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FDI in Figures

According to UNCTAD World Investment Report 2021, FDI inflows into The Gambia increased slightly from USD 44 million to USD 46 million between 2019 and 2020, despite the global economic crisis triggered by the Covid-19 pandemic. The total FDI stock was estimated at USD 519 million in 2020. In 2021, global FDI flows rebounded strongly, but FDI flows to African countries (excluding South Africa) rose only moderately (UNCTAD’ Investment Trends Monitor). Agro-processing activities and tourism attract most of the FDI. The main investors are India, Lebanon, Mauritania, China and the United Kingdom. The global pandemic and related emergency measures have halted tourism (the mainstay of The Gambian economy), disrupted trade, and reduced remittances and private capital inflows.

The Country ranked 155th worldwide in the 2020 Doing Business report, losing five places since the previous edition. The Gambia offers tax incentives, transparent and simple procedures as well as a strong potential in the tourism and re-export sectors. Its limited size and its landlocked position can be impediments to investment. The country should improve the access to electricity and to the credit, simplify the tax system, better protect minority investors and resolve issues due to insolvency. Since the election of new President Adama Barrow, the government is working to attract more foreign investments in the country. These investments are mostly concentrated in the agro-food and tourism sectors. The government has identified several areas as 'priority sectors' that attract a Special Investment Certificate (SIC), which provides a range of incentives, including duty exemptions and tax holidays. There are no laws or practices in The Gambia that discriminate against foreign investors.Through the National Entrepreneurship policy, the State promotes business creation in order to diversify the economy. Tax advantages, simple procedures and tourism’s strong potential are some of the country’s main assets.


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 201920202021
FDI Inward Flow (million USD) 71190252
FDI Stock (million USD) 473.5663.1914.9
Number of Greenfield Investments*
Value of Greenfield Investments (million USD) 18900

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%.
Bilateral Agreement
Gambia and Spain are not bound by a Double Taxation Agreement.
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
Contact the Spanish Embassy.
Contact the Embassy in Spain.
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: February 2023

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