#Article (Archive)

Banking and Finance Exposition Registers Success

Jun 9, 2008, 4:47 AM | Article By: By Baboucarr Senghore

The 2008 exposition on project financing and banking organised by the Gambia Chamber of Commerce and Industry in collaboration with the International Finance Corporation ended at the Paradise Suites on Saturday amidst a rousing success.

The exposition, which draw audience from the banking and finance sector in the Gambia, and from the international and regional financial institutions, was geared towards providing a platform for exchange of views and information on banking opportunities in The Gambia and abroad.

The three days forum, on the theme: Financing for Development-Accessing Information for Funding centered discussions on banking and financial industry concerns and SMEs access to Finance, to promote the development of private businesses, especially the Small and Medium Enterprises.

Also part of the deliberations were to provide information to the private sector on how to access financing for projects, to showcase the latest solutions, products and technologies in banking and financial services, provide a platform for joint ventures among others.

The exposition held at the Paradise Suites hotel also witnessed the presentation of a report by a consultant based on a survey made on all banks and financial institutions in the Gambia to bring about issues and constraints about the Gambia's banking and financial sector among other issues.

Speaking at the opening ceremony, Mr. Bai Matarr Drammeh, President of The Gambia Chamber of Commerce and Industry (GCCI) said the chamber as the business support service institution in The Gambia, has reoriented its strategy to discharge its mandate as a service-oriented institution.

"I wish to state that the Gambia Chamber of Commerce and Industry is aware of the fact that the Government of the Gambia continues to give priority to private sector development as the engine of growth and development", he said.

For her part, Mrs. Ida Gaye, Permanent secretary, State Department for Finance and Economic Affairs, said the gathering could not have come at a better time when advanced economies are facing credit crises leading to spill-over effects in developing nations.

She noted that the Government of the Gambia in its quest to eradicate poverty continues to develop sound macroeconomic tools and policies in order to hedge the most vulnerable of people from its devastating impacts.