Category Archives: Gambia News

Gambia News

The growth of competition laws and enforcement in Africa

Greater Cape Town. January 2007. Photo Credit: Andrew Massyn

By Lerisha Naidu, Partner, and Angelo Tzarevski, Senior Associate, Competition & Antitrust Practice, Baker McKenzie Johannesburg African competition law on the continent is the subject of notable growth. An increasing number of jurisdictions have adopted laws and regulations, established authorities, secured membership to regional antitrust regimes and ramped-up enforcement of suspected violations of prevailing competition […]

Greenpeace is calling on West African governments to immediately phase out the wasteful fishmeal and fish oil (FMFO) industry, to stop the threat to regional fish stocks

The report, entitled A waste of fish: Food security under threat from the fishmeal and fish oil industry in West Africa, raises strong concerns about the expanding FMFO industry in Mauritania, Senegal and The Gambia. All three species of fish used for FMFO are essential for food security, and already overexploited.[1] “We’re losing hundreds of thousands […]

The African Continental Free Trade Area Agreement comes into force

African Business News

The  African Continental Free Trade Area agreement (AfCFTA) came  into force on 30 May 2019. In April 2019, Gambia ratified the agreement, bringing the total number of African Union (AU) member state ratifications to 22,  the minimum threshold for AfCFTA’s implementation. In the last month, the required number of endorsements was received by the AU and […]

European backing for EUR 142 million Gambia renewable energy programme

European Investment Bank

First European Investment Bank engagement in Gambia since 1991 First country in the world to ensure all its 1,100 rural schools and health centres will benefit from reliable energy supply using solar and battery technology; 20MW solar energy and 400km distribution project to transform energy access and cut costs; first European Investment Bank engagement in […]

Gambia’s economic recovery is gaining traction

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion. Debt vulnerabilities remain […]

Anglophone West Africa’s brightening economic prospects

Nigeria, Africa’s largest economy, is at last moving out of recession, Ghana’s growth continues to be strong The economic forecast for Anglophone West Africa is looking brighter according to analysis by Ecobank’s (www.Ecobank.com) research team in the newly published Anglophone West Africa section of its flagship financial website, AfricaFICC(goo.gl/CduKLQ). Nigeria, Africa’s largest economy, is at last […]

New ITFC Agreement of US$210 Million for key sectors to support economic growth and job creation in The Gambia

The agreement is to support key economic sectors, including energy, through the importation of refined petroleum products, and agriculture The International Islamic Trade Finance Corporation (ITFC) (ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signs a US$210 million Framework Agreement with Government of The Gambia for financing over a  3 year period. The […]

The United Nations Convention on Transparency in Treaty-based Investor-State Arbitration enters into force today

 The United Nations Convention in Transparency in Treaty-based Investor-State Arbitration (“The Mauritius Convention on Transparency”) will enter into force today, 18 October 2017. The Convention has to date been ratified by Canada, Mauritius and Switzerland. None of the ratifying States made reservations and, as a result, the Transparency Rules are now part of the investor-State […]

ITFC Fuels The Gambia’s Energy Sector with a US$ 45 Million Financing

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signed a US$ 45 million Murabaha Financing Agreement with the government of The Gambia. H.E Mr. Amadou Sanneh, Minister of Finance and Economic Affairs of The Gambia (Governor of the Islamic Development Bank), and Eng. Hani Salem Sonbol, […]

IMF Staff Concludes Visit to The Gambia

With the transition to a new, democratically-elected government, The Gambia is at a historical turning point The mission assessed the impact of exogenous shocks that have hit the Gambian economy recently and initiated discussions on providing IMF support through a Rapid Credit Facility (RCF) Economic growth in 2016 is now estimated to have reached only […]

African migrants reportedly being sold in ‘slave markets’ in Libya, UN agency warns

The International Organization for Migration (IOM) is sounding the alarm today after its staff in Niger and Libya documented over the past weekend shocking testimonies of trafficking victims from several African nations, including Nigeria, Ghana and the Gambia Hundreds of migrants along North African migrant routes are being bought and sold openly in modern day […]

Analyses and recommendations for the structural transformation of West African countries

