AGP Executive Report

Fuel Relief for Industry: The Ministry of Petroleum, Energy and Mines says gasoil (diesel) drops by D5 per litre, with government committing over D150M in subsidy support to cushion households, transport operators, farmers, manufacturers and other diesel-dependent businesses; PMS petrol stays at D112. Halal Trade Push: A SMIIC delegation is in The Gambia (June 1–5) training stakeholders to strengthen the national halal quality system, aiming for internationally recognized certification and to position the country as a regional hub for halal-certified products and services. Power Crisis Accountability: NAWEC says recent outages are driven by maintenance and equipment rehabilitation, not debts to regional suppliers; meanwhile GALA warns of a June 19 deadline for government and NAWEC to act, arguing planning failures are behind the crisis. Regional Energy Integration: The World Bank reports West Africa’s power programme has expanded electricity access to over 3 million people, built 4,000+ km of transmission lines across 15 countries, and is preparing a regional electricity market. Tax and Telecom Spotlight: Africell wins Gambia’s largest Taxpayer Award for the 7th time, while GRA reforms continue to focus on digital tax administration and boosting domestic revenue. Court Ruling: The High Court awards former Oryx Energy IT manager Momodou Jallow over D1.95M for unlawful and unfair dismissal. Investment and Jobs Angle: IFC and partners highlight gender-focused private sector programmes, while The Gambia prepares to host the 2026 AUSC Region 2 Games (June 7–13), expected to boost hospitality and services.

Electricity & Power Sector: The World Bank says its West Africa Regional Power Integration and Electricity Access Programme is boosting supply and cross-border trade, with over 4,000km of transmission lines built and more than 3 million people gaining access to power in member states including The Gambia. Energy Accountability Pressure: GALA has warned NAWEC and the government to stabilize electricity by mid-June, arguing the crisis is driven by weak planning and lack of backup generation, not just regional supply issues. Fuel Cost Relief: Government reduced diesel by D5 per litre (to D115), with a D150m subsidy commitment aimed at easing the cost-of-living impact on transport and businesses. Hydrocarbons & Investment: The government signed a Petroleum Exploration and Production Licence Agreement for Offshore Block Al with Eni Gambia Ltd, targeting exploration and potential development in a prospective Atlantic Margin basin. Maritime & Logistics: Bojang Sankaranka Shipping and Logistics Services was named GRA Clearing and Forwarding Agency of the Year for strong tax compliance, while MSC confirmed its vessel MSC Sariska V was hit by projectiles near Umm Qasr, underscoring ongoing risks to regional shipping. Sports Tourism: The Gambia will host the 2026 AUSC Region 2 Games in Banjul from 7–13 June, expected to bring visiting delegations and boost hospitality and services. Macroeconomic Support: The IMF is set to disburse about US$8.5m to The Gambia after a staff-level agreement under the ECF, alongside an RSF review.

IMF Support for Gambia: The IMF says it has reached staff-level agreements for a fifth review under the 36-month ECF and a second review under the RSF, paving the way for about US$8.5m in disbursement, with total access increased to help address challenges linked to the Middle East conflict. Electricity Accountability Push: GALA has warned the government and NAWEC to stabilize power by June 19 or face a nationwide protest, arguing the crisis is driven by planning and management failures, not just technical issues. Fuel Cost Relief: Government has reduced diesel by D5 (to D115/litre) and set aside over D150m in subsidies, offering short-term relief for transport and businesses while questions remain on long-term sustainability. Energy Sector Moves: The government announced signing a Petroleum Exploration and Production Licence Agreement for Offshore Block Al with Eni Gambia Ltd, aiming to unlock hydrocarbons and boost investor confidence. Maritime & Logistics Recognition: Bojang Sankaranka Shipping and Logistics Services was named GRA Clearing and Forwarding Agency of the Year, highlighting compliance and trade facilitation. Sports & Tourism Boost: The Gambia is preparing to host the 2026 AUSC Region 2 Games in Banjul (7–13 June), expected to drive activity in hospitality and services. Gender in Media Leadership: A study highlights women’s “exit from power” in Gambian newsrooms, with leadership representation far lower than workforce presence. Regional Energy Context: Commentary on the OMVG project stresses that transmission/interconnection is progressing, but generation depends on the Sambangalou Dam completion. Banking Deal: Bank of Uganda approved a transaction allowing Absa to take over Standard Chartered Uganda’s wealth and retail banking business.

