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Guide for foreign investors · Senegal · Updated 6 November 2026

Investing in Senegal: oil and gas have started, the debt crisis is unresolved, the openings and the catches

Senegal has about 19 million people, a currency fixed to the euro, and since 2024 its first offshore oil and gas. It also has public debt of roughly 130% of GDP, credit ratings close to default, and a president and a party leader who disagree about the IMF deal. Net foreign investment fell almost to zero in 2025 as construction spending on the two big energy projects ended. Here is what the data says, where the openings are, and what to check before you commit, above all how and when you will be paid.

This guide is for companies setting up or expanding in Senegal. For the wider economy see Senegal's economy in figures.

Ask a Senegal analystSee the sectors
  • 18.9mpeople, 2025 estimateWorld Bank
  • 6.7%GDP growth in 2025, only 2.2% outside oil and gasIMF, 1 Sep 2026
  • 1.0%inflation, September 2026ANSD, 9 Oct 2026
  • XOF 584per US dollar, 6 Nov 2026, from the euro peg of 655.957BCEAO peg, market EUR/USD
  • $37mnet foreign direct investment in 2025, down from $3.3bnUNCTAD, 2026
  • 128.6%public-sector debt as a share of GDP, end of 2024Ministry of Finance, 14 Jul 2026
Question 1

Is now a good time to invest in Senegal?

It depends on who pays you. If your customers are the oil and gas operators or private companies and you can be paid in euros or dollars, the case is already live, because Sangomar and Greater Tortue Ahmeyim are producing. If you depend on the Senegalese state for payment, or you need a dollar loan, wait. The state is in a debt crisis, an IMF deal has been agreed by staff but not approved, and the National Assembly rejected the revised 2026 budget on 3 November. The next two months, when the IMF Board, the creditors and the budgets are decided, will show which way it goes.

Sangomar starts. Woodside's Sangomar field offshore began producing oil. It made 36.2 million barrels in 2025 and 17.9 million in the first half of 2026, according to the energy ministry.

The debt audit. The Court of Auditors (Cour des comptes) reported on 12 February 2025 that earlier governments had understated debt and the deficit. Debt at the end of 2023 was close to 100% of GDP, not the 74.4% first reported. The IMF later backed the findings, and its earlier $1.8 billion programme stayed frozen.

First gas exports. Greater Tortue Ahmeyim, which sits on the sea border with Mauritania, loaded its first LNG cargo. It exported 18 LNG cargoes in 2025. BP operates it with Kosmos Energy and the two state oil companies.

The contract review. Then Prime Minister Ousmane Sonko said the state had ended several oil block contracts, would renegotiate the terms of Greater Tortue Ahmeyim, and would review mining deals. On 22 April the state oil company Petrosen took full control of the Yakaar-Teranga gas block after Kosmos left, reportedly without compensation.

The president and the prime minister split. President Bassirou Diomaye Faye dismissed Sonko and named the economist Ahmadou Al Aminou Lo prime minister on 25 May. Sonko became president of the National Assembly and still leads Pastef, the party with the large majority there.

IMF deal in principle. IMF staff and the government agreed a 36-month Extended Credit Facility of about $2.2 billion. The Board will not vote until Senegal takes corrective action on the misreporting case and its partners give financing assurances. Senegal says it will seek a treatment of its external debt through the G20 Common Framework and keep regional CFA franc debt out of it.

Ratings fall and the budget fails. S&P cut Senegal to CC on 4 September. Moody's cut it to Caa2 on 28 August and, according to one report, to Ca on 2 November. On 3 November the Assembly rejected the revised 2026 budget that the IMF programme relies on.

CFA francs (XOF) per US dollar

2022 avgXOF 624
2023 avgXOF 607
2024 avgXOF 606
2025 avgXOF 582
6 Nov 2026XOF 584
World Bank annual averages for 2022 to 2025. The 6 Nov 2026 figure converts the fixed rate of 655.957 francs per euro at the euro-dollar rate of 5 to 6 November 2026, about 584. The franc is pegged to the euro, so the dollar rate moves only with the euro-dollar rate. Scale: full bar = XOF 624.

