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FDI in Figures

According to UNCTAD World Investment Report 2022, FDI inflows into The Gambia increased from USD 190 million to USD 252 million between 2020 and 2021, in the context of the global recovery from the global health crisis. The total FDI stock was estimated at USD 914.9 million in 2021. In 2022, global FDI momentum weakened in the context of the war in Ukraine, rising food and energy prices, financial turmoil and debt pressures (UNCTAD’s Investment Trends Monitor). Agro-processing activities and tourism attract most of the FDI. The main investors are India, Lebanon, Mauritania, China, Turkey and the United Kingdom.

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 Estados Unidos Alemanha
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 Estados Unidos Alemanha
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: December 2023