Maritime Security & Trade Disruption: The US Central Command says it disabled a Botswana false-flagged VLCC (Lexie) bound for Iran’s Kharg Island with a Hellfire strike, after repeated warnings—highlighting how Gulf tensions keep spilling into global shipping routes that affect fuel and freight costs. Gambia Energy & Cost of Living: The Gambia government reduced diesel by D5 per litre (to D115) after committing over D150m in subsidies, but transport unions warn prices still strain operators and fares. Power Crisis Accountability: GALA threatened a nationwide protest if electricity supply and accountability don’t improve by 19 June, while NAWEC’s leadership says the crisis is not political and points to regional grid and technical issues. Oil Sector Deal: The Ministry of Petroleum, Energy and Mines announced signing a Petroleum Exploration and Production Licence Agreement for Offshore Block A1 with Eni Gambia Ltd, aiming to unlock offshore hydrocarbons and boost investor confidence. Shipping & Logistics Recognition: Bojang Sankaranka Shipping and Logistics Services was named GRA Clearing and Forwarding Agency of the Year for compliance and timely tax payments. Regional Cooperation: The Gambia called for deeper economic cooperation with South Korea, including trade, infrastructure, agriculture and digital transformation, following Seoul talks. Agriculture Finance: AfDB urged West Africa to move from rice plans to action, warning the region’s $3.5bn annual rice import bill is draining reserves.

Fuel & Transport Relief: The Gambia cut diesel by D5 per litre (to D115) after committing over D150m in subsidies, easing pressure for transport operators and households, though unions say prices still lag behind transport tariffs. Monetary Policy Watch: The Central Bank’s Monetary Policy Committee kept the Monetary Policy Rate at 14% after reviewing global growth and inflation risks. Power Crisis Pressure: NAWEC’s explanations are being challenged by rights groups and civil society; GALA says the real issue is planning and accountability and threatens action if outages don’t improve by 19 June. Energy Governance: A separate critique argues the electricity crisis is political, not technical, as businesses and schools keep getting hit. Offshore Oil Deal: Government is set to sign a Petroleum Exploration and Production Licence Agreement for Offshore Block A1 with Eni Gambia Ltd, aiming to boost investor confidence and unlock hydrocarbons. Shipping & Logistics: Bojang Sankaranka Shipping and Logistics Services was named GRA Clearing and Transit Agency of the Year, highlighting compliance in customs and transit. Maritime Security Context: Regional shipping remains tense amid Gulf of Oman/Strait of Hormuz disruptions, with reports of attacks on vessels and wider knock-on effects for fuel and trade. Diplomacy for Trade: The Gambia pushed for deeper economic cooperation with South Korea in Seoul, focusing on infrastructure, agriculture, technology and digital transformation. Industry & Jobs Spotlight: A feature profiles Hamidou Jah and Jah Oil Company’s role across fuel distribution, cement production and commercial farming. Cost-of-Living Protest: Justice for All plans a nationwide sit-down strike starting 8 June over fuel and transport hikes.

Electricity & Business Impact: NAWEC’s MD Saidy says The Gambia’s power crisis isn’t politics, blaming technical issues on the OMVG regional grid, fuel-related generation limits, and Senegal’s recent loss of capacity—while local generation and solar are helping cushion outages. Power Supply Pressure: A separate report says Greater Banjul Area businesses are losing money as load-shedding hits up to 10 hours daily, with NAWEC citing reduced Senelec imports and fuel/spare-part constraints. Maritime & Trade Security: The U.S. says it disabled a Gambia-flagged cargo ship (Lian Star) trying to breach the Iran blockade after 20+ warnings, firing into the engine room and leaving it stranded in the Gulf of Oman. Energy & Industry Link: The Gambia’s petroleum delegation, led by Minister Nani Juwara, showcased MSGBC Basin exploration potential at Africa Energies Summit 2026 in London. Logistics Recognition: Bojang Sankaranka Shipping and Logistics Services won GRA Clearing and Forwarding Agency of the Year for strong customs compliance. Regional Governance: Senegal nominated Birame Diop for ECOWAS Commission President ahead of July 2026 approval.