Net foreign direct investment into Senegal, US$ billion

2022$2.93bn
2023$4.79bn
2024$3.32bn
2025$37m
World Bank, balance of payments, which matches UNCTAD's 2025 figure of about $37 million. Scale: full bar = $4.79bn.
The next question

What could the IMF vote, the debt treatment and the next budget mean for your contract, your payment terms and your timeline?

We track the IMF, creditor and budget decisions as they land, and we ask likely customers what they plan to buy and when they expect to pay. The exposure depends on who pays you and in which currency, so we answer it on a call.

Ask us
Question 2

Who are the customers and the workers?

A young, mostly urban market of 18.9 million people, where three quarters of adults have a bank or mobile money account. Households spent about $23.6 billion in 2025, but income per head is only about $1,950 a year, and growth outside oil and gas was 2.2% in 2025, so demand is price-sensitive. Formal jobs are scarce: only about 43 in 100 people of working age are in work, even though the official unemployment rate looks low.

Population by age group, 2025

Under 15Working age, 15 to 6465 and over, 3.7%
World Bank, World Development Indicators, 2025.
55.8%live in towns and cities
76.5%of adults have an account, 2024
6.1mlabour force

Wages and skills

French is the language of business, law and government, and Wolof is the common language on the street. Labour is plentiful and cheap, but formal jobs are scarce and informal work is large. See minimum wage in Senegal and the unemployment rate in Africa. Employers also pay social contributions to the pension fund (IPRES) and the social security fund (Caisse de sécurité sociale).

Skills are thin at the top. About 15% of young people are enrolled in tertiary education (2024), and oil and gas operators have to hire Senegalese staff first under the local content law. See education in Senegal.

What this means for an investor

Senegal suits three kinds of investor. One sells to a young, connected urban market: there are 124 mobile subscriptions per 100 people, 60% of people use the internet, and 83% had electricity in 2024. One processes crops, fish and minerals for export. One supplies the oil, gas and power projects.

Dakar and the coast to the east and south hold most of the spending and the factories. Power cuts in Dakar in September and October 2026 show that supply of electricity, not demand, is often the limit.

The next question

How many buyers can afford your product at your price, in which cities, and what wage and skills will you need?

We test prices and demand with real buyers through our survey panel and match your product to the right segment and region. That depends on your product and your margin, so we answer it on a call.

Ask us
Question 3

How much foreign direct investment does Senegal get?

Very little in 2025. UNCTAD counted about $37 million of net inflows, against $3.3 billion in 2024 and $4.8 billion in 2023. The World Bank's balance of payments series gives the same figure. One local outlet printed $337 million, but that does not match either source. The big numbers of 2023 and 2024 came from building Sangomar and Greater Tortue Ahmeyim. Reporting links the 2025 drop to the end of that construction spending and to investor caution after the debt scare, but the data do not prove either explanation.

Foreign direct investment in Senegal by investor's home economy, stock, US$ billion

UK$2.41bn
Australia$2.08bn
France$1.82bn
Netherlands$1.17bn
Mauritius$0.54bn
China$0.18bn
IMF Coordinated Direct Investment Survey, 2022, as reported by Senegal itself, so this is the country's own count by the immediate investor. 2022 is the latest year reported. Investors from the United States, the UAE and Morocco are active here but do not reach the top six, and some of their money may be recorded through holding companies. Scale: full bar = $2.41bn.

Who is investing, and what the chart leaves out

Australia is on the list because of Woodside, which operates Sangomar. The UK figure is likely to include BP, the operator of Greater Tortue Ahmeyim, and holding companies set up for other groups. France reflects mining, telecoms and banking groups such as Eramet and Orange. The Netherlands and Mauritius are mostly holding company jurisdictions, so they show where money was parked on its way in, not whose money it is.

Some of the biggest players barely show up. Kosmos Energy is American, DP World, which is building the Ndayane port, is from the UAE, and Moroccan banks are well established in Dakar. China appears small at $0.18 billion because it lends and builds more than it takes shares, and loans are not counted as direct investment. See who invests in Africa.

The next question

Which foreign operators are already active in your sector, and who has entered or left in the last two years?

We map competitors, recent entrants and exits by sector and region. That list is part of every market-entry brief.

Ask us
Question 4

What incentives does Senegal offer foreign investors?

