Senegal

Republic of Senegal

French West African CFA (XOF) French civil law
AU, ECOWAS, WAEMU, AfCFTA, WTO, OIC

Senegal is one of West Africa's most stable democracies and fastest-growing economies. The country is on the verge of a major economic transformation with the imminent start of oil and gas production from the Sangomar field (operated by Woodside Energy) and the Greater Tortue Ahmeyim (GTA) LNG project (shared with Mauritania).

Dakar is a major business hub for francophone West Africa, hosting the regional offices of many international organizations and multinationals. The Diamniadio new city project, the Blaise Diagne International Airport, and the TER commuter rail represent significant infrastructure investments.

President Bassirou Diomaye Faye (elected March 2024) has signaled a focus on economic sovereignty, renegotiation of natural resource contracts, and youth employment. Senegal benefits from CFA franc zone currency stability and a well-educated workforce.

SnapshotIndicatorsCountry FactsFocus SectorsRegulations & TaxesBusinesses (216)Deals (7)

Snapshot

Population~18.9 MWorld Bank, 2025
GDP (current USD)$37.0 BWorld Bank, 2025
GDP per Capita$1,955World Bank, 2025
GDP Growth6.68%World Bank, 2025
Inflation (y/y)~1.46%World Bank, 2025
BCEAO policy rate3.50%Central Bank
Unemployment2.74%World Bank, ILO modelled estimate, 2025
Internet Use~60.12%World Bank, 2024
Electrification~70.00%World Bank WDI
CPI Score (Rank)43.0/100 (#73)Transparency Intl
HDI (Rank)0.511 (#170)UNDP HDR
Credit RatingB+ (S&P) / Ba3 (Moody's) / B+ (Fitch)S&P / Moody's / Fitch
MarketBRVM (Bourse Regionale, Abidjan-based)

World Bank Indicators Compare with another country

GDP (current USD)$37.0 BWorld Bank, 2025
GDP growth (annual)6.68%World Bank, 2025
GDP per capita (USD)$1,955World Bank, 2025
Population, total18.9 MWorld Bank, 2025
FDI net inflows (USD)$2.0 BWorld Bank, 2024
Inflation (consumer prices)1.46%World Bank, 2025
Unemployment (% labour force)2.74%World Bank, 2025
Internet use (% of people)60.12%World Bank, 2024
Trade (% of GDP)71.07%World Bank, 2025

Country Facts

CapitalDakar
RegionWest Africa
CurrencyWest African CFA (XOF)
FX RegimeFixed peg to EUR via CFA franc
Stock ExchangeBRVM (Bourse Regionale, Abidjan-based)
Investment Promotion AgencyAgency for the Promotion of Investments and Major Works (APIX)
Legal SystemFrench civil law
Time ZoneAfrica/Dakar

Focus Sectors

Oil & Gas (emerging
Sangomar field)
Fishing
Agriculture (peanuts
rice)
Mining (phosphates
gold
zircon)
Tourism
Telecoms
Construction
Cement
Financial Services
Digital Economy

Regulations & Taxes

Corporate Income Tax30% standard
VAT / Sales Tax18% standard

Recent Deals (7)

View All Deals
SeedJun 2022
$3M

Paps

Series AJun 2022
$8M

Oolu

Series AJan 2022
$8M

InTouch Senegal

SeedJan 2022
$500K

Volkeno

Series ASep 2021
$200M

Wave

Lead: Sequoia Heritage

SeedJun 2021
$800K

Weebi

SeedJun 2020
$3M

Oolu

Tenders

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Acquisition de serveurs, équipements informatiques et capteurs LIDAR (drones)

Ministry of the Environment, Sustainable Development and Ecological Transition

Contract Awards

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accompagner la création et la mise en place d’entreprises sociales pour l’entretien et la maintenance des ouvrages de drainage et de la voirie du PROGEP 2

Government of Senegal (World Bank-financed, project P175830)

Sélection d’un consultant individuel pour l’étude d’identification et la cartographie participative des territoires de gisements de volute pour la mise en place de concessions territoriales p

Government of Senegal (World Bank-financed, project P175915)

Recrutement d’un Prestataire pour la mise en œuvre du plan de communication du CSSDOS

Government of Senegal (World Bank-financed, project P172524)

ACQUISITION D’APPAREILS PHOTO ET ACCESSOIRES (COMBINAISON POUR LA PLONGEE SOUS-MARINE)

Government of Senegal (World Bank-financed, project P175915)