AGP Executive Report

Banking & Investment Strategy: Access Holdings says it has finished its major acquisition phase and now wants to be judged on profitability and shareholder value, aiming to benchmark itself against Africa’s biggest bank, Standard Bank. Capital Markets & SME Finance: With IPOs cooling in Nigeria, corporates are leaning into Commercial Papers, while LCCI and NASD push SMEs to use capital market funding by improving governance, audited accounts, and transparency. Food & Industry Development: The Gambia’s first Food and Drug Testing Laboratory was launched, as CGI and partners back stronger food safety and trade readiness. Construction Materials Supply: GAMGO and GAGO report successful basalt shipments from Cape Verde to support infrastructure works and reduce material shortages. Local Ownership Push: CBG Governor Buah Saidy warns that rising foreign ownership of businesses and properties could drain wealth from the country, urging Gambians to invest more at home. Agriculture & Training Links: Indonesia and The Gambia highlight renewed plans to upgrade the Jenoi Agricultural Rural Farmers Training Centre to boost skills in farming, innovation, and food security. Energy & Resources: The government signs an offshore Block A1 exploration deal with Eni, renewing attention on Gambia’s oil and gas prospects.

Regional Minerals & Industry Push: ECOWAS ministers back “mine together, process together,” urging factories, shared standards, and better transport/storage to turn raw minerals into jobs and boost AfCFTA trade. Gambia’s Infrastructure Materials: GAMGO and GAGO report successful imports of high-grade basalt from Cape Verde to ease construction material shortages and support road and commercial projects. Local Ownership & Investment: CBG governor Buah Saidy warns that more businesses and properties are shifting to foreign owners, urging Gambians to invest and build homegrown enterprise. Energy Affordability: The World Bank’s Public Finance Review says electricity tariffs average about $0.21/kWh, among the highest globally, driven by weak sector finances and inefficient subsidies. Food & Trade Safety: Gambia’s SPS push continues with a national sanitary and phytosanitary committee aimed at improving trade and food safety. Agriculture Skills Link: Indonesia and The Gambia highlight renewed plans to upgrade the Jenoi Agricultural Rural Farmers Training Centre for wider West African capacity building. Luxury Handbags Made in Gambia: One year on, Jarga says it’s growing a luxury handbag industry through local craftsmanship and direct export. Oil Exploration Deal: Government signs Eni’s offshore Block A1 licence agreement, with GNPC taking a 10% carried interest.

Energy & Infrastructure: GAMGO and GAGO report major basalt shipments from Cape Verde, aiming to ease construction material shortages and support road and commercial projects. Oil & Gas: The Gambia signs an offshore Block A1 exploration deal with Eni, with GNPC holding a 10% carried interest, reigniting debate on whether this will deliver real drilling momentum. Public Finance & Power Costs: The World Bank’s Public Finance Review flags weak revenue, high debt, and electricity tariffs averaging about $0.21/kWh, stressing affordability and subsidy inefficiencies. Local Industry & Jobs: One year on, Jarga highlights how local luxury handbag production is moving from import dependence to direct design, manufacture, and export. Governance & Institutions: A commentary argues court administration needs professional support beyond the Chief Justice’s overloaded role, while another piece calls for self-reliance in producing national IDs and passports locally. Trade & Food Safety: Government launches a national sanitary and phytosanitary committee to strengthen food safety and trade readiness. SME Finance (Region): LCCI and NASD push SMEs toward capital market funding, urging better governance and audited reporting. Migration (Context): Pope Leo XIV renews calls for safe, legal routes and dignity for migrants—an ongoing backdrop to West Africa-Europe movement pressures.

