© Oxford Business Group's series of publications are renowned as the leading source of economic information for nearly 30 countries across The Middle East, Africa, Asia, Eastern Europe and the Caribbean.

Situated at the crossroads of West Africa and the Maghreb, Senegal is home to a diverse mix of cultures and ethnicities, and its location has allowed the country to position itself as a gateway to Western Africa. While its development was dominated by agricultural production, both the state and the private sector are now capitalising on both the country’s unique geographic location and its stable political situation. These factors are enabling Senegal to position itself as a primary point of entry for goods into the region, and as a platform for regional growth.

ISBN: 9781902339214
ISSN (Online): 1756-2945
ISSN (Print): 1756-2937

TABLE OF CONTENTS

COUNTRY PROFILE

This section provides an overview of the country, its population, languages, natural resources, geography, climate, religion and history.

POLITICS

Senegal’s political stability has given it significant clout among its sometimes less-than-peaceful neighbours in West Africa and it boasts an influence that far outweighs its size. The president, Abdoulaye Wade, had been the leader of the main opposition for 22 years before gaining power in 2000. His election victory put an end to four decades of Socialist Party rule and he was re-elected in 2007 after gaining 56% of the vote in the first round of polling. Wade has maintained top-level contacts with the West, China and the Islamic world, hosting Nicholas Sarkozy and the Organisation of the Islamic Conference (OIC) in recent years. Preparations for the OIC included a number of new infrastructure projects, such as the construction of a four-lane highway from the airport and new hotels, but strained public finances. As oil and rice prices rose last summer and remittances from Senegalese abroad dropped, the government struggled to repay debts. The population expressed its frustration with the ruling party in the March 2009 local elections, when President Wade’s Senegalese Democratic Party and its coalition, Sopi, fared poorly in most parts of the country. Although the government has maintained there is a difference between the local elections and the overall standing of the government, President Wade instituted a major cabinet reshuffle at the end of April 2009 to inject fresh blood into the administration and improve the party’s chances prior to the next presidential election in 2012. A resurgence in the fortune of the Sopi coalition will depend in part on the success that President Wade’s son, Karim Wade, enjoys in the vast, yet key, ministerial responsibilities he has taken on. If the country can benefit from the recovery of the global economy, the international contacts that President Wade has cultivated during his years in office, combined with his carefully managed domestic policy, should boost the ruling coalition’s standing.

This chapter provides a viewpoint by President Abdoulaye Wade on the country’s policy priorities.

THE ECONOMY

In 2006 and 2007 surging commodities prices had a profound impact on the Senegalese economy, but the global financial crisis has brought them down to a more manageable level. Although foreign aid will likely decline in 2009, the declining bill for food and energy should help offset the losses. Senegal’s GDP was expected to grow at a pace faster than 5% in 2008 but once the final numbers are in, GDP growth may be revised downward to 3.9%, according to the IMF. The fund cited higher import costs for food and fuel, subsidies introduced to help people manage and the government’s accumulation of a mounting stack of unpaid bills. The cost of mitigating the external shocks left the government short on funds to pay contractors, and some ministries and quasi-state agencies are spending beyond their budgets. However, international funding sources have been found. The IMF predicts that if the debt is paid off, the economy will grow 5.5% a year from 2009 to 2013. For growth to occur, the government has to tackle a number of issues, ranging from the prominence of the informal economy to the heavy reliance on agriculture imports. The Great Offensive for Food and Abundance (Grande Offensive pour la Nourriture et l’abondance, GOANA) aims to eliminate the need for food imports by 2015 by improving efficiency and infrastructure. Launched in spring 2008 the government has already heralded larger harvest yields as a sign of its effectiveness, although more rain has certainly contributed. As the country strives to control its spending, rehabilitating its reputation for good governance is high on the priority list, to regain investor and donor confidence. In addition to a one year $75.6m loan from the IMF, France has agreed to lend Senegal $161m. Though growth above 6% may be an ambitious expectation, by following the government’s policy plan, by boosting agricultural output, and by continuing to pursue infrastructure improvements, Senegal is poised to continue its strong development.

