Senegal: The diaspora, a key lever for the economy [Business Africa]

 

The Senegalese diaspora, estimated at around 700,000 people, or nearly 4% of the population, plays a key role in the country's economy. Primarily settled in Europe and Africa, it contributes significantly to national finances.

Over the past 25 years, money transfers have seen strong growth, increasing from approximately $218 million in 2000 to nearly $3.6 billion in 2025. Today, these flows represent almost 10% of the gross domestic product.

Faced with high debt and a housing deficit estimated at nearly 500,000 units, the Senegalese authorities now wish to redirect these savings towards productive investments.

Among the options being considered: the creation of a real estate fund dedicated to the diaspora, in order to mobilize these resources to support economic development.

A strategic turning point for the country, which aims to make its diaspora not only a source of social support, but also a true engine of growth.

Ivory Coast: boom in foreign investment

Ivory Coast confirms its status as a leading destination for investment in sub-Saharan Africa.

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

This performance is based on solid fundamentals: expected economic growth of 6.5% in 2025 and 6.7% in 2026, as well as a controlled level of debt, at 59.3% of GDP, below the community threshold.

In December 2025, Fitch Ratings raised the country's sovereign rating to BB, highlighting a moderate default risk and one of the strongest credit signatures in sub-Saharan Africa.

Diversifying funding sources also enhances this attractiveness. In July 2025, Abidjan issued a samurai bond in Tokyo, raising 50 billion yen at a rate of 2.3% over ten years.

As a result, foreign direct investment has increased significantly, rising from $720 million in 2020 to $3.8 billion in 2024.

These funds, mainly from Mauritius, France and Singapore, are primarily targeting the agri-food sector.

This dynamic positions Ivory Coast as one of the most attractive markets on the continent.

Zimbabwe: Green light given to elephant leather exports

Zimbabwe is opening a new chapter for its leather industry. The country is now authorized to export finished elephant leather products, following lengthy negotiations under the CITES Convention.

For industry players, this decision represents a structured opportunity, part of a logic of sustainable management of natural resources.

Until now, the country mainly exported raw leather. Now, it will be able to access international markets directly with processed products offering higher added value.

The authorities hope that this development will boost the economy, particularly through job creation and industrial development.

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

This decision comes amid a surge in the elephant population, leading to overpopulation problems in some conservation areas.

The use of leather from slaughtered animals is thus part of a strategy aimed at reconciling economic imperatives and sustainable wildlife management.

But a large portion of these funds remains directed towards household consumption. Of the $3.6 billion transferred, the bulk goes towards family support, while only a small share is invested in structured projects or public financing.