Among the 21 reports presented, four are from West Africa: Cabo Verde, the Gambia, Ghana and Nigeria The Economic Commission for Africa proceeded with the launching of the second generation of ECA Country Profiles on March 25 in Dakar. The objective of this initiative is to provide analyses and specific recommendations for Member States in […]

SWIFT’s messaging traffic grows by 15.8% in West Africa

Figures released at the SWIFT Business Forum West Africa show that the region has outperformed the total growth of SWIFT globally Data from SWIFT shows that traffic growth in West Africa has outperformed the total growth of SWIFT globally. In the year to date, total traffic volumes in the West African Monetary Zone (WAMZ)[1] grew […]

REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES)

Revitalisation of the Inter- African Coffee Organisation (IACO): Preparation of the 2017-2022 and Strategy and Institutional Review. Financing Agreement reference: 100000038 Project ID No: P-Z1-A00 017 The Inter African Coffee Organisation (IACO)[1] has received financing from the African Development Bank under The Nigerian Technical Cooperation Fund toward the cost of the study for Revitalization of […]

African Ministers of Energy to discuss opportunities for power sector investment this June

Over 130 speakers to date have confirmed to attend the 18th annual Africa Energy Forum (AEF) (Africa-Energy-Forum.com), taking place in London this year from 22-24th June. Widely considered the meeting place for Africa’s power sector professionals to discuss opportunities for investment into the power sector, 56% of the African continent was represented at the Forum […]

Corruption on the rise in Africa poll as governments seen failing to stop it

Transparency International estimates 75 million Africans paid a bribe in the past year A majority of Africans say corruption has risen in the past 12 months and most governments are seen as failing in their duty to stop the abuse of power, bribery and secret deals, according to a new opinion poll from Transparency International […]

INTERPOL operations target illegal timber trade in Africa and the Americas

INTERPOL-coordinated illegal logging operations in West Africa and Central and South America have identified key trade routes used by criminal networks to traffic illicitly harvested timber and led to major seizures of protected and valuable timber species worth more than USD 262 million. Operation Log took place in nine West African countries – Benin, Burkina Faso, […]

Dangote Group’s Joseph Makoju, Akon Lighting Africa and the AfDB big winners at West African Power Industry Awards in Lagos

200 top power professionals gathered for 2nd edition of coveted awards Joseph Makoju, Honorary Advisor for the Dangote Group, was honoured with the  Lifetime Achievement Regional Award during the sold-out gala dinner at the West African Power Industry Awards in Lagos on Tuesday evening. Akon Lighting Africa scored a double nod of approval from the […]

Illicit Financial Flows: Significant Impediment to Achieving Sustainable Development Goal #6 — Ensuring Healthy Lives

Analysis of illicit financial flows (IFFs) in the poorest nations shows that from 2008 – 2012 IFFs swamped national health spending in many countries.  The IFF/Health Spending ratios provided below give an indication of the challenge some countries will face in achieving Sustainable Development Goals #6. GFI President Raymond Baker said that the UN commitment […]

IMF Executive Board Concludes 2015 Article IV Consultation with The Gambia

On September, 18, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation(1) with The Gambia. The Gambia has experienced large balance of payments and fiscal imbalances, caused by persistent policy slippages in recent years and financial difficulties in public enterprises. This was exacerbated by sizable exogenous shocks from the […]

Illicit Financial Flows: Major Hurdle to Achieving Sustainable Development Goal #4 — Ensuring Quality Education

Analysis of illicit financial flows (IFFs) in the poorest nations shows that from 2008-2012 IFFs swamped national education spending in many countries. The IFF/Education Spending ratios (see below) give an indication of the problem some countries will face in achieving Sustainable Development Goals #4. GFI President Raymond Baker said that the UN commitment to “substantially reduce” IFFs in target […]

Retail potential on African continent confirmed

– AT Kearney’s 2nd African Retail Development Index reconfirmed the continent’s retail potential – Gabon (#1), Botswana (#2) and Angola (#3) in particular provide retailers with diverse options for retail expansion – Nigeria drops from #2 to #4 it is still a market to consider, while Tanzania leads the pack in East Africa JOHANNESBURG, South-Africa, […]