The standard corporate income tax rate is 30% and VAT is 18%, with a 10% rate for tourism (PwC). The incentives sit in the new Investment Code 2025, the special economic zones and the free export company regime. Zone and export companies pay 15% corporate tax. The code is meant to make incentives faster and more stable, but the state is short of cash and has been reviewing past deals, so a promise of stability counts for less than usual until the budget is settled.

ProgrammeWhat it offersWho runs it
Investment Code 2025 (law 2025-16)Adopted by the Assembly on 19 September 2025 and dated 27 September 2025. It sets up a digital single window with a ten working day target, stable tax and customs incentives, regimes for strategic and socially responsible investment, and guarantees on moving capital and converting currency. One guide reports that the entry threshold for incentives fell to CFA 15 million, while PwC's summary still shows CFA 100 million under the old code. Check the implementing decree.APIX (Agence nationale chargée de la Promotion de l'Investissement et des Grands Travaux)
Special economic zonesA 15% corporate tax rate instead of 30%, exemption from taxes and duties on imports, and exemption from the local economic contribution (CEL), for export-focused work in industry, agribusiness, ICT, tourism, health, port activity and services.APIX and the zone managers
Free export company statusA 15% corporate tax rate and exemption from some other charges for agriculture, industry and telecoms companies that export at least 80% of turnover. The 2025 Finance Law extended it to 31 December 2025, so confirm that it still applies.Tax authority (Direction générale des Impôts et des Domaines, DGID)
Mining and petroleum regimesExemptions from the local economic contribution and employer tax, and from VAT under conditions, set in the mining and petroleum codes and in each contract. See the deep dive for the local content rules.Ministries of Mines and Energy, Petrosen

Special economic zones and where they are

ZoneWhereBest known for
Diamniadio Integrated Special Economic Zone (DISEZ)About 30 km east of DakarA 53 hectare zone admitted to the special economic zone regime by decree in 2017, run by APIX, for export-oriented industry and light manufacturing
Diamniadio industrial parkDiamniadioPhase II of a Chinese-funded park, finished in December 2023, next to the new administrative city and the stadium that hosted the opening of the 2026 Youth Olympic Games
Sandiara Integrated Special Economic ZoneNear Mbour, Thiès regionNamed with Diamniadio as one of the two lead zones. One guide counts seven zones created and about CFA 189 billion of cumulative investment, a figure we could not confirm from an official source
Ndayane deep-water portOn the coast south of DakarDP World's port of about $1.1 billion, with dredging finished in July 2026, 13 months early, and opening planned for 2028
The next question

Which incentive route and which zone fit your project, and how likely are the benefits to be honoured as the state looks for revenue?

Eligibility, thresholds and the real tax bill depend on your sector, size and structure. We compare the options and track changes to the code and the finance law, and we answer it on a call.

Ask us
Question 5

Is it easy to do business in Senegal, and is it safe?

Senegal is one of the easier West African markets to run a business in day to day, and the currency is steady because it is tied to the euro. The trouble is in the state's finances and in politics. Cuts in public spending, late payments, contract reviews and a stalled budget are what can hurt a private investor. Dakar and the coast are generally calm, but the Casamance and the Mali border need care. The World Bank stopped its Doing Business ranking in 2021, so these are the problems investors raise most, and what they do about them.

