Country profile Senegal

Number of Dutch companies active: 20+
Population: 17 Million
Area: 196,722 km² (4.7 times the size of the Netherlands)
GDP growth: 5,2% (2019) | 0.9% (2020)
Head of state: President Macky Sall

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NABC and Senegal

NABC organised a webinar about doing business in Senegal on June 25th, 2020. The recording is available via our YouTube channel.

Energy Masterclass

In April 2019 NABC accompanied 4 Dutch companies in the Oil and Gas Sector (Heerema, Boskalis, Fugro and WTS Energy) for an Energy Masterclass in Dakar, Senegal. The Masterclass was organized in collaboration with the Institut National du Pétrole et du Gaz (INPG).

Senegal, Cabo Verde, Guinea Conakry Business Day

In January 2017 NABC organised in collaboration with the Embassy of Netherlands in Dakar and RVO a business seminar to present business opportunities in Senegal, Cabo Verde and Guinea Conakry.  The Dutch Ambassador in Dakar, the investment promotion agencies from these countries as well as consultants shared their experiences and expertise on doing business. The event attracted over 100 participants.

Trade missions

In 2017, NABC organised a trade mission to Senegal (Dakar). It was a multisector trade mission focused on Maritime, Energy, Agribusiness and Tourism. The mission program included matchmaking B2B, G2B and company visits per sector.

In September 2013 the first ever multi-sectoral trade mission was realised in cooperation with the Dutch embassy in Dakar, Senegal and the Royal Netherlands Navy. 25 companies from a variety of sectors participated in this mission.

Investment climate

Senegal offers a stable political environment, relatively good infrastructure and strong institutions. This creates an attractive set of opportunities for Dutch business investments and trade. Senegal has maintained close foreign relations with the Western world. Having a strategic geographical position, it is located on the most western part of the African continent and is bordered by Guinea, Gambia, Guinea-Bissau, Mali and Mauritania by land, and Cape Verde by sea. Being a member of UEMOA (West African Economic and Monetary Union) and ECOWAS (Economic Community of West Africa), Senegal is a heavyweight in the regional economy. Moreover, it is the fourth largest economy in the region after Nigeria, Côte d’Ivoire and Ghana. In addition to that, it also belongs to the OHADA (Organization for the Harmonization of Business Law in Africa). All those are major assets for the establishment of well-developed regional and global economic cooperation.

The Government of Senegal welcomes foreign investment and has prioritised efforts to improve the business climate. The country has the goal of becoming the regional hub for services, industry and logistics.

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Investment opportunities lie mainly in the maritime, agriculture, (renewable) energy and cooling technologies sectors. Regarding agriculture, costs are constantly high for imported food products in Senegal, so the government is trying to reduce this dependence by attracting the private sector investment with many opportunities (e.g. onions, potatoes, fruits and vegetables). As for energy, the country plans to promote the integration of alternative energy sources, especially from solar energy. On the other hand, hydropower plants and water treatment plants also need to be built to meet the needs of the entire population. Further, there are more than 600,000 people who live from fishing, and this sector records more than 455,000 tonnes of catch per year, of which about 85,000 tonnes are exported and account for one third of the volume of exports. Fishing is the main source of foreign currency for Senegal. For this reason, cooling and packaging machines have good prospects for foreign manufacturers. Markets that are on the rise are the internet and telecommunication sector.

New gas fields are still being found in Senegal. The expected supply is from 2022 onwards, after which the economic growth will increase and energy is expected to become cheaper faster in Senegal.

Diplomatic relations

Netherlands

Embassy

The Netherlands is represented in Senegal via its Embassy in Dakar led by Ambassador Ms. Joan Wiegman
More information: https://www.netherlandsandyou.nl/your-country-and-the-netherlands/senegal

Senegal

Embassy

Senegal is represented in the Netherlands via its embassy in The Hague, led by Ambassador Mr. Momar Gueye.

Presence of Dutch companies

There are currently around 20 Dutch companies active in Senegal

Núria Vlonk-Cunha Soares

Head of Community, Events & Africa Insights Desk