Jobs & Gender Gap: A new push on “Learning Without Earning” flags Gambia’s informal-sector trap (81% of workers), youth joblessness (41.3% ages 15–34 not in work/education/training), and a widening gender divide in labour participation (41.9% women vs 54.9% men), with women also facing heavier care burdens and weaker access to land and finance. Public Finance & Power Costs: The World Bank’s Gambia Public Finance Review warns electricity tariffs average about $0.21/kWh and remain among the highest globally due to weak sector performance, system losses, and inefficient subsidies—while a separate budget update says the 2026 first-quarter deficit fell 67% as revenue reached D7.68bn and tax collection strengthened. Energy & Oil: Government signed an offshore Block A1 PEPLA with Eni Gambia Ltd, with GNPC holding a 10% carried interest—sparking renewed debate after past exploration disappointments. Port & Logistics Learning: VP Mbye’s Tianjin visit highlighted smart, automated port operations and “zero carbon” terminal models Gambians could adapt for logistics efficiency. Private Sector & Real Estate: President Barrow hailed Global Properties’ new head office in Kotu as a milestone for housing, infrastructure and jobs. Food Safety for Industry: CGI welcomed the inauguration of Gambia’s first Food and Drug Testing Laboratory, saying local testing will cut costs and speed approvals for manufacturers. Capital Markets (Regional): FMDQ listed Nigerian logistics firm SKLD’s and agro-trader Sunbeth’s commercial papers—another sign of market-based financing interest in supply chains and agriculture. Education Infrastructure: An MP cut sod for classroom blocks in Abekakrom and Prestea Gambia, linking school infrastructure to long-term development.

Food Safety & Trade: The Food Safety and Quality Authority launched a National Sanitary and Phytosanitary (SPS) Committee to coordinate food safety and plant/animal health systems, aiming to strengthen WTO compliance and improve market access for Gambian farmers and processors. Consumer Testing Boost: The Confederation of Gambian Industries welcomed the inauguration of Gambia’s first Food and Drug Testing Laboratory, saying local testing and certification will cut costs and speed up approvals for manufacturers. Energy Affordability: A World Bank Public Finance Review warned that weak electricity sector performance and system losses keep tariffs among the highest globally, averaging $0.21/kWh, hurting affordability and public finances. Offshore Oil Push: Eni signed a Petroleum Exploration, Development and Production Licence Agreement for offshore Block A1, with the government and GNPC set to hold a carried interest as exploration plans restart. SME & Capital Markets (Region): LCCI and NASD held a forum urging SMEs to improve governance and audited reporting to unlock capital market funding. Diaspora Investment: Imam Ceesay urged Gambians abroad to invest in agriculture, tourism, energy and small businesses beyond remittances. Business Growth: President Barrow hailed Global Properties Limited’s new head office in Kotu as a boost for housing, infrastructure and jobs.

Offshore Energy Deal: The Gambia signed a petroleum exploration, development and production licence agreement with Eni for deepwater Block A1, covering about 1,300 sq km, with GNPC holding a 10% carried interest and an option for the state to add 5% after a commercial discovery. Food Safety & Trade: FSQA launched a National Sanitary and Phytosanitary (SPS) Committee to coordinate food safety, plant and animal health systems and support market access under WTO rules. Electricity Affordability: A World Bank Public Finance Review says weak sector performance and system losses keep Gambia electricity tariffs among the highest globally, averaging $0.21/kWh, while access gains are held back by high costs and inefficient subsidies. SME Capital Markets: LCCI and NASD held a forum pushing SMEs toward medium- and long-term financing through the capital market, urging stronger governance and audited accounts. Public Finance Watch: Budget data shows the deficit narrowed 67% in Q1 2026 as revenue reached D7.68bn, driven by stronger tax collection. Tourism Enforcement: The Tourism Board warned and moved against illegal developers in the tourism development area, citing unapproved construction and environmental damage. Gambia Oil Oversight: Authorities rejected a reported off-spec fuel cargo after lab tests, highlighting improved fuel supply checks but also the need for stronger regional information-sharing. Education Infrastructure: Prestea MP Robert Wisdom Cudjoe cut the sod for three classroom blocks with ancillary facilities in Abekakrom and Prestea Gambia.

Energy & Power Sector: The World Bank says The Gambia’s electricity tariffs average about $0.21/kWh, among the highest globally, driven by weak sector finances, system losses and inefficient subsidies, even as access rises from 56% (2017) to 74% (2024). Offshore Oil & Gas: Government signed a Petroleum Exploration, Development and Production Licence Agreement with Eni for deepwater Block A1, with GNPC holding a 10% carried interest and an option to add 5% after discovery—marking Eni’s first entry into Gambia after earlier licence changes involving BP. Food & Consumer Safety: President Barrow inaugurated the country’s first National Food and Drug Quality Control Laboratory (World Bank-funded), aimed at faster local testing, better detection of unsafe products and stronger regulation for medicines, food and cosmetics. Trade & Agriculture Standards: FSQA launched a National Sanitary and Phytosanitary (SPS) Committee to coordinate food safety and plant/animal health systems and support WTO compliance and market access. Public Finance: The budget deficit narrowed 67% in Q1 2026 as revenue reached D7.68bn and tax collection strengthened; government also reported D1.36bn in debt repayments. Water Infrastructure: NAWEC says new water projects (including a Tujereng treatment plant and other schemes) are meant to close the widening supply-demand gap. Tourism Regulation: Gambia Tourism Board warned against illegal tourism-zone construction and fencing, citing environmental damage and poor sanitation. Labour & Migration: Kuwait tightened domestic worker recruitment to a short approved list, while The Gambia reaffirmed migrant workers’ rights after a UN dialogue in Geneva. Education (Local Development): An MP in Prestea cut the sod for classroom blocks, redirecting birthday funds into school infrastructure.

