GIPFZA - Success Stories

Success Stories

M.A. Kharafi & Sons

M.A. Kharafi & Sons have invested heavily in The Gambia and GIPFZA has assisted the Company in their two major investment projects as follows:-

Sheraton Hotel Resort & Spa, Brufut

With an investment of over $50 million by M.A. Kharafi, the construction of the Sheraton 4 star hotel resort and spa is providing impetus to the growth ad development of The Gambia's tourist indutry and is playing a dominant role in The Gambia's development process, providing employment opportunities as well as enhancing foreign exchange earnings for the country.

With the aid of GIPFZA, M.A. Kharafi were granted a Special Investmenet Certificate (SIC) up to the year 2010 entitling the company to exemption from withholding tax and tax dividends, customs duties, sales tax and turnover tax.

Kafuta Farm

M.A. Kharafi & Sons have initially invested €6 million which is expected to reach €10 million in 2 years in the farm at Kafuta consisting of 222.12 Ha and are committed to continuing improvements in agricultural productivity which will inevitably reverse the underinvestment in food production. This sub-sector is becoming a major economic activity in the Gambia due to its vast export market opportunities and conditions favouring its production in the country.
GIPFZA assisted the company to gain a Free Zones Licence entitling M.A. Kharafi to exemption from custom duties, corporate tax, turnover tax and sales tax. Permission to sell onion and potatoes produced on the farm to local markets was granted by GIPFZA until October 2008.