Senegal is hailed as a highly successful African democracy, having established a multi-party system and a framework of civilian rule. Although unemployment levels are high, Senegal enjoys a relatively stable economy. GDP has shown steady growth over recent years.
Mining remains a viable source of income for Senegal, although the country does still depend on international donor assistance. A number of middle-eastern companies have come together to regenerate Dakar's maritime port, and in doing so establish a new special economic zone.
Recent years have seen Senegal and the IMF form a non-disbursing, policy support initiative program, which is hoped to steady the markets further.
The legal system is taken from French civil law system, and features the judicial review of legislative acts in Constitutional Court.
The Firm recently conducted a review of banking regulation for an international bank, and a review of the telecommunications sector for a US-based telcoms company.
We have conducted a review of the power generation sector for an international independent power producer (“IPP”).
The Firm is currently acting on a major due diligence exercise for a French-based multinational acquiring assets across the region.
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