RoadblockHow seriousWhat it looks likeWhat investors do
Debt and the IMF programmeHighPublic-sector debt was 128.6% of GDP at the end of 2024, and central government debt 119%. IMF staff agreed a $2.2 billion programme on 1 September, but the Board needs corrective action on the misreporting case and creditor assurances first. S&P rates Senegal CC and Moody's cut it to Caa2 in August and, according to one report, to Ca on 2 November. Senegal has no access to the international bond market.Avoid relying on state payments, ask for payment security, and plan for months of delay before the IMF and the creditors settle.
Politics and the budgetHighPresident Faye dismissed Prime Minister Sonko on 22 May. Sonko now leads the Assembly, and Pastef rejected the revised 2026 budget on 3 November, a measure the IMF deal needs. Local elections due in January 2027 look set to slip, and no date has been fixed.Watch the budget and the 2027 finance law, work with private counterparties where you can, and stay out of political positioning.
Contract and tax changesHighIn March 2026 the government said it had ended several oil block contracts, would renegotiate Greater Tortue Ahmeyim and would review mining deals, and press reports say it revoked 71 mining licences. Woodside says it respects the state's right to set the rules. A 0.5% levy on merchant digital payments has applied since October 2025.Choose partners with signed contracts and stability clauses, price in euros or dollars, and take legal advice before any mining or hydrocarbon deal.
ElectricityMediumPower cuts hit Dakar for nearly two weeks in September and October 2026 after two plants failed and fuel was short. Peak demand reached about 1,400 MW in August against more than 2,300 MW installed, and the domestic gas pipeline from Greater Tortue Ahmeyim is only partly built.Budget for a generator or solar and storage, and count power supply when choosing a site.
Late payment by the stateMediumThe IMF wants better monitoring of arrears, and the revised budget the Assembly rejected was meant partly to clear arrears owed to businesses.Insist on advance payment, a letter of credit or an oil or gas operator as the paying customer.
Security in the south and eastMediumThe Australian government advises reconsidering travel to the Casamance, except Cap Skirring, Ziguinchor and the road between them, and to the eastern border with Mali, where kidnapping is a risk. The al-Qaeda affiliate JNIM has attacked fuel convoys on the Kayes road in Mali. Dakar and the Thiès coast are treated as lower risk.Base staff in Dakar or the coast, avoid the Mali border, and brief gold and mining sites in Kédougou on security separately.
The next question

Which town and zone suit a project like yours, and how exposed are they to power cuts, payment delays and the debt treatment?

Regions differ in power, land and labour. We compare shortlisted options side by side for your sector and update the risk picture as the IMF, creditor and budget decisions land.

Ask us
Question 6

How to start a business in Senegal as a foreigner

Most foreign investors follow the same sequence, and APIX is the front door. Company registration is usually quick. The investment approval that gives access to the incentives has a ten working day target under the new code. Land, work permits and moving money take longer.

  1. Check the activity is open

    Most sectors are open to foreign owners on equal terms with Senegalese investors. Oil and gas, mining, telecoms and media carry extra licences, and oil and gas suppliers must register locally and open capital to Senegalese investors. Confirm your activity first.

  2. Choose the vehicle

    Most foreign investors set up a limited liability company (SARL), a share company (SA) or a simplified share company (SAS) under the OHADA business law, or a branch of a foreign company. In Senegal a SARL needs at least CFA 100,000 of capital, and a share company at least CFA 10 million. Check the current rules with a notary.

  3. Register the company

    Registration runs through the business creation desk at APIX and the trade and personal property register (RCCM). Ask for the company number, the tax identification number (NINEA, from the statistics agency ANSD) and the statutes together.

  4. Get the investment approval

    Apply to APIX under the Investment Code 2025. The approval is what gives access to the tax and customs incentives. The new code aims to decide in ten working days.

  5. Register for tax and social security

    Register with the tax authority (DGID) for corporate tax at 30% and VAT at 18%, and with IPRES and the Caisse de sécurité sociale for staff.

  6. Open the bank account and bring in the capital

    Open the account with a bank in the West African monetary union (UEMOA) and bring in capital through it. Keep the paperwork, because the central bank's exchange rules ask for documents when you send dividends or loan repayments out.

  7. Get work permits and sort out land

    Foreign staff need work authorisation from the Ministry of Labour. For land, buy titled land through a notary and check the title carefully, or lease in a special economic zone through APIX. Disputes over land are common, so take advice.

Where to base the business

Dakar

Head offices, banks, embassies, the main port and most consumer spending. The new Blaise Diagne airport is about 45 km east of the centre.

Diamniadio

The new administrative city and special economic zone about 30 km from Dakar, with a stadium that hosted the Youth Olympic Games opening on 31 October 2026.

Thiès, Sandiara and Ndayane

The coast south and east of Dakar, where the Sandiara zone and the new Ndayane deep-water port are planned or being built.

Saint-Louis and the north

The onshore end of the Greater Tortue Ahmeyim gas link and the planned Gandon power plant. Closest to the gas, and the base for oil and gas suppliers working with Mauritania.

