{"id":43840,"date":"2023-09-30T06:48:10","date_gmt":"2023-09-30T06:48:10","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/?p=43840"},"modified":"2023-09-30T05:12:21","modified_gmt":"2023-09-30T05:12:21","slug":"central-bank-launches-gambias-first-ever-capital-market","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market","title":{"rendered":"Central Bank Launches Gambia\u2019s First Ever Capital Market"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>The Central Bank of the Gambia launched the country\u2019s first capital market on Friday at the Sir Dawda Kairaba Jawara International Conference Center in Bijilo.<\/b><\/p>\n

The bank is leading the effort to establish a capital market in The Gambia, following the passage of the Capital Market and Securities Act (2021) and the Central Bank\u2019s appointment to establish and oversee the Securities and Exchange Commission (SEC) and the Gambian Stock Exchange. The SEC will regulate the stock exchange.<\/p>\n

Vice President Muhammed B.S. Jallow announced at the launch ceremony that the Capital Market and Securities Act will be the primary regulatory framework for the capital market, ensuring fairness, dynamism, transparency, and efficiency.<\/p>\n

\u201cThe Capital Market and Security Act will serve as the principal regulatory document for the capital and security markets to ensure a dynamic, fair, transparent, and efficient system that supports economic development. In accordance with the green recovery focus of the national development plan for 2023\u20132027 and the long term development vision to 2050. It\u2019s planned and expected that the capital market will be a vital pillar in providing required funding through its diverse product of forex and financing mechanisms,\u201d he said.<\/p>\n

Seedy Keita, the Minister of Finance and Economic Affairs, has said that the Gambia\u2019s financial system has been unable to meet the country\u2019s financial and economic needs for sustained economic growth, poverty reduction, and human and physical infrastructure development since independence.<\/p>\n

\u201cThe Gambia\u2019s financial architecture has been limited since the independence of the Country and has been unable to meet the financial and economic needs of the country for sustained economic growth, poverty reduction, and human and physical infrastructural development. We are gathered here to launch one of these initiatives, which is the first capital market of the Gambia, and that would over time provide ordinary Gambians and private sector opportunities for investments in securities such as stocks and bonds and to raise affordable capital to fund their investments and grow their businesses,\u201d he said.<\/p>\n

Buah Saidy, the Governor of the Central Bank of the Gambia, emphasizes the significance of the capital market, highlighting the multifaceted benefits it offers. He states, \u201cThe essence of having a capital market in the Gambia encompasses the following, Capital markets not only facilitate the mobilization of long-term savings and investment but also assist in price discovery in the case of credit instruments and enhance disclosure through perfect information flows between economic agents.\u201d<\/p>\n

Saidy further underscores that capital markets contribute to the efficient allocation of resources by directing long-term investments toward sectors where they are most essential. The development of the capital market fosters economic growth and serves as a substantial source of funding for the corporate sector, playing a pivotal role in overall economic advancement.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. The Central Bank of the Gambia launched the country\u2019s first capital market on Friday at the Sir Dawda Kairaba Jawara International Conference Center in Bijilo. The bank is leading the effort to establish a capital market in The Gambia, following the passage of the Capital Market and Securities Act (2021) and the […]<\/p>\n","protected":false},"author":84,"featured_media":43839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[2355,2361,260],"class_list":["post-43840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-gambia","tag-gambia"],"yoast_head":"\nCentral Bank Launches Gambia\u2019s First Ever Capital Market - Gambia<\/title>\n<meta name=\"description\" content=\"The Central Bank of the Gambia launched the country\u2019s first capital market on Friday at the Sir Dawda Kairaba Jawara ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank Launches Gambia\u2019s First Ever Capital Market\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of the Gambia launched the country\u2019s first capital market on Friday at the Sir Dawda Kairaba Jawara ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-30T06:48:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2023\/09\/sm_1696038010.762533.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"577\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Central Bank Launches Gambia\u2019s First Ever Capital Market\",\"datePublished\":\"2023-09-30T06:48:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\"},\"wordCount\":478,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2023\/09\/sm_1696038010.762533.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/central-bank-launches-gambias-first-ever-capital-market\",\"name\":\"Central Bank Launches Gambia\u2019s First Ever Capital Market - 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