The Central Bank of The Gambia (CBG) has mandated local commercial banks to replace foreign staff with Gambian nationals by December 31, following a circular issued on September 16. This directive, signed by Second Deputy Governor Paul Mendy, follows an August 27 meeting with bank executives addressing concerns over the employment of foreign workers in the sector.
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A recent study by the CBG highlighted that a significant number of non-Gambians were employed in banks alongside recognized expatriate staff, which contravenes the Labour Act 2023 and CBG's guidelines on foreign employment. Banks are now required to adopt a phased approach to transitioning foreign employees out and bringing in suitably qualified Gambians.
In the circular, Mendy emphasized the importance of ensuring compliance with both the law and the CBG’s guidelines. He stated that banks must also facilitate skills transfer and continuity of operations during this transition.
The order affects various commercial banks operating in The Gambia, including Access Bank Gambia, First Bank Gambia, Guaranty Trust Bank Gambia, Zenith Bank Gambia, Ecobank Gambia, Bloom Bank Africa, Vista Bank, Trust Bank, BSIC, AGIB, and Mega Bank.
Banks will need to assess positions held by non-Gambian staff, identify qualified local replacements, and ensure a smooth transition by the end of the year. The skills transfer requirement means these banks must also manage the handover of responsibilities effectively to avoid disrupting operations.
This directive comes as The Gambia experiences increased pressure to create formal employment opportunities. The Gambia Bureau of Statistics reported an unemployment rate of 8.3% in 2025, rising from 7.6% in 2022/23. The labor market challenges are compounded by the fact that about 81% of employed individuals work in the informal economy, with labor underutilization at 26.7%.
Employment difficulties are particularly pronounced among the youth, with 41.3% of people aged 15 to 35 not engaged in employment, education, or training in 2025.
The Gambia's approach aligns with similar regulations in other African nations regarding expatriate hiring. For instance, Ghana implements an expatriate quota system that allocates foreign-worker positions based on investment levels. Kenya requires employers to prove the unavailability of local skills when seeking work permits for foreign professionals and may mandate the identification of local understudies for skills transfer. Nigeria also has an expatriate quota system that mandates justification for positions held by foreign workers while promoting local employment.