Kaolack and the peanut basin

Groundnut and farm country, now linked to the coast by a Chinese-financed toll motorway opened in August 2026.

Kédougou

Senegal's gold belt in the south-east, near the Mali border. Gold is the reason to go there, and security is the reason to plan carefully.

The next question

What is the quickest legal route for your structure, and how do you protect your capital and your right to send profits home?

The route depends on your sector, your partners and your funding. We map it with local lawyers and advisers and show where the delays usually happen, so we answer it on a call.

Ask us
Question 7

Best sectors to invest in Senegal

The strongest cases build on oil and gas, power, minerals and a young, connected population. These six stand out in the data.

Sangomar at about 94,000 barrels a day, 27 LNG cargoes in nine months

Oil and gas supply chain

Sangomar made 36.2 million barrels in 2025, and Greater Tortue Ahmeyim exported 18 LNG cargoes in 2025 and 27 in the first nine months of 2026. Operators and contractors buy services, inspection, logistics and maintenance, under local content rules. See the deep dive below.

Held back: which operators and contractors are buying, how to qualify as a Senegalese supplier, and how to structure the local ownership.

Dakar power cuts in September and October 2026, gas pipeline under construction

Power and gas-to-power

The system had more than 2,300 MW installed but could not meet a peak of about 1,400 MW in August. Senelec is tendering for 500 MW of solar in Linguère and Kolda with storage, and solar capacity was already about 671 MW in early 2026. The first section of the Greater Tortue Ahmeyim to Gandon gas pipeline is more than 25% built.

Held back: who funds and pays for new plants while Senelec and the state are under pressure, and which developers are winning contracts.

Sabodala-Massawa produced 274,000 ounces in 2025

Gold and minerals

Endeavour Mining's Sabodala-Massawa mine is the largest gold producer, with 2026 guidance of 260,000 to 305,000 ounces. Eramet's Grande Côte mineral sands operation declared force majeure after a fire in February 2026 and planned a gradual restart. The government says it is reviewing mining contracts and has revoked licences.

Held back: which licences are safe, which are under review, and which processors and exporters can be trusted.

DP World's $1.1 billion Ndayane port due in 2028

Ports and logistics

Dredging finished in July 2026, 13 months early, and more than 1,000 people work on site. The port, the Diamniadio zone and new motorways create demand for warehousing, trucking, equipment and light industry along the coast.

Held back: who is buying space and services around the port, and when the first cargo is likely.

Crude groundnut oil exports reached 22,441 tonnes in 2025

Groundnut and crop processing

Raw groundnut exports fell from 65,308 tonnes in 2024 to 1,393 in 2025, after the government pushed for local processing, while crude oil exports nearly tripled. The policy favours processors that crush and refine in Senegal and may help other crops.

Held back: which processing steps earn the best margin, and how much supply is really available in each region.

76.5% of adults had an account in 2024

Digital payments and financial services

Account ownership jumped from 56% in 2021 to 76.5% in 2024, and there are 124 mobile subscriptions per 100 people. The state has been taxing digital payments, with a 0.5% levy on merchants since October 2025, which affects margins.

Held back: which payment and credit models work, how the new taxes affect pricing, and who the likely partners are.

Deep dive

Senegal's oil and gas: Sangomar, Greater Tortue Ahmeyim, Yakaar-Teranga and what they mean for suppliers

  • 94,000barrels a day from Sangomar in the third quarter of 2026, whole field, down from 99,000 in the second quarterWoodside, 20 Oct 2026
  • 27gross LNG cargoes lifted from Greater Tortue Ahmeyim in the first nine months of 2026; 32 to 36 are expected for the yearKosmos Energy, 2 Nov 2026
  • 25%+of the first section of the gas pipeline from Greater Tortue Ahmeyim to the Gandon power plant built by October 2026Kosmos Energy, 2 Nov 2026

The opportunity

Sangomar is the oil field that put Senegal on the map. Woodside operates it with the state company Petrosen. It began producing in June 2024, made 36.2 million barrels in 2025 and 17.9 million in the first half of 2026. The rate slipped to 94,000 barrels a day in the third quarter because the field is declining naturally, and Woodside says its own share also fell after it recovered its early costs. Woodside is studying a second phase aimed at the upper reservoirs and met Petrosen on 29 June, but there is no investment decision yet.

