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" /> Voice Out Digital Central Bank of the Gambia Launches The Gambia’s First Capital Market | Voice Out Digital
Published On: Fri, Sep 29th, 2023

Central Bank of the Gambia Launches The Gambia’s First Capital Market

History was made today as The Gambia launched its first-ever Security Capital Market at the Sir Dawda Kairaba Jawara International Conference Centre. 

The Central Bank has been appointed to establish and support the Securities and Exchange Commission (SEC) along with the Gambian Stock Exchange. The SEC will be responsible for regulating the Stock Exchange.

Additionally, the Central Bank has initiated the establishment of both the Stock Exchange, named The Gambia Stock Exchange, and the Central Securities Depository (CSD) to settle securities transactions conducted on the Stock Exchange.

During the launching, the  Minister of Finance Seedy Keita as the chief enabler, emphasized the crucial roles of both markets and government in regulating the nation’s burgeoning capital market.

He highlighted The Gambia’s commitment to embracing the classical approach of free market economies, where markets operate efficiently and the government’s primarily role focuses on regulation and ensuring a level playing field for all participants.

The Vice President Muhammed B Jallow, in his opening remarks, expressed pride in the nation’s achievements and the government’s dedication to fostering economic growth and stability.

The ceremony featured speeches from key figures involved in the establishment of the Security Capital Market, including representatives from the Ministry of Finance and Economic Affairs, the Central Bank of The Gambia, and the newly formed Gambia Security Exchange Commission (GSEC).

Representatives from securities commissions worldwide attended, highlighting the global interest in The Gambia’s financial progress. The presence of international consultants underscored the collaborative efforts invested in developing the country’s financial infrastructure.

The launch of The Gambia’s Security Capital Market signals a new chapter in the nation’s economic development. The capital market offers a platform for Gambian businesses to access investment capital, expand their operations, and contribute to the nation’s economic growth.

Furthermore, the market will provide an avenue for Gambians and international investors to participate in the country’s economic journey.

The occasion was  graced by the Vice President of the Republic and attended by numerous distinguished guests from Nigeria and securities commissions around the world. 

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