A new directive from The Gambia’s central bank has sparked debate over how far the country should go in prioritising local employment without disrupting its banking sector.
The Central Bank of The Gambia has ordered commercial banks to replace non-Gambian employees who are not covered by approved expatriate quotas.
Banks have been given until December 31, 2026, to identify qualified Gambian nationals who can take over the affected positions.
The directive applies to commercial banks across the country, including Nigerian-owned institutions such as Access Bank, FirstBank, Guaranty Trust Bank and Zenith Bank. Ecobank and other regional lenders are also affected.
The central bank said the decision followed an industry-wide review of employment practices in the banking sector.
According to the regulator, the review uncovered a “relatively high number” of non-Gambian workers who were employed in banks outside the category of formally approved expatriate staff.
The CBG said the practice was inconsistent with provisions of The Gambia’s Labour Act 2023 and Guideline 9, which regulates expatriate employment in the banking industry.
Under the directive, affected banks are expected to identify suitably qualified Gambians for the positions.
They must also develop succession plans and ensure that the necessary skills and institutional knowledge are transferred to local employees.
The regulator further instructed banks to manage the transition in a way that does not interfere with their operations.
The policy has, however, attracted criticism from some commentators who question its potential impact on regional labour mobility and the banking industry.
Gambian commentator Alpha Bah questioned the broader implications of restricting African workers within Africa.
He argued that African governments should apply the same principles of freedom of movement when dealing with African migrants as they expect from countries outside the continent.
Financial analyst and economist Chukwunonso Ihuoma also questioned whether The Gambia has enough qualified professionals to fill all the affected positions without affecting banking efficiency.
He warned that a rushed transition could increase recruitment and training costs while creating operational challenges for banks.
According to Ihuoma, replacing experienced employees within a short period could require significant spending on recruitment, training and knowledge transfer.
Emerging markets analyst Ike Ibeabuchi raised similar concerns.
He pointed to specialised areas such as cybersecurity, treasury, risk management, technology and compliance, where experienced professionals can be difficult to replace quickly.
Ibeabuchi also noted that regional banks often transfer experienced employees between subsidiaries as part of their operations.
He argued that tighter restrictions on such movement could make regional banking more expensive and less flexible.
Another concern is competition for skilled Gambian professionals.
If several banks begin recruiting for the same specialised positions at the same time, analysts say salaries could rise as lenders compete for a limited pool of qualified workers.
The critics also warned that uncertainty around employment regulations could influence how multinational and regional banks assess future investment and expansion plans in the country.
The Central Bank, however, has maintained that the directive is aimed at ensuring compliance with existing employment regulations while encouraging greater opportunities for qualified Gambian professionals.
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