Over the past years, successful initiatives to diversify agricultural products have occurred, significantly reducing Senegal's dependence on groundnut exports. Cherry tomatoes, green beans, mangos and melons are some of the produce that have done exceptionally well.
Senegal is however still spending a lot on food imports, a situation the government is working to minimise through putting in place attractive incentives to encourage private sector investment in agribusiness. Investment in the sector, it is envisaged, will create food security.
Investment opportunities
The establishment of an integrated programme for the development of agricultural markets aimed at achieving growth in agribusiness, is currently an ongoing process that is intended to provide a favourable enviroment
for private sector investment to thrive in the following areas:
• Development of horticultural exports: Potential investors can produce cherry tomatoes, mangoes, melons, okra, peppers, onions and potatoes for export
• Processing of fruits and vegetables
• Marketing and packaging of agricultural produce
• Production of agricultural equipment
• Transport logistics
• Provision of financial services
• Research and development services
• Development of private irrigation and land-related activities
Comparative advantage
• A stable climate favourable to off-season cultures
• Proximity to the European and American export markets
• Existence of logistical infrastructure
• Agricultural know-how
• 240,000 hectares of available irrigable land
Incentives
Agricultural companies that export at least 80% of their products are exempted from:
• Income taxes from distributed dividends
• All forms of taxes based on salaries
• Custom and stamp duties for production and transportation equipment
• Wage taxes, business license taxes, land tax and all registration and stamp duties
• Corporate tax is at the rate of 15%
For further information on investing in agribusiness and other available incentives contact Senegal’s investment promotion agency, APIX.
Key contact: Augustin Diouf
Agro-business sector Manager
adiouf@apix.sn
