As Limited Employment Opportunities hit Public Sector

In recognition of the significant role micro, small and medium enterprises play in the economic growth and development of the country, the government, through the Department of State for Trade, is currently finalising a national micro, small and medium size enterprise policy.

On implementation the policy would seek to facilitate development and enhance government’s contribution to the sustainable economic growth and development of the Gambian economy and thus create a conducive and stable operating environment for all stakeholders in the sector.

“With limited employment opportunities in the public sector coupled with mixed fortunes in the productive sector, such as agriculture, a growing number of Gambians are turning to the small enterprise for employment,” said the Secretary of State for Trade, Industry and Employment, Abdou Colly, at the opening of a one-day private sector workshop an Technical Assistance and financial facilities at the Kairaba Beach Hotel yesterday.
According to Secy Colly the potential of the sector in creating a forward and backward linkage between the informal/formal economy, promotion of resource-based import, substitution and the development of a culture of entrepreneurship are very great.

He further state that the government of the Gambia, anchored on a private sector-led development strategy, in 1996 adopted vision 2020 as the national development blue print.

“The government considers the private sector as the engine of growth for sustainable development. Since then there has been a steady growth in the development of micro and small enterprises within the informal sector,” he added. The Trade, Industry and Employment Secy further posited that enterprise development in the Gambia remains a major challenge mainly because of lack of access to long-term financing. He also revealed that long-term development financing for production investment is vital for economic development but largely unavailable in The Gambia, especially for small and medium enterprises.