The Gambia Chamber of Commerce and Industry (GCCI), on Thursday, 12 December 2024, hosted a business forum as part of their efforts to empower and educate their members by focusing on their growth, challenges, and accomplishments in various sectors.
The forum served as an opportunity for the Chamber to reflect, take stock, and review the status, achievements, and challenges faced by their members in key sectors such as agriculture, banking and finance, and real estate.
Theresa Jarra, the director of operations at GCCI said the membership forum was an honour to meet their dedicated members from various sectors such as agriculture, banking and finance, and real estate which is vital to 'our' nation's growth.
While underscoring the importance of agriculture as the backbone of the Gambia's economy, Ms. Jarra said banking and finance fuel up businesses, emphasizing that real estate is a cornerstone for development and investment.
Ms. Jarra said each of these sectors plays an irreplaceable role in driving the Gambia's progress, adding that their commitment to these industries is an inspiration to all. She further explained that access to finance, regulatory hurdles, infrastructure, or market access plays a huge role for these industries to grow and thrive. "We know that these challenges affect your ability to grow and thrive. Be rest assured that GCCI is not only aware of these challenges but we are committed to addressing them head-on throughout our advocacy efforts in 2025," Ms Jarra promised.
Speaking at the forum, Saul Frazer, CEO and Managing Director of Global Properties gave a presentation on what is happening in the Real Estate sector.
"The industry is actually the fastest growing industry at the moment," Mr. Frazer indicated; despite being the fastest growing, the industry has its challenges one of which is the non-regulatory aspect of the real estate sector.
Mr. Frazer therefore emphasized the regulatory aspect and urged the relevant authorities to take charge.
"One of the major challenges is having a lease document and not being able to access your land. Sometimes you have resistance from local communities which for me is wrong and when the state gives you a lease, it means that the property is yours," he said.
Mustapha John, President of Gam United Breeders Association said agriculture plays a vital role in the country's economy because it contributes significantly to employment, food security, and export earnings.
Mr. John said the sector contributes or supports over 60% of households in the country and plays a key role in poverty reduction, adding that it is the backbone of rural livelihoods with women forming a substantial portion of the workforce, particularly in subsistence farming and horticulture.
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Explaining the importance of agricultural, Mr. John said the sector contributes 25% to the Gambia's overall GDP and employs 75% of the workforce. Mr. John also hinted at challenges that the sector faces such as limited mechanization, lack of access to modern farming equipment, inadequate infrastructure, poor storage facilities, and market access to name a few.
Other speakers included Ebrima Sanyang from Supersonicz who represented the Banking and Finance Sector, and Kara Jagne, Co-Founder of Gisqo who presented on their status, achievements, and the challenges they faced.
