Dear editor,
The diaspora community of The Gambia has been an economic pillar of The Gambia. The community is responsible for remittances of families amounting to millions of dollars on a yearly basis. But these funds are wasted just providing for families’ needs. The possibilities of such funds reach higher levels than simply providing individual support. If well harnessed, the diaspora funds are capable of transforming the economy and infrastructural deficit and expansion, more so addressing the levels of unemployment, poverty and infrastructural deficit in the country. In order to tap such a potential, it requires proper engagement of investment — the Gambian government, private sectors, international organizations, and the diaspora together in one concerted effort.
Gambians in diaspora have continued to remit and help boost Gambia’s GDP in the recent years. Reports show that remittances have come to contribute 20% in total from the GDP for The Gambia where the majority of the funds are used for procuring household food items, requisite education and healthcare services. There is no doubt that these contributions are important, but they do not promote development in the long run. With more constructive investments in entrepreneurship, infrastructures, and technological advancements, the diaspora remittance people can now.
Diaspora-led investments in sectors like agriculture, renewable energy, and manufacturing could help build a more resilient economy. For instance, agribusiness ventures could not only strengthen food security but also create employment opportunities in rural areas. Similarly, investments in renewable energy infrastructure, such as solar power, would address energy deficits that have hindered business growth and job creation for years. These types of investments allow the diaspora to contribute to the country’s economic development while achieving returns on investment, creating a mutually beneficial model.
To maximize impact, diaspora investments must be part of a broader, holistic strategy that supports long-term growth. A holistic approach considers various aspects, from improving investment frameworks to developing skills and capacity in local communities. For instance, the Gambian government could introduce policies that ease investment barriers, reduce bureaucratic red tape, and create tax incentives for diaspora investors. Streamlining the investment process would encourage more diaspora members to take an active role in national development.
Furthermore, training and capacity-building programs are essential to ensure the success of such investments. Diaspora investors should collaborate with local organizations and businesses to share knowledge, skills, and expertise. Developing human capital in The Gambia through such initiatives would make the labour force more competitive and capable of supporting a variety of industries. With a skilled workforce, The Gambia could attract even more investment in sectors beyond the traditional focus, such as information technology and tourism, creating a diversified and resilient economy.
The Gambia faces a high unemployment rate, particularly among its youth. This challenge could be mitigated by channeling diaspora investments into job-creating sectors. The private sector, bolstered by diaspora contributions, could play a critical role in addressing this issue. For example, investments in small and medium enterprises (SMEs) could create immediate job opportunities for young people, while also building an entrepreneurial culture that fosters further job creation. Empowering SMEs and entrepreneurs would enable the country to produce more goods locally, reducing dependence on imports and strengthening the domestic market.
The time is ripe for the Gambian diaspora to play a more active and strategic role in national development. While individual remittances remain important, shifting towards investments that target growth sectors like infrastructure, education, and technology will drive sustainable progress. The government and diaspora communities must work together to create the conditions necessary for impactful investments, including favourable policies and infrastructure improvements.
Bakary J Janneh
