Across the country, new investments are emerging in banking, telecommunications, construction, energy, trade, and tourism. These developments are welcome and necessary for national progress. However, a closer look reveals that a significant portion of these sectors remain dominated by foreign capital, while many Gambians participate primarily as consumers, employees, or stakeholders rather than as owners and shareholders.
Mr President, a strong nation must ensure that its citizens are not merely spectators in the economy but active participants in wealth creation.
This is why the time has come for The Gambia to introduce a National Local Content Policy and Law.
Local content simply means ensuring that Gambians benefit meaningfully from economic activities taking place within their own country. It promotes employment opportunities for citizens, participation of local businesses in supply chains, technology transfer, and ownership stakes in strategic sectors of the economy.
Mr President, many countries across Africa have already embraced this approach. Nigeria and Ghana have implemented Local Content Laws that ensure their citizens participate in industries such as petroleum, mining, construction, and services. These policies have helped create strong domestic companies and skilled national workforces.
The Gambia should pursue a similar path, adapted to our national realities. Encouragingly, important foundations have already been laid. The Central Bank of The Gambia’s policy requiring commercial banks to float 20–25 percent of their shares for Gambians is an excellent example of how citizens can transition from being mere stakeholders to becoming shareholders in the national economy. This forward-looking policy will also support the growth and sustainability of the Gambia Stock Exchange.But more can be done.
Mr President, a National Local Content Law would ensure that in sectors such as construction, energy, telecommunications, agriculture, tourism, and infrastructure development, Gambian businesses are given fair opportunities to participate as contractors, suppliers, investors, and partners.
Such a policy would not discourage foreign investment. On the contrary, it would encourage partnerships between international investors and Gambian enterprises, leading to stronger local capacity, job creation, and technology transfer.
It would also help nurture a new generation of Gambian entrepreneurs and industrialists, capable of building companies that contribute to national prosperity and compete across the African Continental Free Trade Area (AfCFTA).
Ultimately, the strength of an economy lies not only in how much investment it attracts, but in how widely the benefits of that investment are shared among its citizens.
A Local Content Policy would therefore represent a strategic step toward economic sovereignty, inclusive growth, and sustainable development.
Mr President, history shows that transformative leaders leave their mark not only through infrastructure and institutions, but through policies that empower their people.
A National Local Content Law for The Gambia would be one such legacy - ensuring that the wealth generated in our economy increasingly belongs to the people of The Gambia themselves.
Good day!