Gambian service businesses are set to be receiving incentives from The Gambia’s government to help them thrive and create jobs, its new President Adama Barrow said.
The announcement came after the European Union pumped a little over €25 million into the country to help curb the migration of youths to Europe by creating opportunities.
The Gambia has the third largest number of arrivals by sea to Europe.
The West African nation’s service sector has taken over agriculture has its biggest employer and contributor to the GDP. At least 55% of Gambians that are employed now work in the service sector, says Dr. Isatou Touray, Minister for Trade, Industries and Employment.
The new administration believes that the incentives announced by Mr. Barrow are necessary for them to contribute more to employment creation and the GDP of the country.
“Macroeconomic stability will provide a fertile ground for telecommunication services, banks, hotels, insurance, housing companies and other sectors to grow and develop partnerships in Africa and all over the globe,” according to President Barrow.
Although agriculture now employs only about 35% of the workforce, the administration has pledged added support to move towards food security and growth in export.
Agriculture Minister Omar Jallow signed a US$6 million project with the UN Food and Agriculture Organization seeking to boost the production and processing of crops, livestock and fisheries.
Gambia’s government says it will invest heavily in the fishing industry to create jobs for youths through the unexplored area to “increase in income through agro-industrial development.”