A major component in Gambia's vision to become an export-oriented agricultural country by 2020 is the development of a robust agri-processing sector. The government has put in place an attractive incentive package to attract private investment to the sector.
Agriculture is the mainstay of Gambia’s economy, contributing an estimated 32% to the GDP. The sector offers great potential for processing crops that can be grown on 558,000 hectares of arable land. There is also great potential for irrigated agriculture.
Lucrative Investment opportunities exist in the following areas:
Supply of animal feed: There is an acute need for poultry and fish feeds.
Supply of agro-pharmaceuticals: Veterinary drugs for the animal industry
are needed.
Supply of pesticides and fertilizer: There is huge demand for fertilizer to satisfy the need for over 20,000 metric tonnes. Potential investors are also welcome to manufacture organic fertilizers from the large quantity of free plant waste available throughout the year.
Establishing vegetable and fruit processing plants: This will reduce the massive waste as well as reduce the cost of importing processed foods.
Grain processing and packing: Potential exists for the establishment of plants to manufacture threshing and milling machines.
Abattoirs: Investing in modern abattoirs could enhance current exports as well as exploit the vast livestock resources in the country.
Agricultural machinery: Opportunities exist in the supply of agricultural machinery for land preparation (tractors, seeders, harrows, etc), irrigation (solar panels, pumps and
piping), post harvest machinery (harvesters, threshers and milling machines), storage and packing materials (cold storage, grain silos, poultry and meat packing materials, grain and flour packing materials)
Incentives: Gambia offers attractive incentive packages to investors contained in the Gambia Investment Promotion Act 2001 and the Free Zones Act 2001. The incentives include exemptions from import duties and tax holidays. Potential investors can also negotiate for further incentives with the Gambia Investment Promotion & Free Zones Agency (GIPFZA), depending on the nature of the investment.
Agriculture is among the priority sectors with specific incentives which can be obtained from the GIPFZA.
Why The Gambia is an attractive investment destination
- No exchange controls
- Free repatriation of capital and profits
- Stable
exchange rate
- Efficient customs clearance, modern seaport and airport
- Affordable and educated labour in the agriculture sector
- Major re-exporting economy
- Duty free access to EU and USA (AGOA)
For more information on agriculture opportunities contact the GIPFZA:
Fatou M Jallow, director, Investment Promotion and Marketing Department.
fmjallow@gipfza.gm
www.gipfza.gm
