Gambia Country Summary

FATF Status

The Gambia is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Gambia was undertaken in 2022. According to that Evaluation, the Gambia was deemed Compliant for 4 and Largely Compliant for 15 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Gambia faces significant challenges related to crime and corruption, with persistent issues such as bribery, embezzlement, and nepotism undermining public trust in institutions and governance. Despite the recent passage of the Anti-Corruption Act, which aims to enhance the fight against corruption, implementation delays and unfilled leadership positions within the new Anti-Corruption Commission hinder progress in addressing these issues effectively.

The country also grapples with various criminal activities, including human trafficking, drug trafficking, and illegal logging, exacerbated by the involvement of organized crime networks and state-embedded actors. While there have been improvements in civil society advocacy and support for victims, the overall resilience to crime remains limited due to ongoing corruption, inadequate enforcement of laws, and challenges within the criminal justice system.

The Gambia, with a population of approximately 2.8 million and a GDP of $2.77 billion, presents a unique investment climate characterized by both opportunities and challenges. While the government actively promotes foreign direct investment (FDI) and offers incentives through the Gambia Investment and Export Promotion Agency (GIEPA), issues such as rampant corruption, bureaucratic inefficiencies, and recent policy changes that undermine procurement oversight pose significant risks for investors. Despite these challenges, sectors like tourism, agriculture, and infrastructure show potential for growth, supported by ongoing efforts to enhance regulatory frameworks and streamline business processes, although high poverty rates and a significant skills gap continue to hinder economic progress.