Housing Finance in Gambia


For the French version of this country profile, click here.

To download a pdf version of the full 2018 The Gambia country profile, click here.

Classified as a least developed country (LDC), with a GNI per capita of US$473.2 in 2017, The Gambia is the smallest country on mainland Africa with a total land area of 11 295m², of which 50 percent is arable land. Its economy relies mainly on services (66 percent of GDP in 2016) as the main driver of growth, and a volatile, drought-prone agriculture sector (21 percent of GDP in 2016).

According to the CBG, the banking sector remains well capitalised, highly liquid and profitable, with a liquidity ratio at 94.7 percent. The national mortgage market remains low and this is evident given the company’s narrow portfolio of just 47 mortgages on its books as of the end of 2017, with a total portfolio of approximately US$300 000, which is insignificant compared to total banking industry loan portfolio of about US$88 million.

GBoS Income and Household Survey 2015/2016 notes that 56.1 percent of households in The Gambia live in owner-occupied dwellings, with 31.2 percent living in rented housing due to the lack of affordable housing. The demand for housing among the urban population continues to exceed supply, with a housing deficit estimate of 50 000 housing units, according to the Ministry of Lands and Regional Government in 2015, still being the deficit being referred to by industry players.

Find out more information on the housing finance sector of the Gambia, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2018 edition, which has up-to-date profiles for 54 African countries.

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