Officially known as the Republic Of Senegal
country in West Africa.
economical and political capital is Dakar.
westernmost country in the mainland of the Old World, or Eurafrasia.
The climate is Sahelian, but there is a rainy season.
8th century - Present-day Senegal is part of the Kingdom of Ghana.
1677 - French take over island of Goree from the Dutch, the start of nearly 300 years of French oversight.
1756-63 - Seven Years' War: Britain takes over French posts in Senegal, forms colony of Senegambia. France regains its holdings during American Revolutionary War of 1775-83.
1960 - Senegal becomes an independent country.
2000 - Opposition leader Abdoulaye Wade wins second round of presidential elections, ending 40 years of Socialist Party rule.
2004 - Casamance Movement of Democratic Forces (MFDC) and government sign pact aimed at ending secessionist struggle in the southern province of Casamance. Violence continues, however until rebel leader Salif Sadio declares a unilateral ceasefire in 2014.
2012 - Macky Sall wins presidential elections and his coalition wins the parliamentary elections. MPs abolish the upper house, the Senate, and the post of vice president in an effort to save money for flood relief. Critics say the aim is to weaken the opposition.
2. ABOUT SENEGAL
Officially known as the Republic Of Senegal
country in West Africa.
economical and political capital is Dakar.
westernmost country in the mainland of the Old World,
or Eurafrasia.
The climate is Sahelian, but there is a rainy season.
3. TIMELINE OF SENEGAL
8th century - Present-day Senegal is part of the
Kingdom of Ghana.
1677 - French take over island of Goree from the Dutch,
the start of nearly 300 years of French oversight.
1756-63 - Seven Years' War: Britain takes over French
posts in Senegal, forms colony of Senegambia. France
regains its holdings during American Revolutionary War
of 1775-83.
1960 - Senegal becomes an independent country.
4. TIMELINE OF SENEGAL
2000 - Opposition leader Abdoulaye Wade wins second
round of presidential elections, ending 40 years of
Socialist Party rule.
2004 - Casamance Movement of Democratic Forces
(MFDC) and government sign pact aimed at ending
secessionist struggle in the southern province of
Casamance. Violence continues, however until rebel
leader Salif Sadio declares a unilateral ceasefire in 2014.
2012 - Macky Sall wins presidential elections and his
coalition wins the parliamentary elections. MPs abolish
the upper house, the Senate, and the post of vice
president in an effort to save money for flood relief.
Critics say the aim is to weaken the opposition.
5. FAST FACTS OF
SENEGAL
1. Population - 13.1 million
2. Area - 196,722 sq Km
3. Major Languages - French (official), Wolof
4. Life expectancy - 59 years (men) & 61 years (women)
5. Currency - CFA (Communaute Financiere Africaine) franc
6. President: Macky Sall
7. GEOGRAPHY OF
SENEGAL
The capital of Senegal, Dakar, is the westernmost point
in Africa.
The country, slightly smaller than South Dakota,
surrounds Gambia on three sides and is bordered on the
north by Mauritania, on the east by Mali, and on the
south by Guinea and Guinea-Bissau.
Senegal is mainly a low-lying country, with a semidesert
area in the north and northeast and forests in the
southwest.
The largest rivers include the Senegal in the north and
the Casamance in the southern tropical climate region.
12. POLITICS
Senegal has a quasi-democratic political culture
Local administrators are appointed by, and responsible
to, the president.
centralisation of power in the executive.
In 2008, Senegal finished in 12th position on the
Ibrahim Index of African Governance.
On 19 September 2012, lawmakers voted to do away
with the senate to save an estimated $15 million.
13. CULTURE
Senegal is well known for the West African tradition
of storytelling, which is done by griots, who have
kept West African history alive for thousands of
years through words and music.
The griot profession is passed down generation to
generation and requires years of training and
apprenticeship in genealogy, history and music.
Griots give voice to generations of West African
society.
19. DEMOGRAPHICS
Birth rate 35.09 births/1,000 population (2014 est.)
