According to the 2008 Index of Economic Freedom ranking, Senegal ranks 91st of 162 countries world-wide in the area of economic freedom which is closely tied to entrepreneurship. Their score was 58.2 out of 100.

• Senegal has an abundance of labor, relatively good infrastructure and a well-educated elite.
• It has a history of political stability and secular democracy, with decidedly pro-market leanings.
• They have been undergoing structural adjustment programs under the direction of the International Monetary Fund (IMF) and World Bank.
• The Senegalese economy is dominated by tertiary activities that make up 60% of the GDP.  The primary and secondary activities each make up 20% of the GDP.
• Senegal is the first country in West Africa that has been rated B+/ stable by Standard and Poors for three consecutive years.
• Their infrastructure is built up through railways, airports and shipping from the port of Dakar.
• Senegal has invested more money than any other African country in the telecommunications sector.
• Senegal is ranked number 1 by the International Telecommunications Union (ITU) for telephone penetration rate and high quality of service as compared to the other sub-Saharan countries.
• The corporate tax rate is approximately 33%.
• There are regulatory obstacles that impede investors from starting a business quickly in Senegal.
• Adequate access to capital through local financial systems is still a problem. Money is generally available for large enterprises and projects, as well as for very small ones, but not those in the middle.
• Trust is a major factor for banks so loans are not given out freely.

Important Resources