Senet Holdings helps to build The Gambian economy

At one time The Gambia was an extremely popular tourist destination, but in the 90s that influx of European money via the “tourist dollar” dwindled due to a military takeover in 1994 that deterred Westerners from travelling to this beautiful, small African country. There has been something of a turnaround in this recently and tourism is once again on the up. Thanks to a visit from business investors from Crypto888 and Senet Holdings, other areas of the economy are likely to benefit as well.

The Gambian Economy

The Gambia, unlike many of its neighbours suffers from a lack of natural resources and a limited agricultural output, which means that over 60% of the country live below the poverty line and there is a significant dependence on international aid. So, over a number of years, Mamadi Ceesay marketing director of NORGA, a Gambian company, worked hard to attract wealthy investors from around the world. The group of European investors, led by Freddy Bakke, CEO of Senet Holdings responded to his invitation, and the party of business gurus and sport professionals met with NORGA representatives at the Sheraton Hotel in Brufut.

The European investors

Nigel Green, the Chief Financial Officer of Senet Holdings and a former professional footballer in the English Premier League at London club Crystal Palace accompanied Freddy Bakke. The delegation also included former Bulgarian international footballer, Emil Kostadinov, who played for Bayern Munich; Armen Nazarian an Olympic wrestling champion from Bulgaria and the former boxer, Lyubomir Smeonov, who is now also a Hollywood film star.

A sporting role model for Gambia’s youth

The group was also joined by Belgian cycling star Stijn Vanstraelen. The 36-year-old told reporters:

“I am in the Gambia as part of the Senet Holding company delegation and we have some sports link here. Also, as a former cyclist who worked hard on improving my academic work, I think I am a good example to young people. When I was young I was very talented and I am here to try and share my experience with the Gambian children to help them get education and a sports career. It is my first time in The Gambia and it is beautiful to see all the smiling faces. Also, I must say it is a beautiful place to be.''

Sport gives Gambia’s youth a future

The group of investors has already poured resources into building a multi-sports complex in Brufut that has a stadium with artificial turf. During the meeting, Freddy Bakke shared his thoughts about the importance of sport to young people, and said that football in particular had an important role to play in giving youngsters hope for the future. He also said, “Of course you never know when to become professional player, but what is important is to be hopeful and, I think, to be honest, we have to help the young people have a future.”

Gambia is a beacon of hope

Nigel Green spoke eloquently of his first visit to The Gambia 10 years ago and said that he had always found it fascinating and beautiful. He called it “a beacon of hope in an emerging Africa” and remarked that the reports in the Western press that focused on war and more recently the Ebola outbreak, were neglecting the many positive aspects of The Gambia, particularly as a place for Western investment.

We hope that the investment group led by SenetHoldings makes dreams come true for many Gambians, including Mamadi Ceesay, whose dream is that schools will be built and that it will play an important role in the future of The Gambia.