Food & Consumer Safety Boost: President Adama Barrow inaugurated The Gambia’s first National Food and Drug Quality Control Laboratory in Brusubi, a $10m World Bank-funded facility meant to test medicines, food and cosmetics locally to cut delays, curb counterfeit products and strengthen regulation. Industry Support: The Confederation of Gambian Industries welcomed the new labs, saying local testing and certification will reduce costs and speed approvals for manufacturers aiming to meet ECOWAS and international standards. Trade Readiness: The Food Safety and Quality Authority launched a National Sanitary and Phytosanitary (SPS) Committee to coordinate food safety and plant/animal health systems, helping The Gambia meet WTO obligations and improve market access. Energy & Water Pressure: NAWEC said new water projects (including a Tujereng treatment plant) are meant to ease shortages, while separate commentary and governance calls continue over persistent electricity disruptions. Offshore Oil Deal: Eni signed a Petroleum Exploration, Development and Production licence for deepwater Block A1 (1,300 sq km) with the government, marking its first entry into The Gambia and reopening upstream exploration momentum. Maritime Oversight: Gambia Maritime Administration said a Gambian-flagged vessel fired on in the Gulf of Oman was bound for Iraq, not Iran, after authorities rejected an alleged off-spec fuel cargo. Regional Skills for Ports: Nigeria will host a port state control capacity-building workshop for maritime officials from 22 West and Central African countries.

Offshore Energy Deal: Eni has secured a licence to explore Block A1 in Gambian waters under a Petroleum Exploration, Development and Production agreement signed with the government, covering about 1,300 sq km in deepwater (1,250–3,300m), with the state set to take a 10% carried interest via GNPC. Food Safety & Trade: The Food Safety and Quality Authority launched a National Sanitary and Phytosanitary (SPS) Committee to coordinate food safety and agricultural production, support WTO compliance, and strengthen science-based market access. Quality Control for Industry: President Barrow inaugurated The Gambia’s first National Food and Drug Quality Control Laboratory (World Bank-funded, $10m) to test medicines, food and cosmetics locally—cutting delays, improving counterfeit detection, and boosting confidence for manufacturers. Fiscal Update: The budget deficit narrowed 67% in Q1 2026 to GMD195.84m as revenue reached D7.68bn, driven by stronger tax collection. Ports & Maritime: The Gambia Maritime Administration says a Gambian-flagged vessel fired on by the US was bound for Iraq (not Iran), after documented voyage details. Tourism Enforcement: The Tourism Board warned illegal developers in the Tourism Development Area to stop unapproved construction, citing environmental damage and poor sanitation. Energy Oversight: Authorities rejected a fuel cargo after lab tests showed it was unsuitable for the Gambian market, highlighting the need for stronger regional information-sharing. Water & Power Projects: NAWEC says new water treatment projects (including Tujereng) and other schemes are meant to ease shortages as demand outpaces supply. Labour Tensions: GPA management and the Alport Staff Association trade claims over welfare issues, with a high-level meeting scheduled to resolve the dispute.

