A business firm, 4Stone Capital has revealed plans to invest in The Gambia citing the huge opportunities in the country.
The managing director of 4Stone Capital, Dr Elizabeth Kings-Wali, gave the hint at a press briefing attended by key stakeholders in the African property market.
According to her, although The Gambia’s population is small, her company wants to make use of every opportunity it sees; hence, it is looking at The Gambia.
“This is not about exploring Nigeria enough, or having footprints everywhere, because Nigeria is very big, with 36 states. We are not in all the 36 states, but you cannot have a presence everywhere. However, we are looking at starting with Africa, which is why we are looking at The Gambia,” she said.
Kings-Wali disclosed that the company had just started ventring into real estate in Nigeria, adding that real estate is ever-present and versatile.
“We have decided to start with the Federal Capital Territory, Abuja, so we are now into real estate in Nigeria. As for The Gambia, you know that in Nigeria, everybody loves to travel, and The Gambia is a tourist destination. It is surrounded by water and known for its beaches.
So, we are looking at going into the real estate business there and providing vacation homes for people,” she disclosed.
Kings-Wali explained that, having been in the finance sector, the company also facilitates sector citizenship for people, so this would be a good add on.
“Going to The Gambia may be our first international outing, but it won’t be the last; it is just the beginning. 4Stone is diversifying into the global market,” she said.
The financial market in Nigeria, she asserted, has been challenging, as the macroeconomic situation of the economy has not been stable in recent times.
“We are very confident that before the end of this year, we will see some changes. Some policies have been put in place, and their positive effect will start manifesting before the end of this year,” she said.
Business Development and Corporate Relations manager, Global Properties, based in The Gambia and Senegal, Nyillan Fye, called on Nigerians at home and in the Diaspora to invest in The Gambia property market.
She described The Gambia as a small country with big potential.
“We have come here to say Hello Nigeria! We want them to come to see and own properties in The Gambia. You can go on vacation, live there, take a break from Nigeria for the weekend, invest and make huge returns. Assuming you buy a one-bedroom apartment, you can actually earn up to $10,000 a year on rentals. That is a good investment, and you can actually pay for the property within five to seven years when you buy.
“So, we have seen this opportunity and believe that the best place to start is Nigeria. We did a tour of the United States last year. We spent about six weeks in the US and four weeks in Europe, all to showcase the properties we have along with our partners,” the manager added.
Fye listed the changing lifestyle, convenience, security and good infrastructure in The Gambia as key attractions for investors.
“Recently, we have been hosting this tour from a company in The Gambia, Global Properties, to Nigeria, and they are coming through my company, Top3 Solutions. 4Stone Capital is a leading investment company in Nigeria. The company is doing great, and I am interested in seeing it have a branch in The Gambia as well. Real estate will be a good entry point for them into The Gambia market,” she said.
Speaking on The Gambia, she said: “We are a very small country of probably 2.6 million people, but one thing we are known for is our joy, love and happiness. We are always smiling, joking and making people happy. So, it is only right for 4Stone to come and invest in The Gambia.”
