Senegal’s president highlights nation’s strengths at Berlin economic forum

Senegal’s President Bassirou Diomaye Faye engaged with German leaders and investors in Berlin this week, underscoring the nation’s growing appeal as a prime destination for foreign investment. Ahead of high-level meetings with German officials, including Chancellor Friedrich Merz and President Frank-Walter Steinmeier, Faye participated in the German-Senegalese Economic Forum, emphasizing Dakar’s commitment to economic reform and partnership.

The Senegalese leader outlined key reforms designed to bolster investor confidence, including enhancements to the business climate, stricter anti-corruption measures, and updated legal frameworks such as a new investment code and a revised customs code aimed at streamlining procedures.

Stability, resources, and strategic location

Faye highlighted Senegal’s political stability and strong democratic traditions, positioning the country as a gateway to a vast market of over 300 million consumers within the Economic Community of West African States (ECOWAS) and nearly 1 billion across the African Continental Free Trade Area (AfCFTA).

“Senegal possesses abundant natural resources,” he noted, pointing to recent oil and gas discoveries currently under development, as well as significant reserves of phosphate, iron, gold, zirconium, and uranium potential. He also emphasized the country’s youthful and dynamic workforce as a key asset for future growth.

Aligning with German economic priorities

Germany, facing a skilled labor shortage, is particularly interested in Senegal’s potential to provide qualified personnel. Additionally, German companies are closely watching opportunities in Senegal’s energy sector. The visit comes as the International Monetary Fund (IMF) concluded a recent assessment of Senegal’s economic resilience, noting the country’s strong performance in 2025, driven in part by the hydrocarbons sector despite a challenging global environment.

The IMF acknowledged that Senegalese authorities have reaffirmed their interest in a new supported program, a topic that has sparked debate within the country’s leadership.