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GBENGA OLANIYAN, the CEO of Estate Links, led a Nigeria trade delegation that was in The Gambia recently to explore investment opportunities in the West African country. In this interview with CHUKA UROKO in Banjul, the Gambian capital, Olaniyan explains why Nigerian investors should invest in the country’s economy, especially in real estate where the rental market is very active and the yield is way ahead of what obtains in Nigeria. He also speaks on other relevant issues. Excerpts:
Why do you encourage Nigerian investors to invest in The Gambia given the country’s small market and undeveloped economy?
There are two things that informed this decision. I see a lot of people who look at coming to invest in Gambia as a one-way thing. I have been coming to this country since 2008 and I have actually invested in its economy. What I am thinking of is that if we must do direct foreign investment, let us as much as possible, keep it within Africa. Gambia provides a mid point where you have a vibrant tourism industry and tourists come around and rent properties.
So far, the investment I have been involved in here has done excellently well and that is real estate. Some members of this team are already looking at other opportunities. Someone is already looking at opportunities in manufacturing. Actually, there are some opportunities one could be looking at here.
But at the same time, in a small country like this that works, where electricity is almost uninterrupted, so many things are right. There are so many things we can learn from here and take back home. For me as a regular visitor to this place, the small bungalows we saw at the Dalaba Estate struck me as something one could invest … Read More...