While Senegal and Dakar, its capital, remain in the collective memory thanks to the famous Dakar Rally, there is much more to this West African nation.

This sub-Saharan country holds great potential for development and growth in the near future, largely due to its strategic position and its excellent land, sea and air connections.

It enjoys political and economic stability. Not only that but thanks to its sustained growth due to its production of hydrocarbons in recent years, it has been a very attractive location for companies. Spain has also historically enjoyed good relations with Senegal, both in terms of migration and trade thanks to its openness. Today, the presence of Spanish companies in this African country is solid and can be found in sectors such as fishing, agriculture, mining, engineering, construction and tourism.

A country for the future

The future lies in Africa, a continent enjoying rapid development and with growing markets and requirements that Spanish companies can fulfil. If you are looking to invest in Senegal, there is no doubt that energy is the best option. The Senegalese government is promoting the electrification of the country’s rural regions, as well as the installation of renewable energy sources. A demonstration of its awareness of the need for a cleaner future.

Other sectors that also represent an important opportunity for Spanish companies are agriculture, fishing, housing construction and the creation of basic infrastructure such as ports, airports and railways. Other areas include ICT services, the textile industry, industrial equipment maintenance and even tourism and cultural industries. A list that makes it more than evident that Senegal can provide the opportunity that Spanish companies are looking for to expand internationally.

Export destination

Senegal also offers trade opportunities, as the country needs to import products from abroad to meet all its requirements. In the 2020 financial year, exports from Spain to Senegal reached 341 million euros. In the first quarter of 2021, 72.84 million euros in exports had already been registered. This is a demonstration of how the trade relationship between the two countries is becoming increasingly close. These figures place Senegal in 64th place in the ranking of Spain’s clients.

Among the commercial sectors in which Spanish companies can find the greatest commercial opportunities are:

  • Agri-food sector: Both processed products and industrial and agricultural equipment for manufacturing and processing, so that its own industry can be developed there.
  • Industrial sector: Machinery for all types of industries such as construction or any other manufacturing industry.
  • Service sector: Especially in sub-sectors such as logistics, consultancy, ICT services, etc.
  • Health sector: As in other West African countries, its growth also necessitates the development of a better health sector. Therefore medical materials and equipment for hospitals and materials for the construction of hospitals are also needed.

Going international

The prospects for growth and development are, without doubt, the greatest attractions that Spanish companies can find in Senegal. Especially in its capital, Dakar, where almost 80% of companies are located. Why not consider it as the main destination for the internationalisation of your company? Broaden your horizons, at Logimarex International we are here to guide you.