Housing Finance in Gambia

Overview

This profile is also available in French here.

To download a pdf version of the full 2021 The Gambia country profile, click here.

The Gambia, with a landmass of 10 689 km2 and a population of 2.4 million, is one of the smallest and least populated countries in West Africa. The majority of the population lives in the Greater Banjul Area (63%). The increase in rural-urban migration continues to put pressure on housing demand, which exceeds supply. The housing deficit was over 50 000 housing in 2015 and has grown since then. The Gambian government does not invest directly in housing development and finance but rather creates an enabling environment to facilitate the private sector and some state enterprises like the Social Security and Housing Finance Corporation (SSHFC) to address the housing need. However, this enablement strategy has resulted in both informal and less than adequate housing developments in the Greater Banjul Area as the private sector and SSHFC have not met the housing demand.

The economy contracted by 0.2% in 2020, 6 percentage points lower than the real growth in pre-pandemic 2019. This contraction in real Gross Domestic Product (GDP) growth in 2020, relative to the growth registered in 2019, is largely due to the impact of COVID-19, the full economic effects of which are still unraveling. The Central Bank of The Gambia (CBG) expects the economy to grow by 4.1% in 2021 due to the relaxation of some of the lockdown measures to allow for movements of persons, goods, and services, the increase in government stimulus spending, and the relatively low number of reported COVID-19 cases at the end of 2020 and beginning of 2021. The easing of the monetary policy stance of the Central Bank of The Gambia has also impacted positively on the estimated growth rate. More recently in 2021, the CBG’s quarterly Business sentiment survey has revealed low confidence in the performance and prospects of the economy, with the overall business sentiment pointing to low economic activity in the first quarter of 2021.

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 2021 edition, which has up-to-date profiles for 55 African countries.

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