Gambia’s Financial Inclusion Reaches 82%, Central Bank Targets Full Coverage by 2030 Through Digitalisation

By Seedy Jobe

The Governor of the Central Bank of The Gambia, Buah Saidy, has announced that the country’s financial inclusion rate has reached 82 percent, a significant rise from 19 percent in 2019, describing the achievement as a major milestone in the country’s financial sector reforms.

He pledged that the remaining 18 percent of adults will be brought into the formal financial system by 2030, as part of a broader strategy to fully digitalise the Gambian economy.

Governor Saidy made these remarks on Thursday, June 11, 2026, at the launch of the FinScope Consumer Survey 2025, held at the Sir Dawda Kairaba Jawara International Conference Centre in Bijilo. He said the survey findings reflect a transformative shift in access to financial services across the country.

“I am filled with both pride and a deep sense of responsibility regarding the survey’s findings. The outcome is far more than a collection of statistics—it reflects the hopes, struggles, and aspirations of every Gambian, both at home and abroad,” he stated.

Reflecting on the Central Bank’s Financial Inclusion Strategy launched in 2021, Governor Saidy recalled initial skepticism about the target to raise inclusion to 75 percent by December 2025.

“When I came in as governor in October 2020, I found this FinScope survey on my desk. The Financial Inclusion Strategy was launched in 2021, and there we made a promise to move the financial inclusion rate from 19% to 75% by the end of December 2025. Many people thought I was crazy; it couldn’t be done, but today we are at 82%,” he said.

According to the Governor, the increase represents more than 1.22 million adults now formally included in the financial system, up from approximately 245,000 in 2019. He attributed this growth to the expansion of mobile money services, alongside the contributions of fintech companies, commercial banks, microfinance institutions, credit unions, and development partners.

“The just-concluded FinScope survey revealed that in 2025, 82% of adults had access to formal financial services. This translates to over 1.22 million adults who are now formally financially included in The Gambia,” he added.

Governor Saidy also outlined a series of reforms aimed at deepening financial inclusion and strengthening the digital financial ecosystem. These include the restructuring of Gamswitch using the Mojaloop platform, developed in partnership with the Gates Foundation, to enable seamless interoperability between banks, mobile money operators, and fintech firms for both domestic and international transactions.

He further announced that fintech companies will be required to maintain a 10 percent reserve with the Central Bank, compared to the 13 percent reserve requirement for commercial banks.

Looking ahead, the Governor set an ambitious five-year target to fully digitalise the Gambian economy, supported by the introduction of a virtual asset regulatory framework currently being developed with technical assistance from the Bank of Ghana.

“Digitalisation is something that we at the board level have taken a decision that in the next five years, the Gambian economy will be fully digitalised,” Saidy said. “And then the intent of the law is to create legislation to have the economy fully digitalised, and then the virtual asset law will be used to supervise virtual assets and the digital money in the system,” Saidy explained.

Despite the progress, Governor Saidy acknowledged that 18 percent of adults remain financially excluded, citing factors such as low income, limited financial literacy, and geographic disparities. He noted that women and rural populations are disproportionately affected.

“We must not rest until every Gambian, regardless of gender, age, or location, has the opportunity to participate fully in our financial system. I promise you, by 2030, towards the end of my tenure, as second tenure as Governor of the Central Bank, we will get that 18% into the phone,” he said.

He called on stakeholders across the financial sector to leverage the survey findings to address existing gaps and sustain momentum. “Let us celebrate how far we have come, but let us also renew our resolve to do even more in the future. Together we can build a Gambia where no one is left behind,” he concluded.