Business Investment in The Gambia: Commercial Investment in West Africa

A thriving economy founded on a successful private sector is linchpin to The Gambia's governance orientation. It appreciates that a government's only measure of credibility lies in its ability to translate the numeric of economic statistics into food on the peoples' tables, roofs on their heads and security in their minds, all these while guaranteeing a critical level of development commensurate with whatever is internationally apace.

GOOD GOVERNANCE, BIG BUSINESS

With a population of 1.3 million and ticking, The Gambia operates a multiparty, parliamentary democracy committed to the rule of law and a liberal, free market economy. Gaining independence from 200 years of British colonial rule in 1965, it moved to become a republic 5 years later and has since remained a beacon of political stability, transparency and accountability.

Inheriting an economy with a natural resource base of about nil, the foundations of which was built around taxes and tariffs, The Gambian government quickly realised that the only way to achieve meaningful development and augment the country's tiny resource base would be through enhanced private sector development. It would also demand substantial foreign capital injection and the accompanying technological expertise as well as a well-developed human resource base and access into the international market.

The Gambia has vigorously pursued a socio-economic policy committed to free enterprise and private sector development. The nerve of which is the inauguration of "The Gambia incorporated… Vision 2020" initiative, a policy document representing the blueprint designed to guide the country's progress into its envisioned future.

Encapsulated in it is the will and aspiration of the people and government of The Gambia to transform the country into a "financial centre, a tourist paradise, a trading, export-oriented agricultural and manufacturing nation, thriving on free market policies and a vibrant private sector. Sustained by a well-educated, trained, skill, healthy, self reliant and enterprising population.

Accessibility

As a holiday destination the Gambia has always provided guarnteed winter sunshine. It is well served by cheap chartered flights from the UK, Germany, Belgium, Holland, Denmark, Sweden and Norway all seeking winter sun and relief from Northern winter climes.

It is a four hour drive to Dakar International Airport, in neighbouring Senegal which is the international air hub for this region of West Africa. Direct flights from here exist to Paris, New York, Torronto, Rio, Dubai, the Middle East, South East Asia and major African destinations such Kenya, South Africa and Nigeria.The Gambia is now considered a world class tourist destination. Forty years ago there were just two hotels in the Gambia. Now there are several hundred offering a range from a few pounds to five hundred pounds a night. Saudi Arabian money is funding the building of further five star luxury hotel developments along the coast.

There is a thriving, expanding European ex-pat community which now enjoys the low cost and high standard of living here. This ex-pat community creates a market for good quality rental accommodation. This in turn is driving the investment market to meet the rapidly increasing demand.

Legal and Civil Infrastructure in The Gambia

Propety ownership is an integral part of the Gambian constitution. Land and property law in the Gambia is based on the British legal system and subject to the strict and unequivocal terms which goven it. This ensures that your property investment is absolutely secure. All matters are dealt with in English and many Gambian lawyers have qualified and practiced in the UK itself. As with all administrative systems minor inefficiences may exist within Gambian bureaucracy but fees paid to accredited Gambian lawyers will often speed up the conveyancing process and dispell any uncertainities regarding sharp practice, bribery or taxation issues.

As mentioned above all utilities rates and taxes are locally and centrally fixed and controlled by national companies and government bodies.