We want to assist you with Investing in Guinea-Bissau. Get Business Opportunities in Guinea-Bissau as well as to search for and connect with leading Companies and Investors in Guinea-Bissau. We also provide a list of key Government trade advisors who assist you with doing business in Guinea-Bissau and other relevant business information on Guinea-Bissau. Specifically, we offer three digital portals that are FREE to use and will be of interest to you: the Africa Business Community, Africa Business Opportunities Dashboard and our closed AFSIC African Investments Dashboard.
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Country overview: Guinea-Bissau is located in West Africa bordering the Atlantic Ocean. It shares borders with Guinea to the South East and Senegal to the North. It got its independence from Portugal on 24 September 1973. Its capital is Bissau with 9 Administrative regions. It is a multiparty semi- presidential Republic with President sitting as the Head of State and Prime Minister as the Head of Government. It runs a unicameral national assembly. Its official language is Portuguese while Creole is the lingua franca. Many in the country practices Islam while there are also large population of Christian and Animist. It practices a mixed legal system based on customary law, African Francophone Public law and civil law with some elements of Portuguese law incorporated. It has an area size of 36,125 million sq km.
Demographic Information: Guinea-Bissau has an estimated population of 1.93 million comprising mostly of younger population (less than 25 years) which makes up about 63.6% of the population, those in the age bracket of 25-64 years makes up about 33.4% of the population and above 65 years age group makes up about 3.0% of the population. Average population density is estimated at 70 inhabitants/km2. In terms of human development indicators, it has a life expectancy of 65.1 years (Women) and 60.6 years (Men). It achieved universal primary education with a 118.69% Primary enrolment rate in 2010 and overall literacy level of 59.9% as at 2015.
Broad Economic Overview: Guinea-Bissau economy mainly relies on subsistence agriculture (cashew nuts export) and foreign assistance, which normally accounts for approximately 80% of its budget. Cashew nuts account for almost 70% of employment and more than 90% of exports. Guinea-Bissau has deposits of untapped mineral resources which include phosphates, bauxite, and mineral sands. It recently began offshore oil and gas exploration. The country’s climate and soil make it feasible to grow a wide range of cash crops, fruit, vegetables, and tubers. The country continues to struggle in curtailing illegal logging and trafficking in narcotics from Latin American. Real GDP expanded 4.5% in 2019 having recorded 4.6% compounded annual GDP growth in the past 5 years. Political instability continues to hinder growth having attained some stability in 2014, which saw a democratically elected President José Mario Vaz, its 2019 Presidential election was stalemated with ECOWAS currently attempting a mediation to settle the crisis. Guinea-Bissau’s currency is CFA franc pegged to Euro. Main exports include cashew, peanut, shrimp, fish, palm kernel, lumber etc. Major imports include petroleum products, transport equipment, Foodstuff, machinery etc.
Investment Opportunities: Guinea-Bissau’s government offers various incentives to promote investment amongst which are potential for 50% tax reduction for six-year period and unrestricted repatriation of profits. The Government’s priority is to increase foreign investment in the agriculture and energy sectors, which are two key drivers of the economy. Many opportunities are available in the agriculture sector. Having a large expanse of undeveloped land combined with the prevalence of traditional farming techniques means that modernization can have major impact on productivity. The country’s stretch of Atlantic coast and natural beauty offers potential investment in tourism (notably in the Bijagos Islands). Investment opportunities are available in the following sectors telecommunications, energy, construction and development, manufacturing, livestock, fisheries, agribusiness and agro processing, tourism etc.
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BBC Africa: www.bbc.co.uk/news/world/africa
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