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Despite its limited size of the market, many industries offer potential investors market opportunities. This is in addition to the National Development Plan (2018-2021), which sets out a strategy for stabilizing the economy and promoting medium-term growth.
What Are The Current Investment Condition & Main Investing States In Gambia?
Foreign direct investment (FDI) into Gambia decreased marginally from USD 33 million to USD 32 million between 2018 and 2019, according to the UNCTAD World Investment Report 2020. In 2019, the total stock of FDI was projected to be USD 443 million. The majority of FDI goes to agribusiness and tourism. India, Lebanon, Mauritania, China, and the United Kingdom are the major investors. Tourism (the Gambian economy’s mainstay) has been suspended, trade has been interrupted, and remittances (money transfer to Gambia from abroad) and private capital inflows have been limited due to the global pandemic and related emergency steps.
What Is The Fastest Growing Sector In Gambia For Investment?
In recent years, the Gambia has grown in popularity as a filming location for sub-regional filmmakers, particularly Nigerians and Ghanaians. However, non-Gambian producers, directors, and already well-known actors and actresses from Nigeria produce the majority of the films shot in the country to capitalize on the foreign market
Most of Gambian diaspora and investors can take advantage of these investment opportunities by sending money to Gambia online and by learning more about the entertainment industry and joining the value chain. You’ll be shocked to learn that some Gambians are effective in this region.
The Bottom Line:
Given the 90% cell phone penetration rate and steady growth in internet connectivity with 3G and 4G technology readily available, one general field that can draw foreign investment is mobile technologies. Gambians’ strong presence on social media also provides marketing and advertising companies with opportunities. As well as, Gambian Diaspora prefer online money transfers to Gambia with just a few taps through a mobile application.