This chapter provides interviews with Abdoulaye Diop, Senior Minister, Ministry of Economy and Finance; Aminata Niane Director-General, National Agency for the Promotion of Investment and Public Works (APIX); and Lakshmi Mittal, CEO, ArcelorMittal. Jeffrey Sachs, Director, Earth Institute at Columbia University, provides a viewpoint on the formulation of a new deal for poor farmers.

UEMOA

The region’s integration has moved in fits and starts but the West African Economic and Monetary Union (Union Economique et Monétaire Ouest Africain, UEMOA) remains one of the most powerful examples of cooperation among emerging economies. Indeed the regional free trade zone benefits from a common currency and recently welcomed the world’s first regional stock exchange. As the closest member state to Europe, the bloc’s main trading partner, Senegal is positioning itself as the gateway to the West African region. Financial Integration within the union is taking time, though competition, particularly in the banking sector, is moving ever-increasingly to the regional level. The UEMOA’s individual member states represent small markets in terms of both numbers of consumers and value of goods traded, and so the union is a significantly more attractive investment opportunity for developers. Meanwhile, sectoral policies are driving integration forward, with the aim of reducing transport costs and ensuring the emergence of a regional electricity market. Additionally, the union is working to draft an agreement with the EU to remove Customs taxes and tariffs on trade within the region, which would greatly increase trade between the groups. While harmonisation has thus far been a slow process, the UEMOA has the potential to stimulate growth and investment for its member states, and Senegal certainly stands to reap the benefits.

This chapter provides interviews with Soumaïla Cissé, President of the Commission, West African Economic and Monetary Union (UEMOA), and Abdoulaye Bio-Tchane, President, West African Development Bank.

BANKING

Although relatively few Senegalese use banking services, the country has emerged as a big player in the region, in no small part because of its participation in a regional body that banks from across Europe and Africa are looking to enter. The West African Economic and Monetary Union (Union Économique et Monétaire Ouest-Africaine, UEMOA) includes, along with Senegal, the countries of Guinea-Bissau, Mali, Benin, Togo, Côte d’Ivoire, Burkina Faso and Niger. All use a common currency, the African Financial Community (Communauté Financière Africaine, CFA) franc. Member states retain their own finance ministries, but work together to create regional policy. Senegal is one of the powerhouses of the UEMOA zone, with 25% of banking assets concentrated there, and the country’s banks accounting for about a third of regional profits. The robust banking sector is reflected in the relatively lower interest rates that are found in Senegal: the average is about 11.4% across all products, compared with 12.5% for the region. Credit in Senegal adds up to just 17% of GDP, and while that is low according to global standards, it is good for West Africa. The ratio of deposits to GDP is 34%, over double the UEMOA average. Profits for the Senegalese banking sector reached CFA146bn ($340.18m) in 2007, the most recent date for which figures were available, up 9% from 2006. At present the penetration rate for banking products is just 6%, but the UEMOA has ambitious plans to raise the penetration rate regionally to 20% by 2014.

This chapter provides an interview with Abdelkrim Raghni, General Manager, CBAO, Group Attijariwafa Bank.

