Senegal and Germany Boost Investment Partnership

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Senegal and Germany Boost Investment Partnership
Senegal and Germany Boost Investment Partnership

Africa-Press. The Senegalese President Bashir Doumay Faye concluded a 48-hour official visit to Germany, focusing primarily on enhancing economic cooperation and attracting foreign investments to Senegal, as part of the country’s development vision for 2050.

During the visit, he held meetings with senior German officials, including the German Chancellor Friedrich Merz and the German President Frank-Walter Steinmeier, alongside participating in the German-Senegalese Economic Forum.

Bashir Doumay Faye emphasized the importance of German companies in supporting economic development in Senegal during the forum, praising the quality of German products and services, and urging German investors to strengthen their presence in the Senegalese market.

The visit resulted in the signing of agreements and projects worth a total of 240 million euros, which included the development of renewable energy projects, particularly solar energy, village electrification programs, support for small and medium-sized enterprises, as well as cooperation in vocational training in the automotive sector with the Daimler Trucks group.

Discussions also covered cooperation in the health sector, including a project for local production of dialysis equipment in collaboration with the Braun group, as well as talks with officials from Siemens Healthineers regarding the development and equipping of Senegalese hospitals.

Chancellor Friedrich Merz welcomed the strengthening of economic relations between the two countries, praising the new investment law in Senegal, which provides a more attractive environment for foreign investors. He confirmed that interest from German companies in investing in Senegal is growing, with the German government committed to supporting this trend.

Merz also commended Senegal’s role in West Africa and the Sahel region amid the security and political challenges facing the area, highlighting the importance of partnership with Dakar in supporting regional stability and development.

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