Death rate 8.65 deaths/1,000 population (2014 est.)
Net migration rate -1.66 migrant(s)/1,000 population
(2014 est.)
Urbanization urban population: 42.5% of total population
(2011)
rate of urbanization: 3.32% annual rate of change (2010-
15 est.)
20. SEX RATIO OF SENEGAL
at birth: 1.03 male(s)/female
0-14 years: 1.01 male(s)/female
15-24 years: 0.99 male(s)/female
25-54 years: 0.84 male(s)/female
55-64 years: 0.94 male(s)/female
65 years and over: 0.85 male(s)/female
total population: 0.94 male(s)/female (2014 est.)
21. INFANT MORTALITY RATE
IN SENEGAL
total: 52.72 deaths/1,000 live births
male: 58.91 deaths/1,000 live births
female: 46.35 deaths/1,000 live births (2014 est.)
23. Total fertility rate 4.52 children born/woman (2014 est.)
Contraceptive prevalence rate 13.1% (2010/11)
HIV/AIDS - adult prevalence rate 0.5% (2012 est.)
HIV/AIDS - people living with HIV/AIDS 42,800 (2012 est.)
HIV/AIDS - deaths 1,900 (2012 est.)
24. MAJOR INFECTIOUS
DISEASES
degree of risk: very high
food or waterborne diseases: bacterial and protozoal diarrhea,
hepatitis A, and typhoid fever
vectorborne diseases: dengue fever, malaria, and yellow fever
water contact disease: schistosomiasis
respiratory disease: meningococcal meningitis
animal contact disease: rabies (2013)
25. RELIGIONS
Muslim 94% (most adhere to one of the four main
Sufi brotherhoods),
Christian 5% (mostly Roman Catholic),
indigenous beliefs 1%
36. INDUSTRIALIZATION POLICY
Over 1961-69, opted for import substitution policies
aiming at favouring the emergence of dynamic
comparative advantages.
Tariff and non-tariff barriers protected large enterprises
which were created by mobilizing large amounts of (often
public) capital.
By 1970, an alternative policy emphasized the
development of small and medium business through the
creation of the National Company for Industrial Research
and Development (SONEPI) in 1969, followed by the
Dakar Industrial Free Trade Zone (ZFID) in 1974.
37. FISCAL POLICY
Fiscal policy in 2012 was marked by a slowdown.
budget deficit, estimated at 7% in 2012 against 6.6% in
2011, would have been higher (8%)
Government spending is high.
delays in non-priority capital expenditure.
Fiscal policy was slightly expansionary in 2012.
38. MONETARY POLICY
Senegal is a member of WAEMU, the eight-country
group that uses a single currency, the West African
CFA franc.
main objective is to ensure price stability and
safeguard purchasing power, is conducted within the
monetary union.
Monetary conditions in Senegal and the wider
WAEMU community were marked by the reduction
of required reserve ratios from 7% to 5% in March
2012
decisions by the Central Bank of West African
States (CBWAS) pushed down interest rates for
39. MONETARY POLICY
In Senegal, lending rates stood at an average of
between 4.97% and 11%, depending on the
borrower.
Increasing Money supply in the country.
40. INFLATION
Inflation was contained at 2.5% in 2012 (down from
3.4% in 2011), despite higher food prices (cereals)
and higher non-alcoholic drink prices.
Forecasts predict inflation will be below the WAEMU
ceiling of 3%
41. DEBT POLICY
Senegal continued to diversify its debt
instruments in 2012 in terms of the
concessional level, maturity and interest rates by
issuing debt securities on regional and international
markets.
The government gives priority to concessionary
financing and neither contracts nor guarantees
external loans on non-concessional terms. It
consults the IMF in advance whenever it does not
stick to these criteria.