CAPITAL MARKETS

With just one publicly traded company in the country, Senegal lacks enough securities options to open its own exchange. As with other financial services sectors in its economy, the country has cast its lot with other neighbouring states to create a regional solution to this problem. Senegal is one of eight member countries in the Regional Securities Exchange (Bourse Régionale des Valeurs Mobilières, BRVM). The BRVM is the first and only regional stock market in Africa. It is located in Abidjan, Côte d’Ivoire, and 34 of its 38 listings are Ivorian companies. No other member country hosts more than one publicly traded company, and some have none. Senegal’s one contribution is the bourse’s largest and most important stock: telecommunications provider Sonatel. While the BRVM’s trading volume in 2008 surged almost five-fold, jumping from 11m in 2007 to 44m shares and the value of the trades jumped from CFA87bn ($202.7m) to CFA247bn ($575.5m), the bourse’s growth has still been relatively slow. The BRVM’s market capitalisation in early 2008 was equal to 11.5% of GDP for its members. In comparison, Nigeria’s bourse, the Nigerian Stock Exchange, had a market capitalisation equal to 28.6% of Nigeria’s GDP, while the Nairobi Stock Exchange was capitalised at a rate of 53.7% of Kenya’s GDP. A number of factors may be contributing to the BRVM’s lag behind regional exchanges. Most significantly, the lack of large-capitalisation companies is a discouragement to investors and the resulting light trading on the BRVM is a poor enticement to companies that may list. To help stimulate growth, there has been talk of further regionalisation, but support is more likely to come from governments privatising state agencies through initial public offerings (IPOs), such as Senegal’s floating of a 25% stake in Sonatel in December 1997. Senegal’s government does not lack for candidates for privatisation. Three public holdings were expected to be privatised in 2008 but while this did not come to fruition, other possibilities abound, including the state oil refinery and a phosphates producer. While continued economic growth in the region will help the BRVM, government privatisations would provide a major boost.

This chapter provides interviews with Jean-Paul Gillet, Director General, Bourse Régionale des Valeurs Mobilière, and Gabriel Fal, CEO, CGF Bourse.

INSURANCE

For the time being, insurance remains beyond the grasp of most Senegalese citizens, and the country’s per-capita spending is far below the average for Africa. Yet there are catalysts for growth in the national insurance market, for both life and non-life segments. The life segment has been responsible for most of the insurance growth this decade, due largely to a change in tax laws in 2002 that increased incentives for life products. However, life insurance firms are pushing for further reform to encourage or even require those who can afford it to take up policies and pensions. There are six life insurance companies and 16 that provide non-life insurance, all of which are represented by the Senegalese Federation of Insurance Companies (Federation Sénégalaise des Sociétés d’Assurance, FSSA). In total, insurers brought in CFA72.06bn ($167.9m) in revenue in 2007, up 11.3% from an aggregate CFA58.48bn ($150.8m) in 2006. The non-life segment accounted for 81.1% of the revenue. Still, insurance has yet to assert itself as a mainstay of the financial services market: total insurance revenue in Senegal represents about 1.4% of GDP, whereas the average for Africa as a whole is 4.8%. Penetration rates remain low, primarily due to the low per-capita income in the country and a reluctance to pay premiums. Another obstacle to the development of the industry is the relatively high tariff structure applied by the Inter-African Conference on Insurance Markets (Conférence Interafricaine des Marches d’Assurance, CIMA), a supranational body that governs the insurance sector in 16 countries. Senegal is the third-largest insurance market among CIMA member states, after the Côte d’Ivoire and Cameroon. Whereas in France administrative fees account for around 9% of total retail cost, the average fees in the CIMA zone reach 32%. It is hoped that the development of bancassurance will be able to reduce these costs somewhat, by lowering the overheads involved in building distribution networks. While region-wide reforms at the CIMA level would help, the main players in Senegal’s insurance sector are pushing ahead with national-level reforms. The FSSA remains hopeful that revenue for the sector can reach CFA100bn ($233m) by 2010, even as global economic growth slows.

This chapter provides an interview with Alassane Robert Diallo, Director-General, Institution de Prévoyance Retraite du Sénégal.

