Why is it worth investing in Senegal?

Senegal is the gate to over 100 million market of eight states of the West African Economic Union, with the same currency and the free trade zone. Senegal is one of the fast developing democratic states of Africa, with the GDP growth reaching about 4.7 per cent. Agriculture and fisheries are still the dominating sectors of economy, providing employment to 2/3 inhabitants of the country. However, the last decade has brought significant development of industry, due to implementation of the governmental investment programme, mainly in the energy and infrastructural sector.

• Strategic geographical position (western coast of the continent, 6 hours flight to New York and 5 hours flight to the largest cities of Europe).
• Competitive manufacturing costs as compared to the SSA region.
• Cheap and qualified labour force.
• Healthy and competitive economy (forecasted stable economic growth – 3.2% in 2012, moderate inflation (ab. 2.5% in 2012), low debt rate (public debt – ab. 5% GDP in 2012)).
• Reforms in legal and tax regulations introduced systematically since 2008.
• Privileged access to regional and international markets (70 million consumers in the West African Economic and Currency Union, comprising Senegal).
• Support of international financial institutions through reduction of debt.
• Currency stability supported by the membership in the West African Economic and Currency Union.
• Lack of limitations in 100% holding of shares by foreign investors in the majority of sectors.

Infrastructure

• The ability of Senegal to move goods and connect producers with consumers from international markets is the highest in West Africa.
• The existing road network of 18,063 km (including approximately 40% constituting hardened roads, International Road Federation, 2011) is sufficient to provide for regional, national and international connections
• Senegal has three international airports: Dakar, Saint Louis and Ziguinchor. The airports provide services of the majority of the large airlines, including direct flights to capitals of both Americas, Europe, Asia and Middle East
• Harbour infrastructure: 6 days to Europe and 7 days from America by sea. The Dakar port provides service to almost 90% of foreign trade of Senegal.
• The existing 1060 km of railway lines offer the possibility to carry goods and raw materials, in particular, in the direction of Mali (Dakar-Bamako line), which provides access to almost all sub-region of West Africa.