five companies in Italy and two in Portugal, that  specialises in technology, food industry, textiles and clothing, constructions, energy etc.

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