TRANSPORT

Economic integration trends, both at the regional and global level, have placed a renewed degree of importance on Senegal’s geographic location. As the economies of the West African Economic and Monetary Union (Union Économique et Monétaire Ouest Africaine, UEMOA) zone seek greater commercial integration, the region’s transportation interconnectivity has emerged as a critical component for sustainable growth. During the past five years, Dakar’s transport infrastructure has experienced significant levels of foreign investment and financing to support its growing regional profile. The ongoing improvement of the city’s port facilities under the leadership of Dubai Ports World (DPW) and the construction of a new international airport, which will be run by the German operator Fraport, are some of the most visible signs of this recent activity. Upgrades to public transport and the road network are also under way, with the goal of expanding access to Dakar, which is home to some 75% of Senegal’s commercial activity. One major project for the country is a new road segment between Dakar and Coakry, the capital of Guinea, which has received an investment of $93.2m. Despite the recession, investors are keen to develop the sector and increase integration with Senegal’s neighbours, which means that demand will remain high for expanded infrastructure.

This chapter provides interviews with Modou Khaya, Managing Director, Aéroport International Blaise Diagne, and Bara Sady, CEO, Autonomous Port of Dakar.

ENERGY

Industrial development has been hampered by the fact that the state electricity utility is regularly forced to shut down parts of the power grid, because it cannot afford to pay for the fuel it needs to feed the nation’s power plants. As a result of financial over-commitment, volatile fuel prices and outdated installations, the whole of the sector has found itself in distress. Nearly 40% of Senegal’s energy is produced from imported hydrocarbons, and nearly 60% comes from wood and charcoal. The country has no local oil production and only a small reserve of natural gas, although exploration efforts have been launched to exploit what resources Senegal does have. Preliminary discussions have also taken place with the French government to explore the potential of nuclear energy as a dependable source in the long term. The government is also working to diversify energy sources by expanding its investment in renewables, with several wind projects in development that could eventually provide up to 3% of the country’s electricity needs. Solar energy programmes could eventually provide up to 5% of the nation’s electricity. Upon completion, these projects will provide Senegal with further energy security, while in the short term, the erosion of global oil prices should help to reduce the import bill.

A sharp population increase in recent years and a hike in construction costs and the price of land has brought considerable challenges for property developers, especially regarding the construction of low-cost housing. Not only does the market lack a mortgage system, but the increase in the number of newcomers to Dakar and the devaluation of the CFA franc have meant that accommodation is getting increasingly expensive. The vice-president has called for a parliamentary enquiry into the causes of the recent rent price increases. To the future, it is unlikely that prices will fall any time soon, while demand for luxury housing is likely to remain firm for some years.

This chapter provides an interview with Rogers Beall, Executive Chairman, Fortesa International Senegal.

REAL ESTATE & CONSTRUCTION

Even after a decade of rapid expansion in Dakar, Senegal’s real estate sector still offers potential for growth on all levels. There are a number of demographic drivers that have contributed to increased demand, including the return of expatriates, the emerging middle class, increasing urbanisation and the influx of refugees and aid organisations from the Côte d’Ivoire. A decade ago the breakdown of real estate development costs was 10% land and 90% construction, while today the cost of land reaches 60%, with construction-related spending around 40%. Although seaside areas fetch a premium, new road development has enticed investors towards the peninsula’s interior. The new infrastructure is encouraging businesses to look beyond the Plateau district, which has long been the zone for high-rise office, commercial and residential real estate. New growth will continue along the Northern Distribution Road (Voie de Degagement Nord, VDN), particularly in the middle-market segment, and in areas near the completed highway leading to the new airport in Diass. As these new high-speed road connections come on-line, the geographic scope of the middle- and high-end markets will continue to grow. The country’s ongoing political stability means that Dakar will continue to be an attractive destination for high-end real estate investors seeking a foothold in West Africa.

