If the World Bank’s latest forecasts are correct, Senegal’s economy will grow faster than that of any other African country this year. “After slowing to 4.8% in 2022, Senegal’s growth is expected to accelerate to 8.0% in 2023 and firm to 10.5% in 2024,” the body predicts.
This is due to the discovery of massive oil and gas fields in the Atlantic Ocean off Senegal’s coast, the first of which could begin production this year, according to Petroleum and Energies Minister Assatou Sophie Gladima.
Analysts predict that Senegal’s thriving banking sector, as well as telecommunications and financial services, will continue to grow.