Greater Tortue Ahmeyim is a floating LNG project on the sea border with Mauritania. BP operates it with Kosmos Energy and the two national oil companies. It lifted its first cargo in April 2025, exported 18 cargoes that year, and runs at about 2.44 million tonnes a year. Kosmos reports work on a larger Phase 1+ and on supplying gas to the Senegalese market, including the pipeline to the Gandon power plant. The state took full control of the separate Yakaar-Teranga gas block on 22 April 2026 after Kosmos left, and Petrosen has described a two-phase $7.5 billion plan that serves the home market first. No final investment decision or first gas date is confirmed.

Local content is where smaller foreign firms come in. Law 2019-04 of 24 January 2019 applies to contractors, subcontractors and suppliers. Companies must register on the national local content platform, file a local content plan and an annual procurement plan with the national monitoring committee (Comité national de suivi du contenu local), give preference to Senegalese staff and suppliers, and open their capital to Senegalese investors.

What makes it work, and what can sink it

Works: a Senegalese partner with real capacity, an early place on the supplier registers, contracts with the operators (Woodside, BP, Kosmos) rather than the state, payment in euros or dollars, and enough capital to survive delays. Both producing projects are running reliably and the operators have to buy locally.

Sinks it: the state's side. The government said in March 2026 that it would renegotiate Greater Tortue Ahmeyim, and Kosmos left Yakaar-Teranga without compensation, so contract terms are not fixed. Sangomar is declining and Phase 2 is undecided. The domestic gas plan needs money the state does not have while it is restructuring its debt. Suppliers that depend on Petrosen or Senelec to pay may wait, and the capital-opening rule can complicate who you partner with.

What we hold back

Which operators, contractors and state companies are buying what, which Senegalese partners qualify under the local content rules, and how safe is your payment?

We map the buyers, the registered suppliers and the likely joint-venture partners, and we track the contract reviews and project dates as they move. That is the core of an oil and gas supplier brief.

Ask for the oil and gas supplier brief
For Chinese investors

Chinese companies and investment in Senegal

China is Senegal's largest trading partner and a major lender and builder, with about CFA 3,738 billion ($6.4 billion) of trade in 2024. Most Chinese money arrives as loans and construction contracts, not company shares, which is why China looks small in the direct investment figures. Financing agreements signed between the two countries total about CFA 2,016 billion, which is a sum of promises over several years, not money already spent.

  • Roads. The Mbour-Fatick-Kaolack toll motorway opened on 22 August 2026. Its total cost was about $738 million, of which a loan from the China Export-Import Bank covers nearly $620 million, and China Road and Bridge Corporation built it.
  • Industry. Phase II of the Chinese-funded Diamniadio industrial park was finished in December 2023. China also funded the renovation of four stadiums for the 2026 Youth Olympic Games.
  • Solar power. The Chinese state trading company CNTIC signed two contracts with Senelec in July 2025 for 50 MW solar plants, each with 90 MWh of battery storage, with financing included. Construction at Linguère began in April 2026, according to press reports. A memorandum with Huawei in August 2026 for plants at Linguère and Koungheul is an announcement, and no contract values have been published.
  • Trade. Since May 2026, China has applied zero tariffs on all lines for Senegal and other African countries it has diplomatic ties with, according to Senegal's ambassador in Beijing. Senegal's hydrocarbons, peanuts and fish products stand to gain.

What Chinese investors ask us most is practical: how the debt treatment affects Chinese loans and project payments, which Senegalese ministries and companies actually pay on time, how the local content rules apply to a Chinese supplier in oil and gas, and how to move profit out of a euro-pegged currency. As a bilateral lender, China would be expected to take part if Senegal's external debt treatment goes through the G20 Common Framework, but the terms are not set.

The next question

Is there room for your product, at your price, and who should you partner with?

We size the market, test prices with real buyers through our survey panel, and vet local partners before you sign anything.

Ask us

Questions investors ask about Senegal

Is Senegal a good place to invest in 2026?