The government plans to use remaining funds from
the IMF programme for non-concessional loans
(USD 200 million) and the programme for semi-
concessional loans to finance infrastructure
42. DEBT POLICY
The most recent analysis of debt sustainability
concluded that Senegal is at low risk. Aware of the
inherent risk of a rapid rise in debt, the government
created its first medium-term debt strategy led by
the Treasury’s new public debt division (Direction
de la dette publique). This new strategy, based
on detailed study, calls for a reshaping of debt by
reducing short-maturity instruments for domestic
debt.
44. FOREIGN TRADE POLICY
Tariff and non-tariff barriers to protect domestic
industries.
Slowly liberalizing economy.
Good future for investments in Senegal.
46. ECONOMY
The fishing sector has replaced the groundnut sector as
Senegal's export leader.
The industrial fishing operations struggle with high costs,
and Senegalese tuna is rapidly losing the French market
to more efficient Asian competitors.
Phosphate production, the second major foreign
exchange earner for Senegal
Receipts from tourism, the fourth major foreign exchange
earner, have picked up since the January 1994
devaluation.
47. TRADE UNIONS IN
SENEGAL
1.National Confederation of Senegalese Workers (CNTS)
2.Dakar Dem Dikk Workers Democratic Union (Dakar
Public Transport workers)
3.Democratic Union of Senegalese Workers (UTDS)
4.National Union of Autonomous Trade Unions of Senegal
(UNSAS)
5.General Confederation Of Democratic Workers Of
Senegal (CGTDS)
48. STOCK EXCHANGE
Senegal's corporations are included in the Bourse
Régionale des Valeurs Mobilières SA (BRVM), a
regional stock exchange serving the following eight
West African countries, and located in Abidjan, Cote
d'Ivoire.
49. REGIONAL AND
INTERNATIONAL ECONOMIC
GROUPINGS
1.World Trade Organization
2.International Monetary Fund
3.Organization of African Unity (OAU)/Africa Union
4.The Franc Zone
5.The Lomé Convention
6.Economic Community of West African States
(ECOWAS)
7.WEST AFRICAN ECONOMIC AND MONETARY
UNION (WAEMU)
8.Union économique et monétaire Ouest Africaine
(UEMOA)
9.The African Groundnut Council
10.the Organisation pour la mise en valeur du fleuve
Sénégal
51. MAJOR PORTS IN
SENEGAL
1.Port of Kaolack
2.Port of Dakar
3.Port of Ziguinchor
4.Port of Rufissque
5.M'Bao Oil Terminal
6.Port of Karabane
7.Port of Saint Louis
8.Port of Lyndiane
58. LABOUR LAWS
Q) Fixed-term contracts prohibited for permanent
tasks?
ANS) Yes
Q)Maximum length of a single fixed-term contract
(months)
ANS) 24 months
Q)Maximum length of fixed-term contracts, including
renewals (months)
ANS) 24.0
Q)Ratio of minimum wage to value added per worker
59. LABOUR LAWS
Equal remuneration for work of equal value? No
Gender nondiscrimination in hiring? No
Paid or unpaid maternity leave mandated by law? Yes
Minimum length of maternity leave (calendar days)? 98.0
Receive 100% of wages on maternity leave? Yes
Five fully paid days of sick leave a year? Yes
On-the-job training? No
60. LABOUR LAWS
Q)Incentives for employing workers under age 25?
ANS) Yes
Q) Maximum number of working days per week
ANS) 6.0
Q)Premium for night work (% of hourly pay)
ANS) 38.0
Q)Premium for work on weekly rest day (% of hourly pay)
ANS) 0.0
61. LABOUR LAWS
Paid annual leave for a worker with 1 year of tenure
(working days) 24.0
Paid annual leave for a worker with 5 years of tenure
(working days) 24.0
Paid annual leave for a worker with 10 years of tenure
(working days) 25.0
Paid annual leave (average for workers with 1, 5 and 10
years of tenure, in working days) 24.3
62. LABOUR LAWS
Premium for overtime work (% of hourly pay) 10.0
Restrictions on night work? 0.0
Whether nonpregnant and nonnursing women can work
the same night hours as men Yes
Restrictions on weekly holiday? 1.0
Restrictions on overtime work? Yes
63. LABOUR LAWS
Unemployment protection after one year of employment? No
Minimum contribution period for unemployment protection
(months)? n.a.
