Senegal’s President Bassirou Diomaye Faye is making his case for foreign investment in Berlin this week, positioning his nation as a prime destination for international businesses and partners.

On Monday, he addressed a high-profile economic forum in the German capital, outlining the country’s growing appeal through reforms, strategic resources, and a stable environment for investors. Tuesday’s agenda includes meetings with German Chancellor Friedrich Merz and President Frank-Walter Steinmeier, capping a two-day diplomatic push to strengthen economic ties.

Senegal’s economic potential takes center stage

In his address, President Faye emphasized the country’s business-friendly climate, anti-corruption measures, and legal reforms—including updates to investment and customs codes designed to streamline procedures. These efforts aim to position Senegal as a competitive hub in West Africa.

He underscored the nation’s political stability and strong democratic traditions, while highlighting its strategic location. Senegal, he noted, serves 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).

Natural wealth and human capital

Faye also spotlighted Senegal’s natural resources, including recent oil and gas discoveries now under development. The country boasts significant reserves of phosphates, iron, gold, zirconium, and uranium potential, alongside a young and dynamic workforce ready to meet global demand.

Training the next generation of skilled workers

Germany, in turn, is eyeing Senegal’s potential to help address its own labor shortages through training initiatives. The energy sector also presents promising opportunities for German businesses looking to expand in Africa.

Meanwhile, the International Monetary Fund (IMF) has acknowledged Senegal’s resilient economy, which last year benefited from strong hydrocarbon sector performance despite global economic headwinds. The IMF confirmed that Senegalese authorities have reiterated their interest in a new IMF-supported program, a key issue amid ongoing discussions with former Prime Minister Ousmane Sonko.