The Senegalese Parliament recently adopted a new legal framework for the country's investment code. The framework creates a more attractive business environment by modernizing governing regulations to the benefit of foreign and domestic investors. Key innovations include the strengthening of investor protection, the guarantee of equal treatment for domestic and foreign investors, and the reduction of the financial eligibility threshold. 

The adoption solidifies strategic objectives designed to enhance job creation, technology transfer, and national private sector development.   

The Senegalese Parliament’s last investment code update occurred 21 years ago on February 6, 2004. The latest adoption demonstrates a strong commitment to a competitive, transparent, and secure business climate. Read below for a non-exhaustive list of the key innovations.   

The key innovations include:  

• broadened eligible sectors;  

• inclusion of small and very small enterprises (eligibility threshold reduced to 15 million CFA francs);  

• digitalization of procedures and facilitation of land access;  

• introduction of special tax and customs regimes, complemented by tailored incentives.  

• promotion of investment in inland regions;  

• strengthened non-fiscal incentives and facilities offered through APIX;  

• strengthened investor protection and guarantee of equal treatment for domestic and foreign investors; and   

• enhanced guarantees: capital transfer, currency convertibility, access to raw materials, dispute prevention, and settlement.