By Omar Bah
The investment climate in The Gambia has undergone a remarkable transformation since 2017. According to the United Nations Conference on Trade and Development (UNCTAD), the country’s Foreign Direct Investment (FDI) inflows have seen a staggering increase, rising from $18 million to an impressive $249 million (D17,156,100,000) in 2021. This surge is a result of heightened investor interest across sectors such as manufacturing, agriculture, and real estate. The momentum continued in 2022, with FDI levels remaining robust at $236 million, reflecting the growing global confidence in The Gambia’s economic potential.
UNCTAD attributes the significant rise in FDI to strategic reforms and improved investor confidence. The UNCTAD report underscores the progress made while highlighting areas for further improvement to sustain this growth trajectory. These reforms and enhanced confidence not only drive the surge in FDI but also signal The Gambia’s economic stability on the global stage.
The report also notes that the investment surge has been widespread across various sectors, with a threefold increase in the issuance of Special Investment Certificates (SIC) to non-Gambians between 2021 and 2023 compared to 2014–2016. Notably, manufacturing, agriculture, and energy exploration have been top attractions for significant investments, drawing interest from global oil, gas, and hydrogen companies, as well as investors from Germany, India, Lebanon, and the United States.
