Gambiaj.com – (BANJUL, THE GAMBIA) – Gambian diplomat Momodou M. Mbenga has been elected chair of the World Trade Organization’s Committee on Trade in Financial Services, placing him at the head of discussions on cross-border digital payments, remittance costs and access to finance for small businesses.
Mbenga was elected the 31st chair of the committee on October 8, 2026, in a development that highlights The Gambia’s participation in international trade diplomacy at a time when digital technologies are reshaping the global financial services sector.
In a statement following his election, Mbenga said he was honored by the confidence placed in him by WTO members and acknowledged the support of The Gambia’s Permanent Representative to the WTO, Ambassador Professor Muhammadou M.O. Kah, and colleagues at the country’s mission in Geneva.
“The Committee’s ongoing work addresses issues that matter to people and businesses, including cross-border digital payments, reducing remittance costs, and improving access to finance for women-led micro, small and medium-sized enterprises,” Mbenga said.
He pledged to work with WTO members in a constructive and inclusive spirit to advance the committee’s discussions.
Focus On Digital Payments And Remittances
The committee’s work has direct relevance to The Gambia, where remittances, access to financial services and the expansion of digital payment systems are important to households and businesses.
Reducing the cost of sending money across borders could help Gambian families who depend on transfers from relatives abroad, while more accessible digital financial services could create opportunities for small businesses, particularly those owned by women.
The committee also provides a forum for WTO members to discuss international trade in financial services, including the regulatory and policy issues affecting the movement of such services across borders.
Its mandate stems from the Decision on Institutional Arrangements for the General Agreement on Trade in Services, adopted by the WTO Council for Trade in Services on March 1, 1995.
The committee operates within the WTO framework alongside international organisations with regular observer status, including the International Monetary Fund, the World Bank, the United Nations, the Organisation for Economic Co-operation and Development, and the United Nations Conference on Trade and Development.
Significance For The Gambia
Mbenga’s election comes as artificial intelligence and other digital technologies transform how financial and other services are produced, delivered and traded internationally.
For developing economies such as The Gambia, these changes raise questions about access to technology, regulatory capacity, financial inclusion and the ability of domestic businesses to compete in an increasingly digital global economy.
The General Agreement on Trade in Services, which provides the multilateral framework for international trade in services, is therefore an important platform for negotiations affecting developing countries’ participation in the global services economy.
Mbenga’s chairmanship offers The Gambia an opportunity to contribute to discussions on these issues within the WTO, although the position does not in itself guarantee particular policy outcomes for the country.
His election also brings international attention to Gambian representation in multilateral trade institutions, where decisions and discussions can influence the policy environment in which developing economies seek to expand their participation in global markets.
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