Tourism MSMEs receive over US$1M in grant to expand economic opportunities in tourism sector

The Government of The Gambia, in partnership with the World Bank, yesterday awarded matching grants totaling US$1,235,641 to beneficiaries of the third cohort of the Yokuté Accelerator Program, while officially launching its fourth cohort to strengthen local businesses and expand economic opportunities in the tourism sector. The ceremony, held under the Tourism Diversification and Resilience in The Gambia Project (TDRGP), celebrated the graduation of 60 micro, small and medium-sized enterprises (MSMEs) following six months of training, mentorship and business development support at the Sir Dawda Kairaba Jawara Conference Center (SDKJCC). The Yokuté Accelerator is implemented under the TDRGP, funded by the World Bank through the International Development Association (IDA). The 3 - 5-year intervention aims to build the capacity of more than 200 tourism-related MSMEs.

The program provides training, coaching, mentorship, investment-readiness support and access to matching grants to help enterprises grow and establish stronger commercial partnerships within the tourism sector. Tourism, Arts and Culture Minister Abdoulie Jobe said 40 per cent of the third cohort comprised women-owned or women-managed businesses, highlighting the program’s contribution to women’s economic empowerment and inclusive growth. The fourth cohort comprises nearly 40 MSMEs and will benefit from similar capacity-building support aimed at improving business management, investment readiness and commercial relationships within the tourism value chain. Speaking at the ceremony, Jobe commended the World Bank Group and the International Development Association (IDA) for financing the project, saying the initiative was equipping local entrepreneurs with the skills, management capacity and financing needed to…