Senegal’s president highlights country’s investment potential in berlin

The President of Senegal, Bassirou Diomaye Faye, made a strong case for his nation’s economic strengths during a high-profile visit to Berlin. On Monday, he took part in a German-Senegalese economic forum, setting the stage for key meetings with German Chancellor Friedrich Merz and President Frank-Walter Steinmeier the following day.

Promoting Senegal’s economic strengths

During his address in Berlin, President Bassirou Diomaye Faye outlined Senegal’s growing appeal as an investment destination. He emphasized recent improvements in the business climate, anti-corruption efforts, and new legal frameworks—including an updated investment code and a revised customs code designed to reduce bureaucratic delays.

The President also underscored Senegal’s “political stability” and “long-standing democratic traditions”, positioning the country as a gateway to a market of over 300 million consumers within the ECOWAS region and nearly 1 billion across the African Continental Free Trade Area.

Natural resources and strategic advantages

Senegal’s economic potential was further highlighted by recent oil and gas discoveries, now under active development. The President also pointed to the country’s vast mineral wealth, including significant reserves of phosphate, iron, gold, zircon, and untapped uranium potential. He noted the presence of a young and dynamic workforce, positioning Senegal as a key player in Africa’s resource-driven growth.

Skilled workforce development and energy sector interest

Germany, facing its own labor shortages, has shown keen interest in partnering with Senegal to train qualified workers. The energy sector has also emerged as a focal point for German companies looking to expand their operations in West Africa. These discussions come as the International Monetary Fund (IMF) recently completed an assessment of Senegal’s economic performance.

The IMF praised Senegal’s resilient economy, which last year was bolstered by a strong performance in the hydrocarbons sector, despite challenging global economic conditions. The Fund confirmed that Senegalese authorities have “reaffirmed their interest in a new IMF-supported program.” This initiative remains a contentious issue, reflecting ongoing debates between President Bassirou Diomaye Faye and his former Prime Minister, Ousmane Sonko.