By Fatou Dahaba
The American Chamber of Commerce (AmCham) The Gambia plans to kick off the first-ever Gambia-US Diaspora National Investment (NDI) Tour to the United States of America. The aim is to engage Gambians in the diaspora for investment opportunities. The tour will occur from October 27th, 2024, to November 9th, 2024.
During a press briefing on Friday morning at the AMCHAM office in Pipeline, officials stated that the NDI aims to establish a platform for channeling the national savings of residents and diaspora Gambians. The platform will finance bankable strategic development projects that serve the national interest.
The initiative will allow Gambians in the diaspora to invest in development projects on an equity basis, and dividends will be paid according to their investment for a given period.
The tour will begin in New York City from October 27th to 28th; Atlanta, Georgia, from 1st to 2nd November; Dallas, Texas, on November 3rd; Madison, Wisconsin, on November 5th; Seattle, Washington, on November 8th and Washington, DC, on November 10th, respectively.
Muhammed Lamin Drammeh, Chief Executive Officer of AMCHAM Gambia, said one of their core values is advancing the interests of both countries by promoting and facilitating trade and investment.
He said his office will facilitate a team from The Gambia that will visit all these cities and engage with Gambians to explain the concept of the project, which is not government-owned but a national project, a venture in which every Gambian can have a stake of 1 dalasi to 1 million.
“We want Gambians to own it; we will give everyone an opportunity to have a hand in it and to have their own investment in it. It is a national treasure proudly owned by the Gambia and better than taking grants from outside. Foreign direct investment is not ours, and this initiative is being implemented in other African countries. We want to own this, so we cannot do this without the diaspora because they’re investing heavily in the country, especially in remittances. Now we are giving them a new opportunity that would allow them to invest back home,” CEO Drammeh explained.
Mr. Drammeh expressed that the journey they’re embarking on would change the narrative, whereby people will take ownership of things or areas they have invested in. He said they will do this by creating a tool where you pay to get on it, and it will take you where you need to go. He added that the project would create a bottleneck issue for the country.
He said it is a national project venture called a bypass that will enhance direct ownership, and this is the first of its kind in the country. He affirms that there will be subsequent ventures for Europe and Gambia to ensure everyone participates.
‘This is ownership of through investment, with the dividend coming in, you own it, and over the period, toll will generate that revenue whereby you gonna get your money back.’
The national investment enhances economic growth, increases profits, funds various sectors like health, education, industry, and agriculture, improves living standards, creates sustainable jobs, and boosts national income.
