In many ways, The Gambia represents one of the most compelling fintech frontiers in Africa. This is not because of scale but rather of potential. At present, the country’s fintech ecosystem remains small, yet it is increasingly shaped by digital transformation efforts, mobile-first financial services, and a growing recognition of fintech’s role in economic development. According to the World Bank, with a population of approximately 2.7 million and GDP estimated at around $2.8 billion, the Gambia’s economy is driven by agriculture, tourism, and , like many developing economies, remittances. These structural characteristics help understand the trajectory of its fintech sector. Financial services, inclusion and digital economic development In terms of the financial services sector, the country’s sector remains underdeveloped, with limited banking penetration and a strong reliance on cash. The sector is regulated by the Central Bank of The Gambia (CBG), which has taken steps to modernise payment systems and encourage digital financial services. Financial inclusion remains a key challenge. According to the World Bank Global Findex, a significant portion of the population remains unbanked, particularly in rural areas. Barriers include low income levels, limited financial literacy, and geographic constraints. Women and informal sector workers are disproportionately affected. The country’s digital economy ambitions are embedded within its National Development Plan (NDP) and subsequent digital strategies, which prioritise ICT infrastructure, financial inclusion, and public sector digitisation. Despite its challenges, mobile penetration has exceeded 100 per cent, while internet usage continues to grow steadily, supported by investments in broadband and mobile networks.…
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