Senegal has called on ECOWAS member states to strengthen efforts in attracting foreign investments across the region. The appeal was made by Ms. Fama Fall of Senegal’s Directorate of Foreign Trade, Investment and Development during the ECOWAS Common Investment Market (ECIM) Technical Committee Council meeting in Abuja.
At the meeting, which focused on improving cross-border investment promotion, Fall shared insights on Senegal’s investment climate, highlighting reforms that raised the country’s foreign direct investment from $2.58 billion in 2022 to $2.64 billion in 2023.
She said key sectors agriculture, ICT, health, tourism, and oil and gas, hold vast investment potential. She also listed France, China, Turkey, and the UAE among Senegal’s top investors.
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Fall emphasized the importance of Special Economic Zones and outlined legal reforms, including mining, oil, customs, and tax codes, alongside regional and bilateral investment agreements.
She urged ECOWAS states to improve investment governance, publish annual investment reports, upgrade transport infrastructure, and hold a ministerial ECIM meeting during ECOWAS’s 50th anniversary celebrations.
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