[Gambia] Commercial banks ordered to replace non-citizen workers with nationals

The Central Bank of The Gambia (CBG) has directed the nation’s commercial banks, including subsidiaries of major Nigerian lenders, to phase out non-Gambian employees who are not covered by approved expat quotas and replace them with qualified Gambian nationals, The Whistler reports.

CBG has set a year-end deadline for compliance. The directive affects banks including FirstBank, Access Bank, Zenith Bank, Ecobank and Guaranty Trust Bank.

The regulator reportedly stated that the affected banks must phase in the replacement process, while putting in place succession arrangements, transferring skills and knowledge to Gambian employees and ensuring that the transition does not disrupt banking operations.

The CBG outlined its position in a letter addressed to managing directors of commercial banks operating in The Gambia and signed by its Second Deputy Governor, Ousman Mendy.

The regulator stated that the directive followed discussions with bank managing directors in August over the employment of non-Gambian workers in the country’s banking sector.

In an industry-wide study subsequently conducted by the CBG, it found a relatively high number of non-Gambian employees working in banks in addition to workers formally recognised as expatriate staff.

It said this practice was inconsistent with provisions of The Gambia’s Labour Act 2023 and Guideline 9 governing the employment of expatriate personnel in the banking industry.

The CBG said banks must ensure full compliance with the country’s labour laws and its guidelines on expatriate employment.

It said, “A recent industry study conducted by the Bank revealed that a relatively high number of non-Gambians are employed by banks, in addition to recognised expatriate staff,” and added that the practice was in violation of provisions of the Labour Act 2023 and was not in line with Guideline 9 on expatriate staff.

Under the new directive, banks are expected to identify qualified Gambian nationals who can progressively take over positions currently occupied by non-Gambian workers outside approved expatriate arrangements.

In addition, the CBG reportedly instructed lenders to establish clear succession plans and ensure effective transfer of skills and institutional knowledge as the localisation process takes place.

Source: The Whistler

The Central Bank of The Gambia (CBG) has directed the nation’s commercial banks, including subsidiaries of major Nigerian lenders, to phase out non-Gambian employees who are not covered by approved expat quotas and replace them with qualified Gambian nationals, The Whistler reports.

CBG has set a year-end deadline for compliance. The directive affects banks including FirstBank, Access Bank, Zenith Bank, Ecobank and Guaranty Trust Bank.

The regulator reportedly stated that the affected banks must phase in the replacement process, while putting in place succession arrangements, transferring skills and knowledge to Gambian employees and ensuring that the transition does not disrupt banking operations.

The CBG outlined its position in a letter addressed to managing directors of commercial banks operating in The Gambia and signed by its Second Deputy Governor, Ousman Mendy.

The regulator stated that the directive followed discussions with bank managing directors in August over the employment of non-Gambian workers in the country’s banking sector.

In an industry-wide study subsequently conducted by the CBG, it found a relatively high number of non-Gambian employees working in banks in addition to workers formally recognised as expatriate staff.

It said this practice was inconsistent with provisions of The Gambia’s Labour Act 2023 and Guideline 9 governing the employment of expatriate personnel in the banking industry.

The CBG said banks must ensure full compliance with the country’s labour laws and its guidelines on expatriate employment.

It said, “A recent industry study conducted by the Bank revealed that a relatively high number of non-Gambians are employed by banks, in addition to recognised expatriate staff,” and added that the practice was in violation of provisions of the Labour Act 2023 and was not in line with Guideline 9 on expatriate staff.

Under the new directive, banks are expected to identify qualified Gambian nationals who can progressively take over positions currently occupied by non-Gambian workers outside approved expatriate arrangements.

In addition, the CBG reportedly instructed lenders to establish clear succession plans and ensure effective transfer of skills and institutional knowledge as the localisation process takes place.

Source: The Whistler