The case rests on oil and gas, growth of 6.7% in 2025, a euro-pegged currency and a new Investment Code. The risks are heavy: public-sector debt of 128.6% of GDP at the end of 2024, a $2.2 billion IMF programme agreed by staff but not yet approved by the Board, ratings at or near default, a National Assembly that rejected the revised 2026 budget on 3 November, and net foreign direct investment of only about $37 million in 2025. It suits investors paid by oil and gas operators or private customers in euros or dollars, and it is risky for anyone who depends on state payments.

Can a foreigner own 100% of a company in Senegal?

Yes, in most sectors. Foreign and Senegalese investors get equal treatment under the Investment Code 2025, and OHADA company law lets one person own a company outright. Some sectors carry extra licences or conditions, and oil and gas suppliers must register in Senegal and open their capital to Senegalese investors under the local content law. A share company needs at least CFA 10 million of capital, and OHADA sets no fixed minimum for a limited liability company. Check the current rules with a notary.

What is the corporate tax rate in Senegal?

The standard corporate income tax rate is 30%, according to PwC. Companies in special economic zones and free export companies pay 15%. VAT is 18% on most activity and 10% on tourism. A minimum tax of 0.5% of turnover applies to loss-making companies, capped at CFA 5 million in PwC's summary. Dividends paid abroad bear withholding tax of 10%, or 5% if the recipient is a company holding at least 25% of the capital, before any tax treaty relief. Rules change with each finance law, so check the current one.

Can foreign companies take profits out of Senegal?

Yes, the Investment Code 2025 guarantees the transfer of capital and the conversion of currency, and Senegal is in the West African monetary union (UEMOA), where the CFA franc is fixed to the euro at 655.957 francs and convertible. Transfers go through banks and need documents under the regional central bank's exchange rules. The practical risks are slow paperwork and the cost of obtaining dollars while the state is under financial strain, not a ban on sending money home.

What is the exchange rate of the CFA franc, and is it stable?

The West African CFA franc (XOF) is fixed at 655.957 francs to the euro, which gave about 584 francs to the US dollar on 6 November 2026. It averaged 582 in 2025 and 606 in 2024. Because of the fixed rate it only moves against the dollar when the euro does. Inflation was 1.0% in September 2026 and the regional central bank (BCEAO) held its main rate at 3% on 9 September after cutting it by 0.25 points in March.

What is going on with Senegal's debt and the IMF?

Audits in 2025 found that earlier governments had hidden borrowing. The finance ministry puts public-sector debt at 128.6% of GDP at the end of 2024, and the IMF earlier estimated about 132%. On 1 September 2026 IMF staff agreed a 36-month, $2.2 billion Extended Credit Facility with the government. The Board has not approved it, because Senegal must first take corrective action on the misreporting case and get financing assurances from its partners. The government plans to treat its external debt, about $5 billion of Eurobonds and other foreign currency commercial debt, through the G20 Common Framework and to leave regional CFA franc debt out of it.

How much oil and gas does Senegal produce?

Sangomar, operated by Woodside, made 36.2 million barrels of oil in 2025 and 17.9 million in the first half of 2026, and averaged 94,000 barrels a day in the third quarter of 2026. Greater Tortue Ahmeyim, which Senegal shares with Mauritania and which BP operates, exported 18 LNG cargoes in 2025 and lifted 27 in the first nine months of 2026, at about 2.44 million tonnes a year. A second Sangomar phase and the state-led Yakaar-Teranga gas project are still undecided.

Will Senegal renegotiate its oil, gas and mining contracts?

It said it would. In March 2026 the then prime minister, Ousmane Sonko, said the government had ended several oil block contracts, would renegotiate Greater Tortue Ahmeyim, and would review mining agreements, and press reports say 71 mining licences were revoked. On 22 April the state took full control of the Yakaar-Teranga gas block after Kosmos left. President Faye dismissed Sonko on 22 May, and we found no published outcome for the Greater Tortue Ahmeyim talks. Woodside says it respects the government's right to set the rules.

How long does it take to register a company in Senegal?

Company registration runs through the business creation desk at APIX and is usually quick, and officials aim to decide investment approvals within ten working days under the Investment Code 2025. Registration for tax and social security, the bank account, and any work permits for foreign staff add time. Land is usually the slowest step. Plan on weeks, and longer if you need a special economic zone site or sector licences.

