Insights

Invest in Senegal

A competitive investment destination in West Africa

Senegal is classified among the top three fastest-growing economies in Africa, and offers a stable political environment, a favourable geographic position and strong institutions with growing opportunities for foreign investment. The Government of Senegal has further prioritised efforts to improve the business climate.

Key takeouts from this report

Economy

Senegal has the fourth largest economy in the West African sub-region after Nigeria, Ghana and Côte d’Ivoire. The country is the second largest economy in Francophone West Africa behind Côte d’Ivoire, with an average growth rate of 5.4% in the five past years.

Thanks to public expenditure, Senegal has made significant progress in infrastructure development, including the transport, electricity, and water sectors.

Business environment

Senegal offers a competitive destination for investments in Africa on account of its political stability, strategic geographical position, access to sub-regional markets and improving infrastructure.

The tax code reform, which entered into force in January 2013, reflects the government’s aspiration to use the tax system as an instrument to support economic growth.

Investment opportunities

An investment incentive regime is currently in place within Senegal’s regulatory framework. It looks after the improvement of business environment and gives support to private and foreign investments.

Challenges and risks

While Senegal’s outlook is promising, there are some aspects of improvement required to strengthen the achievement of a sustainable and rapid growth path.

What our experts say 

“Senegal offers a stable political environment, a favourable geographic position and strong institutions with growing opportunities for foreign investment. “

How can Deloitte help

Through an extensive African network, Deloitte offers services across all industries, with unique capabilities and services to partner with you at any stage of your Africa expansion strategy.
 

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