The government owes over CFA100bn ($233) in bills to the sector, small- and medium-sized enterprises (SMEs) and majors, which has made the purchase of building supplies difficult. Despite this pressure, SMEs and larger contractors have proven their ability to pursue growth regionally, which will further improve their economies of scale in relation to technical and capacity costs. Those companies able to sustain their operations through the current period will likely find themselves in a leadership position for a rejuvenated era of growth in the future. Although the construction industry’s near-term performance will be dampened as the government continues to search for a solution to its arrears dilemma, the future is encouraging for the sector. Current major projects are mostly tied to efforts to improve the country’s infrastructure. Major plans include the Blaise Diagne Airport project, the development of the road network, a new administrative district and new electricity plants.

This chapter provides an interview with Oumar Sow, President, National Syndicate of Building and Public Works Companies.

TELECOMS & IT

Telecoms continues to be Senegal’s most developed sector. Profit growth remains attractive in comparison to other African telecoms markets, and despite a high penetration level, the sector is still growing. In 2007 telecoms contributed CFA440bn ($1.012bn) to the national economy, which represented a 7% share of GDP, with an average annual growth rate of 18% over the past five years, much of it coming from the mobile phone segment. The country’s two telecoms operators Sonatel, known by the brand name Orange, and Senetel, known as Tigo, were joined by a third company, Sudatel, when the company won the tender made in late 2007. Because of France’s equity stake in Sonatel, infrastructure and service offerings are relatively modern and reliable. There is a solid legislative framework for the sector, overseen by the Regulator Agency for Telecomes and Post, (Agence de Régulation des Télécommunications et des Postes, ARTP), which manages competition, the development of new technologies and the management of radio frequencies.

Although the use of information technology is not widespread, there are a number of initiatives that are being made to increase penetration. As costs continue to drop for both services and hardware, the technology is becoming more accessible. The government has made this expansion a priority and a government intranet is being rolled out across the country. IT has been identified as a growth segment under the Accelerated Growth Strategy, and it is expected to contribute more than 7% of overall GDP by 2015. To bolster this growth the government will offer a number of services online, including education, health services and passport services, as well as access to information on local municipalities, tourism, culture, tax collection and automated telephone-based procedures.

This chapter provides an interview with Ihab I Osman, CEO, Expresso Telecom Group, while Ibrahim Youssry, General Manager, Microsoft West and Central Africa, provides a viewpoint on African connectivity.

INDUSTRY

With world demand for some of its major exports flagging, combined with volatile fuel prices and an unreliable domestic energy supply, the Senegalese industrial sector has not been able to move forward quite as fast as expected. To address these issues, planners are encouraging decentralisation and the creation of small and medium-sized enterprises, which will provide sub-contracted services to major companies and projects, as well as offer jobs for the local workforce. Employment remains a central issue, as most of the sectors are now attracting substantial amounts of foreign direct investment, including iron, gold, zircon and energy, and are not particularly labour intensive. Food products are among Senegal’s major exports, including fruits, vegetables, fish, groundnuts, peanuts and tobacco. Pharmaceuticals and textiles exports are also sizeable, and cement and mechanical projects are rapidly gaining attention. ArcelorMittal, the world’s largest steel company, has begun a feasibility study for a steel plant in Senegal, although development may be put on hold as a result of the global recession. Despite the downturn, there are high hopes that the country’s industrial output will rise and new spaces are being sought for development. Dakar itself cannot support any more projects, but the opening of the Dakar Integrated Special Economic Zone (DISEZ) by Jafza International just outside the capital should help alleviate some of the shortages. Current plans are for the initial development of DISEZ to take place in four 150-ha phases, with FDI for each phase estimated at $200m. The first facilities should be operational by 2010. The government is hoping that although investment may be depressed in the short term, its preparations will make it more attractive when the recession stabilises.

