The Central Bank of The Gambia has ordered banks operating in the country to replace non-Gambian employees with suitably qualified Gambian nationals by December 31, 2026.
The directive affects several Nigerian-owned banks with operations in The Gambia, including Guaranty Trust Bank, First Bank, Access Bank and Zenith Bank.
The Central Bank issued the directive in a letter dated September 16 and addressed to managing directors of banks operating in the country.
The letter, signed by the bank’s Second Deputy Governor, Dr Paul J. Mendy, followed a meeting with bank managing directors on August 27 over staffing practices within the banking industry.
According to the regulator, an industry study found that banks employ a relatively high number of non-Gambian workers in addition to expatriate employees already recognised under existing regulations.
The Central Bank said the practice contravenes provisions of The Gambia’s Labour Act 2023 and is inconsistent with Guideline 9 governing expatriate staff.
It therefore directed banks to begin a phased replacement of existing non-Gambian employees with qualified Gambian nationals.
Banks have also been instructed to put measures in place to ensure the transfer of skills and responsibilities to local employees while maintaining continuity of their operations.
The regulator said the transition must be completed by the end of December.
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“You are hereby directed to ensure full compliance with the law and strict compliance with CBG’s guidelines,” the Central Bank said in the letter.
The directive is expected to require affected banks to review their workforce, identify positions currently occupied by non-Gambian employees and develop plans for transferring their responsibilities to qualified Gambian workers.
The Central Bank did not disclose the number of employees affected by the directive or identify specific banks in the publicly circulated letter.
The affected institutions include subsidiaries of major Nigerian banking groups that operate across several African markets.
GTBank, FirstBank, Access Bank and Zenith Bank have established banking operations in The Gambia as part of their wider West African presence.
The regulator’s directive means the banks will have to accelerate local recruitment and skills-transfer programmes as they work towards the December deadline.
The policy also places greater emphasis on the employment of Gambian nationals in the country’s banking sector, while allowing banks to retain arrangements for expatriate positions covered by existing rules.
Banks are expected to communicate their compliance plans to the Central Bank as they implement the phased transition.
The regulator has not indicated what penalties, if any, will apply to banks that fail to meet the December 31 deadline.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