Electricity Crisis Hits Businesses: NAWEC says Greater Banjul and parts of the country are facing load-shedding after reduced SENELEC imports, maintenance delays, and fuel-cost constraints, with outages reported up to 10 hours a day and a gradual return expected by mid-June if imports resume. Public Pushback on NAWEC Communication: Opposition figures and economists accuse NAWEC of misleading the public and demand clearer, more accountable crisis management. Shipping & Trade Disruption Risk: The US says it disabled a Gambia-flagged cargo ship, Lian Star, after repeated warnings as it tried to breach the Iran blockade—another reminder of how regional conflict can disrupt maritime trade. Energy Sector Diplomacy: Minister Nani Juwara led The Gambia’s delegation to the Africa Energies Summit in London, showcasing offshore exploration potential and pushing for investment links. Regional Leadership Talks: President Faye and Senegal’s President Adama Barrow held closed-door talks in Banjul focused on cooperation and regional security. Industry Recognition: Bojang Sankaranka Shipping and Logistics Services was named GRA Clearing and Forwarding Agency of the Year for strong customs compliance. Governance Debate: The UDP and other voices renewed criticism of government oversight and accountability, with energy and public spending among key targets.

Maritime Enforcement Hits Gambia-Flagged Cargo: The US Central Command says it disabled the Gambia-flagged vessel M/V Lian Star in the Gulf of Oman after the crew ignored 20+ warnings and tried to reach an Iranian port, firing a Hellfire missile into the engine room; the ship was left adrift and not boarded. Strait of Hormuz Trade Pressure: The blockade and ongoing Iran-US standoff continue to disrupt shipping through the Hormuz chokepoint, affecting oil, gas and even fertilizer supply chains that feed food and industry costs. Diplomacy Still Stalled: US and Iran exchanged messages over a draft ceasefire/Strait reopening deal, but Trump reportedly sent tougher changes—especially around Iran’s nuclear commitments and possible asset releases—while Iran’s chief negotiator said no agreement will be approved without securing Iran’s rights. Power Sector Watch in The Gambia: The Gambia government condemned misinformation about electricity supply cuts, urging national unity while saying constraints are being addressed through ongoing efforts. West Africa Grid Expansion: A World Bank-backed power programme reports electricity access gains for over 3 million people across West Africa, including The Gambia, via thousands of kilometres of transmission lines and cross-border trading.

West Africa Power Push: A World Bank-backed regional electricity programme says it has extended power access to over 3 million people across West Africa, building 4,000+ km of high-voltage lines linking 15 countries and boosting cross-border power trade—supporting households, businesses and industry. Maritime Trade Shock for Gambia-Linked Shipping: The US Central Command reports it disabled the Gambia-flagged cargo ship M/V Lian Star in the Gulf of Oman with a Hellfire missile after the crew ignored 20+ warnings while trying to reach an Iranian port; the vessel was left adrift and US forces say they’ve stopped six ships and redirected 116 since the blockade began. Iran-US Deal Stalls: Iran says it won’t approve any US agreement unless Iranian rights are secured, while the US says it is “more than capable” of resuming strikes if talks fail. Strait of Hormuz Costs: Qatar opposes permanent transit fees for the Strait of Hormuz, warning they would hit consumers, while temporary tolls tied to specific needs are “negotiable.”