MINING

While mining currently accounts for a small portion of Senegal’s GDP, new exploration techniques, increased foreign investment and the construction of a new industrial transport infrastructure are expected to capitalise on underexploited minerals. The country is one of the world’s leading phosphate producers, with total reserves estimated to be more than 40m tonnes, but there are a number of other segments that have begun to take off, particularly gold, iron and zircon. A new greenfield project will increase iron production from 15m to 25m tonnes a year beginning in 2011. The project also includes the construction of a 750-km railway to transport the ore to the coast, electricity power production for the installations and a new deep-water port at Bargny along the coast, near Dakar. Zircon production is also ramping up and with global demand expected to reach 1.4m tonnes a year by 2010, Senegal is seeking to produce 25% of European demand and about 8% of the global need. Other exploration projects include those for uranium, lithium and tin. Once the requisite infrastructure has been upgraded, these resources will be ripe for development, and multinationals such as ArcelorMittal have already begun to express interest in the sector.

This chapter provides an interview with Peter Spivey, Chief Operating Officer, Senegal, Mineral Deposits Limited.

EDUCATION & HEALTH

Senegal has made significant progress in expanding access to education. While poor retention rates and regional disparities remain problematic, the adult literacy rate is on the rise and primary school enrolment is improving. The government allocates around 40% of the state budget to education, equivalent to about 4% of GDP, but the system is struggling with overcrowding. To fill the gap, particularly in higher education, private establishments are rapidly emerging. In addition to easing the crowds in the public system, the new schools offer professors with links to the business world and are considered increasingly able to adapt to the needs of the job market, more so than their peer institutions. Private universities are also expanding efforts to reverse Senegal’s brain drain, including the initiation of programmes to bring international students to study in Dakar. While these schools may be the key to reducing the strain on the overburdened public system, they need more support and regulation from the state to ensure quality and standardisation.

While access to health care is also improving, much progress is needed for Senegal to meet its health-related Millennium Development Goals by 2015. Though decentralisation of health care has expanded access, many Senegalese still do not receive quality primary care, with access drastically reduced in rural areas. A certain number of national programmes have been launched to target specific public health issues, including HIV/AIDS and malaria, hospital-originated disease, and family-planning. Unfortunately, the health care system lacks sufficient financing to address the broad needs of the population. The country also lacks medical staff, with one doctor per 14,000 inhabitants, compared to the one per 5000-10,000 inhabitants prescribed by WHO standards. Private care is taking an increasingly important role to relieve the overburdened public sector, but it is still mostly concentrated around the capital. For the sector to expand its coverage, external funding will be vital.

This chapter provides an interview with Amadou Diaw, President, Institut Supérieur de Management.

TOURISM

As the country’s second-largest foreign-currency earner and a key employment generator, tourism makes a vital contribution to the Senegalese economy. The industry contributes 4.6% of the country’s overall GDP and accounts for 6.3% of total employment. Though the sector has long been driven by sun, sea and sand packages it is currently losing out to cheaper resort destinations that have gained momentum from the advent of low-cost airlines. Furthermore, other African markets with more diversified products and powerful marketing campaigns are upstaging Senegal. To regain lost market share and increase revenue, the government has made tourism a central pillar of the Accelerated Growth Strategy (Stratégie de Croissance Accélérée, SCA). The plan aims to make tourism Seengal’s chief foreign-currency earner by 2010 and will modernise existing infrastructure, expand and diversify the industry’s offerings, and ramp up its marketing campaigns to attract visitors from new markets. Diversification efforts are focusing on cultural and ecotourism, as Senegal is home to several UNESCO World Heritage sites as well as an array of nature parks and animal reserves. To market these areas, international promotion through the media, internet and tour operators will be essential. Equally important is improved access, through increased domestic and international flights. To meet the projected rise in air traffic, construction of the Blaise Diagne International Airport will be completed in 2011. While attracting new visitors and securing the necessary financing may be difficult because of the global economic crisis, the diversification plan will eventually have a great number of positive knock-on effects for the sector, including the development of local human resources, promotion of socio-economic growth, the modernisation of transport infrastructure and increased foreign direct investment.

