Let us begin by agreeing that every shift presents an opportunity, but only the most foresighted and astute businesspeople will see it as such. The European Union promised to provide €75 million in funds right away and €150 million over a longer period to “ensure that Gambia can deliver as it should. Additionally included in this grant is the Gambia Youth Empowerment Project.
If you want to increase your chances of starting a successful business in the new Gambia, these opportunities may help you realize your dream. The investment opportunities in this article have helped some of the successful entrepreneurs in the Gambia.
Let’s meet these opportunities.
The Gambia’s entertainment industry is rapidly expanding
Recently, producers from the sub-region, mainly Nigerian and Ghanaian ones, have been more and more interested in making movies in the Gambia. To capitalize on the worldwide market, non-Gambian producers, directors, and actors/actresses from Nigeria produce the majority of the films shot in the nation.
Young Gambian businesspeople and investors ought to learn from these investment prospects and integrate them into the entertainment industry’s value chain. You’ll be astonished to learn that some Gambians are successful in this field.
The Gambia still offers investment opportunities in the film industry despite weaknesses in the value chains of production and distribution. Thousands of Gambian people and anyone who likes their culture can use it. Keep in mind that other forms of entertainment, such as comedy, music, and general entertainment, are also flourishing in Africa. You may use this industry to launch a business in the Gambia.
Agriculture
Agribusiness employs around 75% of the workforce in the Gambia, yet it only contributes to less than 20% of the country’s GDP (2013). Agriculture is now an investment option in The Gambia. The nation imports raw and semi-processed agricultural products, beginning with rice, cereals, milk, and other dairy commodities. Local food product producers could benefit greatly from the nation’s agriculture investment potential.
For any potential investment, there are numerous agribusiness options with farm inputs, production, value addition, distribution, and trading.
Over 80% of milk and milk products are currently imported into the Gambia, while in 2015, rice and sugar made up about 18% of all imports. It is anticipated that highly committed entrepreneurs would succeed in this sector in the next years.
Retail and consumer market
The Gambia’s young market presents yet another chance to cater to the retail industry, with more than 50% of the country’s population falling between the ages of 15 and 55. The majority of retail stores only sell groceries, housewares, and electrical appliances, with inadequate parking for patrons. Except for Julabaa, the majority of Gambia’s retail establishments don’t have websites where they can sell their stock.
Gambians will unquestionably visit any mall or shopping center that has grocery stores, pharmacies, restaurants, play areas, and even the newest movies in theaters.
Internet and technology in the Gambia
Without a doubt, the Gambia has registered many successful entrepreneurs in the technology sector, and the business is still expanding although slowly. There are numerous internet technology investment opportunities worldwide because we live in a technologically advanced environment.
To ensure that Gambians may make use of the long-awaited services, investors and entrepreneurs should be ready to make technology investments. To address various social concerns, there is a need for additional financiers, developers, and thinkers. In addition, if the government’s policy priorities are positive, technology may be able to give many young people jobs.
Television and radio services
The state-owned Gambia Radio and Television Services is the only television station in the country (GRTS). In addition to local languages, it aired a variety of programming. The diversified leisure and educational needs of the young population, however, are hardly ever met by the national TV station. Young people need television networks that feature sports, independent experts debating the effects of new government regulations, celebrity trends, and other topics. Potential investors and entrepreneurs should think of a private TV station that will focus on promoting Gambian fashion, movies, etc.
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