00:00The total remittances through formal channels reached approximately $872 million in 2025.
00:15These inflows marked a substantial increase of $54.42 million compared to 2024 figures.
00:25The remittances accounted for over 30% of the nation's gross domestic product, underscoring their status as a cornerstone of economic stability and national development.
00:38I extend warm appreciation to the Gambian diaspora.
00:42Their commitment is a powerful force for economic growth and resilience.
00:46In an era of global uncertainty, remittance flows have demonstrated remarkable stability, serving as a reliable source of foreign exchange for the country.
00:59Growing up, many of us heard that agriculture is the backbone of economies, followed closely by tourism.
01:06Few would have imagined that one day remittances would compete these traditional pillars.
01:11Not anymore.
01:11This is not unique to the Gambia.
01:14Similar trends are unfolding across parts of Africa.
01:18But for a smallest African nation on the Atlantic coast, almost entirely surrounded by Senegal, and with a population nearing 3 million, the scale of remittances is striking.
01:31Jibril Fow, director of GK Partners and visiting professor at LSE, explains why money sent by the country's 8th region has become a strong and reliable source of income.
01:44In Africa, according to the World Bank, Gambia is the country that's most dependent on remittances.
01:51So, in a way, it's even more important than agriculture and tourism.
01:56Diaspora remittances in economics is described as being counter-cyclical.
02:02That is, they're constant in nature.
02:04And why is that?
02:05Because it's support to family, friends and community.
02:08And the members of the diaspora never give off that duty and responsibility.
02:13These remittances, accounting for over 30% of the country's gross domestic product, are sent to households and businesses across the country.
02:23For Sena Bujain, a 65-year-old retired nurse, money sent home by her two children abroad sustains the family covering daily needs.
02:33The money I received from the kids, praise be to Allah, it is very, very helpful to us.
02:40We eat from it, pay rent and buy all the things needed for the house.
02:44Now, praise be to Allah, it is not like before, when we used to struggle.
02:49You know, the Gambian salary is from hand to mouth.
02:52If the money stops coming, it will be catastrophic because we depend on it.
02:56You know, the Gambian salary is from hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand, hand to hand to hand to hand to hand to hand to hand to hand to hand to hand to hand, hand to hand to hand to hand to hand.
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