Maritime Trade & Shipping: The US says it disabled the Gambia-flagged bulk carrier “Lian Star” after it ignored warnings and tried to breach the US blockade to enter an Iranian port; the ship remains adrift in the Gulf of Oman and the US has stopped six vessels so far, raising fresh concerns for regional shipping and commodity flows. Diplomacy & Security: US Defence Secretary Pete Hegseth warned Iran it can either reach an agreement or face military consequences as talks continue, with a fragile ceasefire since April 7 still under pressure. Gambia Economy & Reform: In Banjul, the IMF says it reached staff-level agreement on reviews under the Extended Credit Facility and Resilience and Sustainability Facility, noting missed fiscal targets but progress on reforms and climate resilience. Energy & Infrastructure (Regional): Guinea’s OMVG leadership warned that cash constraints and contract tensions could delay major energy projects like the Sambangalou Dam and OMVG interconnection. Business & Finance (Gambia-linked): Starlink has secured a Gambia-related license after tax and sovereignty concerns were raised, signaling continued telecom and connectivity expansion.

Banking Capital Raise: Abbey Mortgage Bank Plc says shareholders have approved fresh funding of up to N164.5bn, including a N64.5bn private placement and authority to raise an extra N100bn via equity and debt, positioning the lender for a next growth phase and a push toward a regional commercial licence. IMF Program Update (The Gambia): In Banjul, the IMF team reached staff-level agreement on the fifth review under the Extended Credit Facility and the second review under the Resilience and Sustainability Facility, with growth estimated at 6.0% in 2025 and inflation easing, though 2026 remains clouded by Middle East-linked commodity and risk pressures. Regional Agro-Industry & Energy Finance: Niger secured an additional $684m from Chinese firms for basic infrastructure tied to special agro-industrial processing zones, while it also moved on solar power plans and waterworks upgrades—signals of wider West African investment momentum. Energy Integration Governance: OMVG’s council session heard warnings that cash flow strains and contractual tensions could delay key energy projects like the Sambangalou Dam and the OMVG Interconnection unless member states clear contributions and stabilize budgets. Food Inflation Pressure (The Gambia): A local commentary highlights how rising food prices are squeezing households across the country, arguing The Gambia needs deeper “food sovereignty” reforms beyond short-term market fixes. Maritime & Shipping Risk: Reports on attacks involving Russia-linked “shadow fleet” tankers underscore ongoing volatility in global shipping routes that can ripple into fuel and logistics costs. Visa-Free Integration Trend: Congo announced visa-free access for all Africans from Jan 1, 2027, joining a growing list of regional moves that aim to boost trade and mobility.

IMF Deal for The Gambia: Gambian authorities and IMF staff have wrapped up 2026 Article IV talks, agreeing on an extended credit facility review under the ECF and a second RSF review to boost resilience to weather shocks, despite missing two fiscal targets linked to higher 2025 spending. Tax & Energy Wins: At the GRA Annual Taxpayers’ Awards, Jah Oil/Jah Multi Industries was named Importer of the Year for steady compliance, while President Barrow praised domestic resource mobilisation and highlighted rising tax collections. Monetary Policy: The Central Bank of The Gambia kept the monetary policy rate at 14% and maintained reserve and lending/deposit facility ratios, citing the need to balance growth with inflation risks. Energy Spotlight: Director General Cany Jobe Taal won a Leading Woman in African Energy Award in London as The Gambia showcased petroleum potential to investors at Africa Energies Summit. Food Inflation Pressure: A commentary warns that food inflation is hitting ordinary Gambians hardest and calls for deeper food-sovereignty reforms, not just short-term fixes. OMVG Energy Funding: Guinea’s energy minister, now OMVG chair, warned that cash-flow strains and contract tensions could delay key projects like Sambangalou Dam and the OMVG interconnection. Regional Integration: Congo announced visa-free access for all Africans from Jan 1, 2027, joining a growing list including The Gambia.

