Gambia: Investing

FDI in Figures

According to UNCTAD's World Investment Report 2023, FDI inflows into The Gambia decreased from USD 249 million to USD 236 million between 2021 and 2022, but persistent at historically high levels. At the end of the same period, the total stock of FDI was estimated at USD 1.1 billion, around 54% of the country’s GDP. Agro-processing activities and tourism attract most of the FDI. The main investors are India, Lebanon, Mauritania, China, Turkey and the United Kingdom. In 2022, the African mobile money platform Wave established its presence in Gambia. Additionally, Turkish company Negmar revealed its intentions to develop a 24-hour ferry service along the Gambia River, aiming to facilitate the movement of goods, people, and services within the country, and the government signed a public–private partnership to develop a large hotel on the outskirts of Banjul.

The Gambia boasts a dynamic private sector, while the government is actively undertaking economic reforms to bolster local investment and attract foreign direct investment. After securing re-election last year, Adama Barrow, president of Gambia, initiated a green-focused national development plan aimed at expanding the private sector by 2027. The plan aims to capitalize on Gambia's comparative advantages. The Gambian Government is dedicated to enhancing infrastructure by upgrading the road network, telecommunication system, seaport, airport, and electricity grid. Despite these improvements, challenges persist in the business environment, particularly due to inconsistent enforcement of regulations, affecting both local and foreign investors. However, the government is actively addressing these issues through regulatory and legislative reforms, along with initiatives aimed at streamlining business processes. Foreign and domestic private entities enjoy the right to own business enterprises and engage in all forms of remunerative activities in The Gambia, receiving equal treatment as domestic firms. Except in defense-related industries, which are closed to all private sector participation regardless of nationality, there are no restrictions on foreign ownership or control of businesses. While there is no mandatory screening of foreign direct investment, the government reserves the right to conduct screening in cases of suspected money laundering or terrorism financing. The Gambia ranks 98th among the 180 economies on the 2023 Corruption Perception Index and 93rd out of 184 countries on the latest Index of Economic Freedom.

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Latest Update: May 2024