flag Gambia 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.


Country Comparison For the Protection of Investors

  Gambia Sub-Saharan Africa United States Germany
Index of Transaction Transparency* 2.0 5.5 7.0 5.0
Index of Manager’s Responsibility** 5.0 3.5 9.0 5.0
Index of Shareholders’ Power*** 5.0 5.5 9.0 5.0

Source: Doing Business - Latest available data.

Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action.

Foreign Direct Investment 202020212022
FDI Inward Flow (million USD) 190249236
FDI Stock (million USD) 663.1914.91,151.0
Number of Greenfield Investments*
Value of Greenfield Investments (million USD) 0010

Source: UNCTAD - Latest available data

Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.


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Tax Rates

Value added Tax (VAT)
15% (standard rate).
Exemptions include: basic foods (rice, flour, sugar and milk), financial services, educational services and certain imports, prescription drugs, life insurance, health insurance and reinsurance in respect of life or health, rental of residential property, etc.
Company Tax
Withholding Taxes
Dividends: 15%, Interests: 15%, Royalties: 15%.
Social Security Contributions Paid By Employers
10% (Social Security and Housing Finance Corporation - SSHFC) plus 1% (Industrial Injuries Compensation Fund - IICF).
Other Domestic Resources
Gambia Revenue Authority
Consult Doing Business Website, to obtain a summary of the taxes and mandatory contributions.

Individual Taxes

Personal income tax Progressives rates from 0% to 25%
From GMD 0 to GMD 24,000 0%
From GMD 24,001 to GMD 34,000 5%
From GMD 34,001 to GMD 44,000 10%
From GMD 44,001 to GMD 54,000 15%
From GMD 54,001 to GMD 64,000 20%
Above GMD 64,000 25%

Country Comparison For Corporate Taxation

  Gambia Sub-Saharan Africa United States Germany
Number of Payments of Taxes per Year 49.0 36.6 10.6 9.0
Time Taken For Administrative Formalities (Hours) 326.0 284.8 175.0 218.0
Total Share of Taxes (% of Profit) 48.4 47.3 36.6 48.8

Source: Doing Business - Latest available data.

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Investment Opportunities

Tenders, Projects and Public Procurement
Fontier Market Network, Tenders in Africa
African Tenders
African Development Bank Group, Public Oversight Body
DgMarket, Tenders Worldwide
Setting Up a Company
Consult Doing Business Website, to know about procedures to start a Business in Gambia.
Useful Resources
Gambia Investment and Export Promotion Agency (GIEPA)
Economic Developments and Prospects in Gambia - African Economic Outlook
Business Portal for Africa

Business Setup Procedures

Setting Up a Company Gambia Sub-Saharan Africa
Procedures (number) 6.00 7.51
Time (days) 8.00 21.30

Source: Doing Business.


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Latest Update: May 2024