Gambia Orders Banks to Replace Foreign Staff
The Gambia's Central Bank has ordered all 11 licensed commercial banks to replace foreign staff with Gambian nationals by 31 December 2026. The directive applies to banks of all ownership, including four Nigerian-owned banks. The move aims to enforce the Labour Act 2023 and Guideline 9, which regulate foreign managers in banks.
Neutral
The Central Bank of The Gambia issued the directive following an industry study that found a high number of non-Gambian staff employed in banks. The regulator has given banks three months to complete the transition. The order covers all licensed banks, regardless of ownership.
Positive
The move aims to promote Gambian nationals in the banking sector and enforce local labour laws. It may also create opportunities for Gambian professionals to develop their skills and take on leadership roles. The transition is expected to be completed by the end of the year.
Negative
The directive has drawn criticism from Nigerian critics, who argue that it unfairly targets foreign-owned banks. The order may disrupt services to customers if not implemented carefully. The number of foreign bank staff involved and the industry study that triggered the order remain unclear.
- The Gambia's Central Bank ordered all 11 licensed commercial banks to replace foreign staff with Gambian nationals by 31 December 2026.
- The directive applies to banks of all ownership, including four Nigerian-owned banks.
- The move aims to enforce the Labour Act 2023 and Guideline 9, which regulate foreign managers in banks.
- The Rio TimesGambia Orders All Banks to Swap Foreign Staff for Gambians by 31 December
- BBCBolivia v Gambia
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