Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
Despite its small market size, many sectors still present market opportunities for prospective investors. The National Development Plan (NDP) (2018-2021) lays out a blueprint to stablize the economy and stimulate medium term growth. NDP Link
In the energy sector, potential investment opportunities in electricity generation are substantial, given projected growth in demand. National demand is expected to reach 200 MW by 2025. The Gambian government has introduced a temporary measure to provide 35 megawatts (MW) via a Turkish powership that is docked at Banjul. Supply side constraints have created a high demand for quality generators and energy storage equipment such as inverters and renewable energy devices. Once the present gaps in transmission lines are addressed, investment opportunities in electricity generation will be significant, particularly in solar and wind energy. Biofuels also present another investment opportunity for energy sector investors.
Key commercial opportunities in the agricultural sector include farming equipment, expanded irrigation systems, post-harvest handling systems, storage facilities. Currently, the sector is highly seasonal but could be year-round with expanded irrigation capacity. Demand for efficient post-harvest storage is increasing, given, among other things, a shift towards perishable horticultural produce. As the Gambia becomes increasingly urban, there is a growing demand for processed food. Imported U.S. rice is already widely consumed, and the market for other food items such as processed dairy produce, other cereals, and animal produce continues to expand.
Construction in The Gambia has flourished since the change of government. While most of the manufactured products are sourced from China and India, an increasing demand for quality materials and equipment provide market opportunities for countries producing better quality materials. The outsized diaspora community has shown an eagerness to come back to The Gambia and invest following Jammeh’s departure. A growing niche tourist industry has generated much hotel and tourism driven construction. With the upcoming Organization of Islamic Cooperation (OIC) Summit planned to take place in The Gambia in 2022, the construction industry is expected to grow further. The Gambian government aims to construct new roads and hotels before the OIC summit.
Major infrastructure projects include:
1. The development The Banjul Rehabilitation project, which is a $35 million project to rehabilitate 37 km of a network of roads, drainages and the sewage system in Banjul.
2. Banjul ports project, which would help The Gambia meet present and future traffic demand at the congested port of Banjul through rehabilitation and expansion of port infrastructure, and by provision of training to strengthen the Ports Authority.
3. $50 Million Road Construction Projects for the construction of 50km roads, totaling to 20 roads within the Kanifing Municipality and West Coast Region