Can employee create or join union? Yes
Administrative or judicial relief for infringement of employees'
rights? Yes
Labor inspection system? Yes
66. CORPORATE INCOME
TAX
Senegalese companies are taxed on the
basis of the territoriality principle. As a result,
companies carrying on a trade or business
outside Senegal are not taxed in Senegal on
the related profits. Foreign companies
developing activities in Senegal are subject
to Senegalese corporate tax on Senegalese-
source profits only.
67. CORPORATE TAX RATES
The corporate income tax rate is 30%. The minimum
tax (impôt minimum forfaitaire, or IMF) payable
equals 0.5% of the annual turnover. The minimum
tax may not be less than XOF500,000 or more than
XOF5 million.
Unless otherwise stipulated in a double tax treaty,
the profits realized in Senegal by branches of
foreign companies that have not been reinvested in
Senegal are deemed to be distributed and are
accordingly subject to a 10% withholding tax.
68. CAPITAL GAINS
Capital gains are generally taxed at the regular
corporate tax rate. The tax, however, can be
deferred if the proceeds are used to acquire new
fixed assets in Senegal within three years or in the
event of a merger (or other corporate acquisition).
If the business is totally or partially transferred or
discontinued, only one-half of the net capital gain is
taxed if the event occurs less than five years after
the start-up or purchase of the business, and only
one-third of the gain is taxed if the event occurs five
years or more after the business was begun or
purchased.
69. ADMINISTRATION
The tax year is the calendar year. Companies must file
their tax returns by 30 April of the year following the tax
year.
Corporate tax must be paid in two installments (each
equal to one-third of the preceding year’s tax) by 15
February and 30 April. The 15 February installment may
not be less than the amount of the minimum tax. The
balance must be paid by 15 June.
Late payments are subject to interest at a rate of 5% of
the tax due. Each additional month of delay results in
additional interest of 0.5%.
70. DIVIDENDS PAID
Dividends paid are subject to a 10% withholding tax.
Dividends distributed by a Senegalese parent company that
consist of dividends received from a Senegalese subsidiary
that is at least 10% owned are not subject to dividend
withholding tax on the second distribution.
71. FOREIGN TAX RELIEFS
In general, foreign tax credits are not allowed;
income subject to foreign tax that is not exempt from
Senegalese tax under the territoriality principle is
taxable net of the foreign tax. However, the tax
treaty with France provides a tax credit for French
tax paid on dividends.
73. WHY WE SHOULD CHOOSE
TO INVEST IN SENEGAL ?
1. A strategic geographical position
2. Competitive production costs
3. A cheap and skilled labor force
4. A healthy and competitive economy
5. A reformed legal and taxation framework
6. Privileged access to regional and international
markets.
7. Foreigners can have a 100% stake in a company.
74. CHALLENGES WHILE
INVESTING IN SENEGAL
1. The poor and bad condition of the infrastructures;
2. A slow and corrupt administration;
3. Increased protection for investments by
government
4. Security;
5. Low company productivity; and
6. Low diversity of activities.
75. SECTORS FOR
INVESTMENTS IN SENEGAL
1.AGRIBUSINESS
2.POWER
3.TEXTILES
4.IT INDUSTRY
5.FISHERIES
6.TOURISM
7.MINING
Notas del editor
owes its name to the Sénégal River, which borders it to the east and north. The name "Senegal" comes from the Wolof "Sunuu Gaal," which means "Our Boat." Senegal covers a land area of almost 197,000 square kilometres (76,000 sq mi) and has an estimated population of about 13 million.
semi-arid climate
https://en.wikipedia.org/wiki/Senegal
UN, World Bank
http://www.bbc.com/news/world-africa-14093674
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States.