Energy & Regional Power: Guinea’s energy minister and new OMVG chair Laye Sekou Camara warned that cash-flow strains and contract tensions could delay key projects like the Sambangalou Dam and the OMVG Interconnection, urging member states to clear dues and fund 2026 budgets. Tax & Fuel Sector: In The Gambia, the GRA’s 2026 Taxpayers’ Awards highlighted Jah Multi Industries/Jah Oil as “Importer of the Year,” praising steady compliance as domestic revenue rises and tax reforms modernise administration. Monetary Policy: The Central Bank of The Gambia kept the Monetary Policy Rate at 14% and maintained reserve and lending/deposit facilities, citing inflation pressures and global risks. Food Prices: A new commentary flags food inflation at 6.7% as a direct hit to ordinary Gambian households, calling for deeper food-sovereignty reforms beyond short-term market fixes. Trade Opportunities: A brief notes China’s zero-tariff access for Gambian products, but stresses the real gap is scaling local production capacity to benefit from new market openings. Maritime Security: Obangame Express OE26 wrapped up after a major West and Central Africa maritime readiness exercise that included The Gambia, targeting piracy, illegal fishing and trafficking. Agriculture Tech Link: A feature on hybrid rice cooperation highlights Guinea’s gains from Chinese support, with yields reported at up to six tonnes per hectare in demonstration parks. Entrepreneurship Spotlight: Ghana’s Enterprise Spotlight Challenge crowned Delsoy Milk Drink’s Bridget Eshun with GHȼ100,000 for plant-based, zero-waste nutrition products.

Visa & Mobility Push: Congo will scrap visas for all African nationals from Jan 1, 2027, joining a growing group of African countries easing travel to boost AfCFTA trade and integration. Gambia’s Economic Pressure: A new commentary highlights how food inflation at 6.7% is squeezing Gambian households hardest, pointing to exchange-rate, transport, energy and climate-linked farm constraints. Tax & Industry Signals: At the GRA Taxpayers’ Awards, Jah Oil/Jah Multi Industries was named Importer of the Year, while President Barrow praised tax compliance and reported GRA collections of over D25.3bn in 2025. Energy & Investment Visibility: Gambia’s petroleum regulator, Engr. Cany Jobe Taal, won a Leading Woman in African Energy award in London as the country showcased upstream potential. Maritime Readiness: Obangame Express OE26 wrapped up after a three-week Gulf of Guinea exercise that included The Gambia, aiming to improve readiness against sea crimes.

Energy & Infrastructure: Gambia hosted the 15th extraordinary session of the OMVG Council of Ministers, where Guinea’s energy minister warned that cash-flow strains and contract tensions could delay key projects like the Sambangalou Dam and the OMVG Interconnection, urging member states to clear dues and fund 2026 operations. Tax & Business Climate: At the GRA 2026 Taxpayers’ Awards, President Barrow praised domestic resource mobilisation, highlighting that tax collections rose to over D25.3bn in 2025; Jah Multi Industries/Jah Oil was named Importer of the Year for consistent compliance. Monetary Policy: The Central Bank of The Gambia kept the Monetary Policy Rate at 14% and maintained reserve and lending/deposit facility rates, citing inflation pressures and global risks. Petroleum Spotlight: Engr. Cany Jobe Taal won a Leading Woman in African Energy Award in London, as The Gambia showcased petroleum potential and data improvements to investors. Food Costs: A feature on food inflation (6.7%) focused on how rising prices are squeezing households across the country, calling for deeper food-sovereignty reforms. Digital Connectivity: UCC licensing and taxation questions surfaced as Starlink sought a clearer regulatory and security framework for operations in the region.

Monetary Policy Update: The Central Bank of The Gambia kept its Monetary Policy Rate at 14% and maintained key reserve and lending/deposit facilities, citing rising inflation pressures and global risks. Tax & Revenue Drive: The Gambia Revenue Authority urged Gambians to embrace digitalisation as it transforms tax collection, while President Barrow praised taxpayers and highlighted GRA’s 2025 revenue surge. Energy & Petroleum Spotlight: The Petroleum Commission’s Director, Engr. Cany Jobe Taal, won a Leading Woman in African Energy award in London as The Gambia showcased petroleum potential to investors. Business Recognition: Jah Oil/Jah Multi Industries was named Importer of the Year at the 2026 GRA Taxpayers’ Awards for strong compliance and fiscal contribution. Maritime Readiness: Obangame Express (OE26) wrapped up after a major Gulf of Guinea security exercise that included The Gambia, focused on sea crime response and coordination. Regional Integration: The Republic of the Congo announced visa-free entry for all African nationals from January 2027, adding momentum to freer movement across Africa. Food Inflation Pressure: A feature revisited how food inflation at 6.7% is hitting low-income households hardest, calling for deeper food-sovereignty reforms.