Is Senegal safe and politically stable for investors?

Day to day, Dakar and the coast are generally calm, and Senegal has changed presidents peacefully. The risks are political and regional. President Faye and Prime Minister Sonko split in May 2026 and Sonko now leads the Assembly, which rejected the revised budget on 3 November. The Australian government advises reconsidering travel to the Casamance, except Cap Skirring and Ziguinchor, and to the eastern border with Mali, where kidnapping is a risk. See the [safest countries in Africa](/safest-countries-in-africa).

Talk to a Senegal analyst

The questions this page does not answer

Public data gets you to a shortlist. The decision needs answers specific to your product, your budget and your timeline. These are the questions we answer for investors on a first call:

  • Is there demand for my product at my price?
  • Who will pay me, in which currency, and how late can they be?
  • How should I structure the company and the local ownership?
  • Which zone, city and power supply should I choose?
  • Who are my competitors, and who just entered?
  • Which local partners and suppliers are reliable?
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Sources and method

Where these numbers come from

Every figure on this page comes from an official statistics office, an international body, a listed company, or a report that cites one. Dates show when each figure was published or last updated. The debt, political and contract situation in Senegal is changing quickly, so check current news before you commit. This page is general information about Senegal's economy and is not investment, legal, tax or security advice.

  1. World Bank, World Development Indicators: population, age structure, labour force, urbanisation, exchange rate averages, accounts, internet use, electricity access, household spending and net foreign direct investment. data.worldbank.org, accessed 6 Nov 2026.
  2. UNCTAD, World Investment Report 2026, Africa regional trends: foreign direct investment inflows for Senegal in 2023, 2024 and 2025. unctad.org, 2026.
  3. International Monetary Fund, press release 26/282: staff-level agreement on an Extended Credit Facility, 2025 growth of 6.7%, non-hydrocarbon growth, 2025 inflation, and the conditions for Board approval. imf.org, 1 Sep 2026.
  4. Ministry of Economy, Finance and Planning, public debt statistical bulletin 2019 to 2024: public-sector debt of CFA 25,583 billion, 128.6% of GDP, central government debt of 119%. Reported by allAfrica, 14 to 15 Jul 2026.
  5. ANSD (Agence nationale de la Statistique et de la Démographie): harmonised consumer prices for September 2026, via Agence Ecofin, published 9 Oct 2026.
  6. BCEAO (Banque centrale des États de l'Afrique de l'Ouest): monetary policy committee statement, main rate held at 3%, 9 Sep 2026. bceao.int.
  7. Woodside Energy, third quarter report for the period ended 30 September 2026: Sangomar production and revenue. Woodside via Nasdaq, 20 to 21 Oct 2026.
  8. Kosmos Energy, third quarter 2026 results: Greater Tortue Ahmeyim cargoes, production and the gas pipeline to Gandon. investors.kosmosenergy.com, 2 Nov 2026.
  9. Reuters via CNBC Africa: Sangomar output of 17.9 million barrels in the first half of 2026 and 36.2 million barrels in 2025, from the energy ministry. cnbcafrica.com, 6 Jul 2026.
  10. Credendo, country news on the debt treatment and the IMF staff agreement. credendo.com, 11 Sep 2026. Rating moves: Yahoo Finance on S&P, 7 Sep 2026, and Daba Finance via allAfrica on Moody's, 3 Nov 2026.
  11. PwC, Worldwide Tax Summaries, Senegal: corporate tax, VAT, minimum tax, withholding tax, special economic zone and free export company incentives. taxsummaries.pwc.com, reviewed 2026. Investment Code 2025: Agence Ecofin, 22 Sep 2025.
  12. Politics and contracts: Al Jazeera on the dismissal of Prime Minister Sonko, 23 May 2026; Briefs on the rejected budget, 3 Nov 2026; Capmad on the contract review, 17 Mar 2026.
  13. China and projects: Financial Afrik on the Mbour-Fatick-Kaolack motorway, 24 Aug 2026; Seneweb, Senegal's ambassador to China, Oct 2026.
  14. Security: Australian government Smartraveller advice for Senegal, smartraveller.gov.au, updated May 2026.