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Investments Guarantees in Gambia

Investments Guarantees in Gambia

Foreign exchange availability

The Gambia provides a very attractive environment to investors with regard to foreign exchange. However, in order to assuage any possible concerns by large scale investors, financial and monetary policies are in place that provides adequate guarantees for availability of foreign exchange in the market to enable them:

  • To transfer after-tax profits to shareholders resident outside the Gambia in the form of dividends or in the case of companies incorporated abroad and carrying on branch operations, to make remittances to head office out of funds representing after-tax profits
  • In the case of loans for which foreign exchange availability has been guaranteed by the Central Bank, to repay the principal sum due and to pay interest and service charges on such loans as they fall due
  • To pay license fees and royalties due persons resident outside the Gambia
  • Where there has been a sale of the investment to a resident of the Gambia or a reduction of the share capital, to repatriate the proceeds.

Security of Title

Government assures any investor in the security of title and guarantees that the investment will not be expropriated. It is not in the interest of the Gambia to expropriate private sector business, whether domestic or foreign. In the unlikely event of expropriation, the Gambian Constitution provides that such a measure will be subject to stringent conditions as to the justification, procedures and compensation for the expropriation. Article 22 (1) of the Constitution stipulates as follows:

No property of any description shall be taken possession of compulsorily, and no right over or interest in any such property shall be acquired compulsorily in any part of The Gambia, except where the following conditions are satisfied:

  • The taking possession or acquisition is necessary in the interest of defence, public safety, public order, public morality, public health, town and country planning, or the development or utilization of any property in such manner as to promote the public benefit
  • The necessity therefore is sculpt as to afford reasonable justification of the causing of any hardship that may result to ‘ally person having any interest in or right over the property
  • Provision is made by law applicable to that taking of possession or acquisition
  • For the prompt payment of adequate compensation

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John Muhaise-Bikalemesa (JMB), is the founder of blog and company. Learn more about him here and connect with him on his social medias below

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