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Stock Market / Finance in Gambia

  • London eyes dual listings on west African capital markets

    BENIN, 2015/05/10 Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange. “We are looking to attract and encourage dual listings,” Ibukun Adebayo, co-chief of emerging markets at the LSE Group, tells This Is Africa during an event on west African capital markets. “Listing with the LSE provides profile and additional liquidity in nations promoting dual listings.”
  • Tax Evasion and other Corrupt Practices in Gambia

    GAMBIA, 2014/01/11 The Gambian government has published a 'white paper' on the statement of the Commission of Inquiry into Tax Evasion and other Corrupt Practices In a statement, the Gambian government said it had accepted the recommendations made by the commission that looked into cases of tax evasion and other corrupt practices from 1999 to 2011. 'The findings made against individuals and companies in the Statement are therefore binding and must be complied with,' the statement noted.
  • Council Chair Threatens to Prosecute Tax Defaulters in Gambia

    GAMBIA, 2013/11/19 The chairman of Basse Area Council (BSAC) has threatened to take legal actions against tax defaulters in the region, as deficit owed to the Council rose to D1, 395, 242 (one million, three hundred and ninety five thousand, two hundred and forty two dalasi). Omar Sampo Ceesay made these remarks at the Council Chambers over the weakened during a planning conference. He specifically expressed his displeasure at GSM companies operating in the region and some public institutions. Ceesay said the Council has been beset with numerous challenges for the completed few years, thus reiterating the need for defaulters approaching forward and settle their arrears. He stressed the need for additional collaboration in arresting the a lot of challenges so that the Council can implement additional projects in the region.
  • Gambia: Central Bank Lifts Suspension On Ria Money Transfer Services

    GAMBIA, 2013/10/26 The Central Bank of The Gambia has lifted the suspension on Ria money transfers services in the Gambian foreign exchange market effective Wednesday 23rd October, a statement issued by the bank announced Thursday. The move comes four months next the central bank suspended money transfer services from three major money transfer operators namely, Ria, Money Express and Wari from operating in the country's foreign exchange market.
  • The depreciation of the Gambian dalasi

    GAMBIA, 2013/09/09 The depreciation of the Gambian dalasi is escalating as a result of the country’s inconsistent economic policies, says the International Monetary Fund. In spite of recent economic increase, the dalasi depreciated owing to the weaknesses in the balance of payments. The inconsistent economic policies and fiscal challenges are intensifying the depreciation, and increasing Gambia‘s economic vulnerabilities. The Gambian economy has generally performed well in recent years, in spite of several challenges. The country has a small open economy with an undiversified economic base, which is vulnerable to external shocks. Owing to one such shock, the 2011 drought, there was a drop in crop production, which resulted in a reduction of Gross Domestic Production (GDP). The country, however,made significant evolution in recovery and economic increase. The country is experimenting with economic reforms to improve increase, competitiveness, and fiscal and trade policies. Even though there has been some economic increase, not all positive results have been maintained, particularly in terms of fiscal transparency and budget process, which can be attributed to the weaknesses in the in general regulatory regime. It is half experimentation with economic reforms that has resulted in the dalasi’s depreciation.