Offshore Oil Deal: The Gambia has signed a Petroleum Exploration, Development and Production Licence Agreement with Eni for deepwater Block A1, covering about 1,300 sq km in water depths of 1,250–3,300 metres, giving Eni rights to explore after years of stalled activity and operator changes since BP’s exit. Energy Pressure & Public Costs: A policy brief warns the Middle East conflict is driving up fuel and food prices, with fuel subsidies alone reportedly costing over D500 million in two months, while risks to tourism and agriculture are rising. Electricity Crisis Accountability: The Gambia Democratic Congress (GDC) and others are calling for a clear, transparent roadmap to end prolonged power outages, as NAWEC and government face mounting pressure. Tourism Protection: The Tourism Development Area crackdown continues as the Tourism Board warns illegal beachfront developers to stop unapproved construction, citing environmental damage and sanitation concerns. Port Labour Tension: At Alport, GPA management says workers’ sit-down strike is harming national economic activity and urges a return to work ahead of a high-level meeting, while the Alport Staff Association disputes GPA’s welfare claims. Food & Drug Safety Upgrade: President Barrow commissioned the country’s first modern National Food and Drug Quality Control Laboratory, funded by the World Bank, aimed at improving testing, cutting reliance on foreign labs, and strengthening consumer and medicine safety. Industry Boost: The Confederation of Gambian Industries (CGI) welcomed the new laboratories as a boost for local manufacturers’ quality assurance and faster certification. Tourism Growth via Cruise: Oceania Vista made its maiden call at Port of Banjul, bringing 663 tourists and adding momentum to cruise tourism efforts. Regional Maritime Training: Nigeria will host a West and Central Africa port state control workshop for maritime administrations under the Abuja MoU, supporting safer, better-governed regional shipping. Humanitarian Reach: Qatar Red Crescent’s Eid al-Adha campaign reported reaching 247,344 beneficiaries across Qatar and 13 countries including The Gambia.

Offshore Oil Deal: The Gambia has signed a landmark offshore petroleum exploration agreement with Eni for Block A1, giving Eni the licence to explore, develop and produce from the 1,300km² deepwater block, with the state set to take a 10% carried interest via GNPC and an option to add 5% after a commercial discovery. Energy Crisis Pressure: The Gambia Development Corporation (GDC) and other voices are calling for clear answers and a roadmap as the country faces a prolonged electricity crisis, while NAWEC/GDC-linked concerns keep mounting. Tourism Enforcement: The Gambia Tourism Board warns that illegal developers in the Tourism Development Area—especially along beaches—must comply with approvals or face legal action, citing environmental damage and sanitation issues. Industry Boost: CGI welcomed the inauguration of The Gambia’s first Food and Drug Laboratories, saying local testing and certification will cut costs and help manufacturers meet ECOWAS and international standards. Port & Trade Activity: Luxury cruise ship Oceania Vista made its maiden call at Port of Banjul, bringing 663 tourists and signalling growing cruise interest. Maritime Region Training: Nigeria will host a West and Central Africa port state control workshop under the Abuja MoU, aimed at strengthening maritime governance and safety. Humanitarian Reach: Qatar Red Crescent’s Eid al-Adha campaign reached 247,344 beneficiaries including The Gambia across 14 countries.

Offshore Oil Deal: Eni has signed a Petroleum Exploration, Development and Production Licence Agreement with The Gambia for deepwater Block A1 (about 1,300 sq km, water depths up to 3,300 m), marking Eni’s entry and expanding the country’s West Africa exploration portfolio. Energy Shock Watch: The IMF says it is stepping up support for African countries hit by the US-Iran conflict, including The Gambia, where authorities have requested a 20% augmentation of an existing $172m program plus a possible six-month extension. Fuel Cost Relief: The Gambia government cut gasoil by D5 per litre via a D150m subsidy to ease pressure on households, transport and businesses. Power Sector Tension: Nawec debt claims are being debated, with sources putting Nawec’s liabilities to Senelec at about $37m and additional $21m owed to Guinea’s EDG (about $58m total). Halal Trade Push: SMIIC and The Gambia Standards Bureau are running training to strengthen the national halal quality infrastructure, aiming for internationally recognized halal certification and making The Gambia a regional hub. Maritime & Food Security: UN-linked reporting warns Strait of Hormuz disruptions are driving energy and food price shocks that can hit vulnerable economies hard, including in Africa.

Offshore Energy Deal: Eni has signed a Petroleum Exploration, Development and Production Licence Agreement with The Gambia for deepwater Block A1 (about 1,300 sq km, water depths up to 3,300m), marking a major step to unlock offshore hydrocarbon potential. IMF Support: The IMF says it is stepping up financial support for at least four African countries hit by the US–Israel war on Iran, including accelerated/augmented access for The Gambia under its existing program. Power Sector Pressure: A policy brief warns The Gambia is highly exposed to global shocks through imported fuel, food and commodities, citing fuel price impacts and large subsidy spending; separate reporting also puts Nawec’s regional electricity liabilities at roughly US$58m total (Senelec and Guinea’s EDG). Fuel Cost Relief: Government cut the gasoil price by D5 per litre via a D150m subsidy, aiming to ease pressure on transport operators, farmers and manufacturers. Halal Trade Push: SMIIC is in The Gambia training stakeholders on halal quality infrastructure to support internationally recognized certification and accreditation, positioning the country as a regional halal hub. Humanitarian Reach: Qatar Red Crescent’s Eid al-Adha campaign reached 247,344 beneficiaries across Qatar and 13 countries including The Gambia. Labour Tension: GAMTUB urged the Justice for All Movement to avoid a nationwide sit-down protest, calling for dialogue instead.