MEDIA & ADVERTISING

As television and print media are hard to deliver in the country’s rural areas, radio is the medium of choice for much of the population outside cities. Still, while print media is primarily concentrated in Dakar, it is lively and diverse, boasting a readership of about 150,000. Despite its popularity, the print sector has grappled with a few challenges in recent years. The government has been accused of withholding information and some of the news organisations have failed to adhere to standards of professional journalism. But both sides are working to improve the relationship: the state is working on a new press law and in May 2009 a group of established journalists founded an ethics committee in an effort to uphold professional standards, register new publications and deal with complaints. The self-regulating Observation Committee for Ethical Rules and Deontology in the Media (CORED) should restore the sector’s credibility and improve standards across the board.

Overall advertising spending nearly doubled between mid-2006 and mid-2008, bringing the current total to CFA10bn-12bn ($23.3m-27.8m). There are perhaps as many as 200 companies that consider themselves to be, at least in part, advertising agencies, although the reality is that perhaps only half a dozen are worthy of the title. In recent years the top-10 advertisers have usually accounted for nearly half of the total spend. Advertising is split fairly evenly between print media, radio and TV, although print media has been losing ground in recent years. Advertising rakes in the vast majority of its income – around 98% – from private sector companies, with the biggest spenders coming from the telecoms sector. The agro-alimentary industry comes in second, accounting for a significant chunk of local advertising thanks to activity from brands like Coca-Cola, Maggi and Nestlé. For the time being, the sector will likely remain limited to its traditional forms of advertising, as new forms, such as digital and online content, require more reliable electricity than is currently available. However, the replacement of expatriate creative talent as the local labour force gains both experience and confidence is imminent.

This chapter provides a roundtable with Issa Sall, Editor-in-Chief, Nouvel Horizon and Baye Dame Wade, Editor-in-Chief, Réussir.

AGRICULTURE

Senegal’s agriculture sector is in transition mode. It is shifting from traditional practices, based on fishing and cash crop exports to a more diversified sector. It is the cornerstone of the economy, contributing 15% of GDP and employing 70% of the population. Despite its potential, the sector is vulnerable to fluctuating seasonal conditions and food security continues to be an issue, especially as Senegal remains heavily reliant on imports, leaving it susceptible to rising food prices on the global market. To deal with these challenges the country has focused on increasing production, especially in cereals, dairy and meat, and diversifying its offerings from cash crops such as groundnuts, peanut oil and cotton. To implement the changes, the Ministry of Agriculture received 5% of the national budget in 2008, a 16% increase over 2007. The extra attention was important as inadequate rainfall in 2006 resulted in poor harvests and food scarcity in 2007 and 2008. Following food riots in April 2008, the government launched the Great Agricultural Offensive for Food and Abundance (Grande Offensive Pour la Nourriture et l’Abondance, GOANA), which aims to raise food production and reduce imports. The programme is set to increase grain, meat and milk production through expanding the areas under cultivation and providing farmers with seeds and equipment. The modernised system is also altering the sector’s structure by encouraging decentralisation and the creation of local associations and networks. Greater participation of private business is also encouraged, while the sector overall is beginning to take on emerging opportunities both domestically and internationally.

This chapter provides an interview with Hamath Sall, Minister of Agriculture.

BUSINESS GUIDE

In conjunction with CICE Senegal, OBG explores the taxation system, examining the environment for investors. The accountancy section provides a viewpoint from Mansour Gaye, Senior Partner, CICE Senegal. OBG also introduces the reader to the different aspects of the legal system in Senegal, in partnership with SCP François Sarr & Associates. The legal coverage provides a viewpoint with Moustapha Faye, Trial Lawyer, SCP François Sarr & Associates.

THE GUIDE

This section includes a look at the work of local architect Pierre Goudiaby Atepa, Dakar’s night life and a new DNA-testing facility, followed by hotel, government and other listings, alongside useful tips for visitors on topics like currency, visas, language, communications, dress, business hours and electricity.

Order print report