The platform under the project – ‘Boosting post-COVID-19 economic recovery and resilience in The Gambia’ was launched at Bakadaji Hotel.
At the launch, Mrs Sarata Conteh, Chief Executive Officer (CEO) of GCCI, revealed that the project aligns perfectly with the National Employment Policy and Action Plan, 2022-2026, which sets forth an ambitious agenda of creating more jobs through the Business Formalization Platform.
“We take a significant step towards realising this vision, a Gambia where every citizen can have a decent living and pursue their dreams. Formalising businesses is not just a legal requirement, it is a catalyst for economic growth, job creation, and empowerment.” she noted.
She acknowledged the role of the private sector in any socio-economic development, saying the latter is the driving force behind economic development.
"It is through the growth and success of our businesses that we create employment, improve livelihoods, and foster prosperity for all. The Business Formalisation Platform stands as another evidence to our commitment to supporting entrepreneurs on their journey towards success.”
Mrs Conateh reminded that the platform goes beyond being a mere guide. Rather, it embodies the spirit of inclusivity and empowerment, by offering assessments and self-assessment tools.
“We enable entrepreneurs and businesses to monitor their progress, identify areas for improvement, and make informed decisions. It is through this accountability that we can drive sustainable growth and ensure the long-term success of our enterprises.”
For his part, Babucarr Ismaila Joof, minister of Trade, Industry, Regional Integration and Employment, recalled that the last MSME mapping survey conducted in 2018 revealed that majority of the operators in this sector are mainly microenterprises of which more than 90% remains in the informal sector.
"Therefore, formalising the sector would contribute immensely to government revenue as well as GDP growth.”
Minister Joof noted that the sector exhibits the main source of economic resilience as the sector remains important for their economy.