Offshore Energy Deal: The Gambia has awarded Eni a petroleum exploration, development and production licence for offshore Block A1, covering about 1,300 sq km in deep Atlantic waters (up to 3,300m), marking Eni’s entry into The Gambia and expanding its West Africa portfolio. IMF Support: The IMF says it is stepping up financial support for at least four African countries affected by the US–Israel war on Iran, including The Gambia, with authorities requesting a 20% augmentation of an existing $172m programme plus a possible six-month extension and rephasing. Fuel Cost Relief: Government cut gasoil by D5 per litre via a D150m subsidy, aiming to ease pressure on households, transport operators, farmers and manufacturers. Power Sector Clarity: NAWEC pushed back on claims of large debts driving outages, saying cross-border electricity payments follow reconciliation and bank guarantees, while current shortages are linked to maintenance and regional supply constraints. Halal Trade Push: SMIIC and The Gambia Standards Bureau held training to strengthen the country’s halal quality infrastructure, with plans to support internationally recognized certification and position The Gambia as a regional halal hub. Labour & Dialogue: Gambia Trade Union Bureau urged the Justice for All Movement to reconsider a proposed nationwide sit-down protest and engage through dialogue to protect jobs and investment.

Offshore Energy Deal: The Gambia has awarded Eni the offshore Block A1 petroleum exploration rights, signing a PEPLA for the 1,300 sq km Atlantic deepwater block (up to 3,300m), a major step to expand exploration capacity. Fuel Cost Relief: Government cut gasoil by D5 per litre via a D150m subsidy, while petrol (PMS) stays at D112, aiming to ease pressure on transport, farmers and manufacturers. IMF Support for Shocks: The IMF is stepping up funding for The Gambia, proposing a 20% augmentation of its existing $172m programme with a possible six-month extension and rephasing. Power Sector Update: NAWEC says recent outages are driven by maintenance and equipment rehabilitation, not debt disputes, and explains cross-border electricity payments follow reconciliation and bank guarantees. Halal Trade Push: SMIIC trained stakeholders in Banjul to strengthen The Gambia’s halal quality infrastructure, targeting internationally recognized certification and accreditation. Regional Electricity Growth: A World Bank programme reports electricity access gains for over 3 million people and thousands of km of transmission lines across West Africa. Oil & Gas Court Ruling: The High Court in Banjul ordered Oryx Energy (Gambia) to pay over D1.95m for an unlawful and unfair dismissal of an IT manager. Tax & Telecom Wins: Africell received the country’s largest taxpayer award for the 7th time, while GRA continues tax modernisation and digitalisation to boost domestic revenue.

Offshore Energy Deal: The Gambia has awarded Eni the petroleum exploration rights for offshore Block A1 under a PEPLA agreement, covering about 1,300 sq km in deep Atlantic waters (up to 3,300m), marking Eni’s entry into the country and a push to unlock hydrocarbon potential. Fuel Cost Pressure: A UTG policy brief warns Iran-related conflict risks are hitting The Gambia through imported fuel and food shocks, with fuel prices up to 40% higher and over D500m spent on subsidies in two months, while remittances and tourism face knock-on risks. Power Sector Tension: NAWEC says recent outages are driven by maintenance and equipment rehabilitation, not debt to regional utilities; it also clarifies cross-border power payments follow reconciliation and are backed by bank guarantees. IMF Support: The IMF says it will step up funding for Ethiopia, The Gambia and Burkina Faso to manage fallout from the US-Iran war, including a requested 20% augmentation and possible rephasing/extension for The Gambia’s existing program. Halal Trade Push: SMIIC is running awareness and training in Banjul to strengthen The Gambia’s halal quality infrastructure, aiming for internationally recognized certification and quality assurance systems. Fuel Price Relief: Government cut gasoil by D5 per litre via a D150m subsidy support package, while petrol prices remain unchanged.