Senegal: The diaspora, a key driver of the economy [Business Africa]

The Senegalese diaspora, estimated at around 700,000 people, nearly 4% of the population, plays a central role in the country’s economy. Mainly based in Europe and across Africa, it makes a significant contribution to national finances.

Over the past 25 years, remittances have increased sharply, rising from about 218 million US dollars in 2000 to nearly 3.6 billion US dollars in 2025. Today, these flows account for close to 10% of the country’s gross domestic product.

However, a large share of these funds is still directed toward household consumption. Of the 3.6 billion dollars transferred, most is used for family support, while only a small portion is invested in structured projects or public financing.

With high public debt and a housing deficit estimated at nearly 500,000 units, Senegalese authorities are now seeking to redirect this savings pool toward productive investment.

Among the options being considered is the creation of a diaspora-focused real estate fund aimed at channeling these resources into economic development.

This marks a strategic shift for the country, which aims to turn its diaspora into not only a social safety net but also a genuine engine of growth.

Côte d’Ivoire: A surge in foreign investment

Côte d’Ivoire is strengthening its position as a leading destination for investment in sub-Saharan Africa.

On February 18, 2026, the country raised 1.3 billion US dollars on international markets through a eurobond, attracting nearly 270 investors. The interest rate, set at 5.39%, is among the most competitive in the region in recent years.

This performance is supported by strong economic fundamentals: growth is projected at 6.5% in 2025 and 6.7% in 2026, while public debt remains under control at 59.3% of GDP, below the regional threshold.

In December 2025, Fitch Ratings upgraded the country’s sovereign rating to BB, citing a moderate default risk and one of the strongest credit profiles in sub-Saharan Africa.

The diversification of funding sources has also boosted investor confidence. In July 2025, Abidjan issued a samurai bond in Tokyo, raising 50 billion yen at an attractive rate of 2.3% over ten years.

As a result, foreign direct investment has surged, increasing from 720 million US dollars in 2020 to 3.8 billion US dollars in 2024.

These investments, mainly from Mauritius, France, and Singapore, are primarily directed toward the agro-industrial sector.

This dynamic positions Côte d’Ivoire as one of the most attractive markets on the continent.

Zimbabwe: Green light for elephant leather exports

Zimbabwe is entering a new phase in its leather industry. The country has now been authorized to export finished elephant leather products following lengthy negotiations under the CITES Convention.

For industry stakeholders, the decision represents a regulated opportunity aligned with the sustainable management of natural resources.

Until now, Zimbabwe mainly exported raw leather. It can now access international markets with higher value-added finished products.

Authorities hope this development will help stimulate the economy, particularly through job creation and industrial growth.

The objective is clear: to capture more value locally by strengthening processing and marketing capabilities.

The decision comes as elephant populations continue to grow, leading to overpopulation issues in some conservation areas.

The use of leather from culled animals is therefore part of a broader strategy aimed at balancing economic objectives with wildlife conservation.

Related articles

Gulf crisis draws attention to African oil [Business Africa]

Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

Egypt: Tourism holds strong despite regional tensions [Business Africa]

11:18

Gulf crisis draws attention to African oil [Business Africa]

11:18 Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

11:17

Egypt: Tourism holds strong despite regional tensions [Business Africa]

11:18

Gulf crisis draws attention to African oil [Business Africa]

11:18 Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

11:17

Egypt: Tourism holds strong despite regional tensions [Business Africa]

NEWS 01:56 Portugal’s last circus elephant begins a new life at wildlife sanctuary

NEWS 01:03 Ivory Coast court postpones hearing on Tidjane Thiam's election to lead PDCI

BUSINESS AFRICA 11:06 Illegal gold mining: Who profits from Africa’s gold smuggling? [Business Africa]

NEWS 01:12 Ivory Coast: 12 charged over gendarme’s killing amid lingering election tensions

NEWS

02:39

Is Macky Sall preparing for a political comeback in Senegal?

NEWS 01:22 Senegalese workers protest rising living costs ahead of three-day general strike

01:30

Nigeria

Nigeria's Tinubu defends policies as he launches re-election bid

01:13

Gabon

Gabon restores social media access after an eight-month ban

01:01 Saudi Arabia Saudi Arabia's Riyadh airport partially resumes flights after Houthi attacks