We want to assist you find Business Opportunities in Senegal as well as to search for and connect with leading Companies in Senegal. We also provide a list of key Government trade advisors who assist you with doing business in Senegal and other relevant business information on Senegal. Specifically we offer three digital portals that are FREE to use and will be of interest to you…..You can join our Africa Business Community FREE so we can promote your company here. After that if you have a specific investment or business proposition add it to the Africa Business Opportunities Dashboard FREE. Want investment, or to find a business partner, are you selling real estate etc, do you have goods, products or services you want to promote? If so our Africa Business Opportunities Dashboard is for you. View some of the business opportunities uploaded by our Africa Business Community here. Fast growing, more established Senegal companies with experienced management teams looking for investment can add themselves to our closed AFSIC African Investments Dashboard – after you have uploaded information about your investment opportunity we can send it directly into the inbox of many of Africa’s most important investors. To benefit from any of these options join our Africa Business Community today FREE !
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Country overview: Senegal is located in West Africa bordering the north Atlantic Ocean. It shares borders with Mali to the east, Guinea Bissau to the south west, Guinea to the south east and Mauritania to the north. It gained its independence from France on 4 April 1960. Its capital is Dakar with 14 Administrative regions. It is a Presidential Republic with the President sitting as the Head of State and the Head of Government. It runs a unicameral legislative system, and its official language is French. It is predominantly moslem with very few Christians and it practices a civil law legal system based on French civil code. It has an area size of 196,722 sq km. Senegal has a strong track record of political stability and it’s making progress in terms of the business environment and governance. The country is the second largest economy in Francophone West Africa behind Côte d’Ivoire.
Demographic Information: Senegal has an estimated population of 15.74 million comprising mostly of younger population (less than 25 years) which makes up about 60.7% of the population, those in the age bracket of 25-64 years makes up about 36.2% of the population and above 65 years age group makes up about 3.1% of the population. Average population density is estimated at 82.4 inhabitants/km2. In terms of human development indicators, it has a life expectancy of 65.4 years (Women) and 61.1years (Men). It achieved universal primary education with an 82.07% Primary enrolment rate in 2019 and overall literacy level of 51.9% as at 2017.
Broad Economic Overview: Senegal is dependent on mining, tourism, and agriculture. It is rich in minerals, especially phosphates and iron ore. It is one of the world’s leading phosphate producers, and has significant deposits of zirconium, titanium, marble, gold, and limestone, as well as several types of precious stones. As part of the dominant portion of the economy, agriculture is estimated to contribute about 16.6% of GDP and employs about 32% of the country’s workforce. Fishing is also an important source of revenue. Recent findings of oil and gas could see Senegal’s energy sector enter a new area and impact the structure of Senegal’s economy. Recoverable reserves of oil are estimated between 350 and 500 million barrels. This corresponds to more than 65 000 barrels of oil per day. Gas reserves are estimated at about 590 billion cubic meters. Real GDP expanded 6.4% & 5.3% in 2018 & 2019 respectively having recorded 6.5% compounded annual GDP growth in the past 5 years. Senegal currency is CFA franc pegged to Euro. Main export includes phosphate, cotton, peanuts, fish, petroleum products etc. Major imports include Fuel, foodstuffs, and capital equipment.
Investment Opportunities: Senegal has put in place a series of economic reforms as part of the Emerging Senegal Plan (ESP) adopted in 2014 to accelerate progress towards becoming an emerging economy by 2035. The plan which represents more than US$ 7billion in funding commitments focuses on four key sectors to unlock inclusive growth, including energy, agriculture and land, ICT and transport. The government is focusing on infrastructure projects to reduce transaction costs, setting up the country to become a regional business hub for logistics, services, and industry. Investments in the country’s Sangomar offshore oil field and the Grand Tortue Ahmeyim gas field is expected to boost activities in oil and gas industry and contribute to the economy. Investment opportunities are available in the following sectors: infrastructure and transport services, agriculture, education, tourism, mining, energy, water and sanitation, health, energy, ICT etc.
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Other Information Sources for Business Opportunities in Senegal
Unable to find the information that you require on Business Opportunities in Senegal? You may want to access the following internet sites to obtain further information on Africa, investing in Africa, African business and African investment opportunities….
African Development Bank: www.afdb.org
African Investments: www.africaninvestments.co
AFSIC – Investing in Africa Event: www.afsic.net
BBC Africa: www.bbc.co.uk/news/world/africa
Investing in Africa: www.invest-in-africa.co
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Our team has enormous experience living, working and investing in Africa. We have a comprehensive view on investment opportunities in Africa and Africa’s most important investors and we cover all 54 countries in Africa. As such we should be able to assist you on your query on Business Opportunities in Senegal. Our experience is evidenced by the success of our annual AFSIC – Investing in Africa event which we believe is the largest annual Africa investment event taking place outside Africa, and one of the most important conduits of investment into Africa. More information on us and our team is available here.