Charting a Feasible Course for The Gambia Diaspora Investment Strategy

Remittances to the Gambia have been steadily increasing. In 2021, The Gambia received US$777 million in remittances (63 per cent of its GDP). In 2014 the Gambia was the 10th highest remittance receiving country in the world and the 3rd highest in Africa. Recognizing the important role the diaspora plays in The Gambia, in recent years the Government has put in place several initiatives aimed at enhancing diaspora engagement and investment including the Migration and Sustainable Development in The Gambia (MSDG) project, which is now in phase 2; as well as the formation of a Diaspora directorate.

Considering the challenges faced when translating diaspora savings into investments, the Commonwealth Diaspora Finance project is aimed at encouraging diasporas to invest in their family’s country of origin. This includes providing technical assistance to countries to identify the best tools and strategies to help them increase diaspora investment. This report, therefore, is aimed at assessing the current Gambian diaspora policy framework and environment to suggest strategies that can be implemented in the short, medium, and long term to enhance or spur Gambian diaspora investment. This report is based on a combination of desktop research and key stakeholder interviews conducted between 16 and 22 March 2022.