Some 30 private sector representatives from Europe and North America attended the PSLO Business Mission to Dakar and Accra on September 22-26, 2014, co-organized by PSLOs from Canada, Spain, USA, Senegal, and Ghana. The multi-national business mission aimed to provide a better understanding of business opportunities with International Financial Institutions in these countries. The program included meetings with representatives from the World Bank Group, African Development Bank, Millennium Challenge Corporation, Embassies, and Government Project Implementing Agencies. Local PSLOs based in Dakar and Accra organized business-to-business meetings with local companies.

The multiple country delegation visited Senegal and Ghana, focused on project development at the International Financial Institutions, and provided understanding and opportunities for the private sector.

The Economic Outlook

Senegal
Senegal aspires to be a high middle income country by the next decade. Growth of 4.0% of GDP in 2013, compared with 3.4% in 2012, confirmed Senegal’s economic recovery. The new development strategy laid down for the period from 2014 to 2035, the Plan Sénégal Emergent (PSE), is based on growth of at least 5% in 2014 and 2015. Over the medium term, Senegal is expected to regain economic momentum.

Ghana
Ghana’s economy is expected to maintain robust growth over the medium term, bolstered by improved oil and gas production, increased private-sector investment, improved public infrastructure development and sustained political stability. Ghana’s economy has maintained commendable growth trajectory with an average annual growth of about 6.0% over the past six years. In 2013 growth decelerated to 4.4%, considerably lower than the growth of 7.9% achieved in 2012. Over the medium term to 2015, the economy is expected to register robust growth of around 8%, bolstered by improved oil and gas production, increased private-sector investment, improved public infrastructure development and sustained political stability.