Thu. Dec 1st, 2022

Invest in Guinea

Guinea’s economy has rebounded from the adverse impact of the Ebola epidemic. Growth is expected to reach 6 percent over the medium term supported by buoyant mining activity, the scaling-up of infrastructure investments and the Government commitment for a modern fast growing rural economy. The business environment has significantly improved, as Guinea’s Doing Business ranking has improved by 15 places between 2013 and 2017. Guinea is now one of the fastest-growing countries in Sub-Saharan Africa. The country benefits from a strategic geographic position, unrivaled mining resources, the highest hydro electrical capacity in Western Africa and a rich and untapped agricultural potential. . 

The National Social and Economic Development Plan (PNDES 2016-2020) aims to achieve sustainable and inclusive-growth and reduce poverty through a structural transformation of the economy supported by the private sector development, on the back of infrastructure development and human capacity building. The PNDES will also reinforce ongoing efforts towards reforms, with continued financial and technical support from its development partners. 

Key Indicators
 Population, millions 13 
 GDP per Capita, U.S. dollars 790.3
 GDP Growth, percent
 8.25
 Inflation, end of period, percent 8.91
 General Government Debt, percent 37.95
 Global Competitiveness Ranking 2017-18 119
 Doing Business Ranking, 2019 152
*Figures are for the period 2017, unless otherwise indicated.

Energy

The hydroelectric potential of Guinea is Western Africa’s highest. However, only about 6% of a total hydropower capacity estimated at 6,100 MW is used. The 240 MW Kaleta dam is now active, and the 450 MW Souapiti dam is expected to be delivered in 2020, ensuring energy independence and establishing Guinea as an energy exporter. While international distribution networks are being built, the electrification rate sits at roughly 30%, leaving significant opportunities to develop the electricity grid.

Specific Opportunities

  • Construction of a 27 MW hydropower plant in the Macenta district
  • Construction of a 100 MW hydropower plant in the Mandiana distric
  • Construction of a 300 MW hydropower plant in the Dubreka district
  • National program for improved electricity access: development of low and medium voltage lines and individual electric installation


Agriculture

Specific Opportunities

  • Development of cashew nut plantations
  • Development of agricultural value-chains in coffee, cocoa, potatoes, corn, cassava, cotton
  • Hydro-agricultural development of 20,000 ha of agricultural plain along the Milo river
  • Construction, rehabilitation and supply of three vegetable production centers, six research centers and communal tree nurseries
  • Development of intensive meat and milk production from the Ditinn and Famoila farms


Living Infrastructures

Specific Opportunities

  • Construction of two regional teaching hospitals and four universities
  • Concession for the collection, transfer and disposal of solid waste for Conakry and its region
  • Drilling of 700 wells in the Mandiana and Kerouane districts
  • Construction of 20,000 social housing units in the Conakry region
  • Construction of commercial malls in Conakry


Infrastructure

Specific Opportunities

  • Rehabilitation of the Conakry-Kankan-Bamako railroad (900km)
  • Rehabilitation, construction and asphalting of national roads, including those extending to borders of neighboring countries: RN7 to Mali (150km), RN8 to Senegal (185km), RN27-30 (529km)
  • Construction of a new international airport and rehabilitation of regional airports
  • Development of Guinea’s digital infrastructures in particular fixed infrastructure


Mining


Culture and Tourism

Specific Opportunities

  • Sustainable development of tourism in the regional parks network
  • Creation of eight craft villages in four districts
  • Construction of the National Youth Palace and the National Culture Palace


See Full Prospectus

SOURCE https://www.compactwithafrica.org/content/compactwithafrica/home/compact-countries/guinea.html#tab_3

Leave a Reply

Your email address will not be published. Required fields are marked *