Context
Although Senegal has seen positive economic and political developments in recent years, the country still faces major challenges. There is a high level of youth unemployment, and almost half the population lives in poverty.
Senegal’s economy is heavily dependent on imports. The domestic market is small, and Senegal only exports goods to a few other countries. This despite the fact that the proximity to Europe and the United States has the potential to raise export levels. However, many barriers still need to be eliminated to promote private investment and profits in the country.
Objective
There are more and improved training and employment opportunities for young people in Senegal.
Approach
The special initiative operates in three fields of activity:
Supporting long-term investment
Together with companies and investors from Germany, Europe and Africa, the initiative develops industry-independent and needs-oriented projects in the form of training and job partnerships. These projects strive to remove barriers to investment and create long-term employment prospects.
Promoting attractive business locations and growth sectors
The initiative works with Senegalese partners to develop attractive business locations such as business parks and industrial estates and to promote selected growth sectors, including the food processing industry, information and communications technology (ICT) and the digital economy.
Expanding Senegalese SMEs
The project promotes Senegalese SMEs and fosters new business relationships between companies from Senegal, Germany and Europe. In addition, the project helps Senegalese companies improve the quality of their products to increase export potential and create new jobs.