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Starting a business in The Gambia

It is obvious that government and its agencies cannot provide employment for all Gambians, therefore small to large businesses are needed to fill the gaps and provide competitive services and prices for everyday goods and services. Recently, a world survey of countries showed Gambia at the bottom of the pile for creating businesses and maintaining it. 

Gambia's offshore oil fields expected to end poverty in the country

The first exploration well in the offshore oil fields in the Atlantic is expected to be started in late 2018, as Gambia follows Senegal, Mauritania and Ghana in the subregion, who have already benefitted from the petroleum and gas products offshore. Senegal, which encloses Gambia on all sides except the Atlantic ocean front, have already started drilling the wells, after its first exploration well produced the largest oil findings in the world last year.

Gambia has one of the highest government debts to GDP ratio and one of the worst places to do business

With the world experiencing one of the lowest rate on interest since record began with some rates in the negatives in some of the richest countries, means that cheaper borrowing and therefore more money for spending. The World Economic Forum (WEF)'s Global Competitiveness Survey took a look at the competitveness of nations and their level of government debts against their GDP percentage, concluding that the those with the lowest debt to GDP ration the better. 

Gambia under Jammeh has one the highest rates of tax in the world

With the natural resources of The Gambia being mined privately and the earnings siphoned into Jammeh's private account, Gambia is the 13th country in the world with the worst tax rate at 63.3 per cent, just below Mauritania and Chad. The rich natural resources in The Gambia, some of which includes quartz sand or silica for glass manufacturing, Zircon minerals and even Coltan for mobile phone manufacturing are being mined illegal by some firms, conspiring with the dictator to deprive the nation of its natural resources.

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