Senegal
The ISO code of Senegal is SN according to the ISO 3166 standard. The local name of the country is the same as its English name. Senegal capital city is Dakar. People in Senegal speak the French language. On 20 June 1960, Senegal emerged as a sovereign political entity. In the year 06/20/1960, Senegal emerged as a sovereign political entity. The largest city in Senegal is Dakar.
Senegal is located in the UTC +00:00 time zone, which is also called Western European Time or WET. The internet country code top-level domain (ccTLD) for Senegal is .sn. The International dialing code for Senegal is 221. People in Senegal drive on the right side of the road. Total land area of Senegal is 196,722 km² (approx. 75,954 mi²). Senegal is not a landlocked country. It means that is is bordered by at least one major body of water.
Senegal is located in Africa. Senegal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Senegal faces various issues, including poaching, deforestation, overgrazing, soil erosion, desertification, overfishing.
Doing business in Senegal
We offer various corporate services in Senegal jurisdiction. These services can serve both, people coming from Senegal and foreigners. If you plan on doing business in Senegal you might be interested in contacting us.
To find out about starting your business in Senegal click on company formation in Senegal.
To find out how to open a bank account in Senegal and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Senegal.
Choose preferred service below or continue reading to find out more about Senegal.
Demographics of Senegal
The total population of Senegal is 16,294,270 people. In Senegal, the population density is 69 people per square kilometer (180 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Senegal is 0.6939. Senegal has approximately 209398 foreign immigrants. The median age is approximately 18.4 years. In Senegal, 19.2 in every 100 people use internet. Senegal has a Human Development Index (HDI) of 0.485.
The majority religion of Senegal is Islam, Senegal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Senegal.
Culture of Senegal
People in Senegal speak the French language. According to data on inbound tourists in Senegal, 1,063,000 tourists arrive in the country each year. One of the most popular national dishes of Senegal is thieboudienne. To read more click on culture of Senegal.
Geography of Senegal
Senegal is considered to be a large nation because of its total area. Its total land area is 196,722 km² (approx. 75,954 mi²). Senegal is located in Africa. Its capital city is Dakar. Senegal has 5 neighbouring countries. Its neighbours include The Gambia, Guinea, Guinea-Bissau, Mali, and Mauritania. Total length of land borders of Senegal is 2684 kilometers (~1,036 miles).
The highest point of Senegal is an unnamed feature near Nepen Diakha, with its official height being 581 m (1,906 ft). Including land mass and EEZ, the total area of Senegal is approximately 355,583 km² (~137,291 mi²). The most notable natural resources found in Senegal are fish, phosphates, iron ore.To read more click on geography of Senegal.
Economy of Senegal
The currency of the country is West African CFA Franc. The symbol used for this currency is Fr, and it is abbreviated as XOF. 4.8% of population in the country are unemployed. The total number of unemployed people in Senegal is 782,125. Each year, Senegal exports around $2.69 billion and imports roughly $5.61 billion. The Gini Index of the country is 40.3. Senegal has a Human Development Index (HDI) of 0.485.The Global Peace Index (GPI) for Senegal is 1.805. Senegal has a government debt of 33.6% of the country's Gross Domestic Product (GDP), as assessed in 2012. Senegal is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, zircon, and gold mining, construction materials, ship construction and repair.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Senegal is $34,201 billion. Each year, consumers spend around $10,032 million. The ratio of consumer spending to GDP in Senegal is 0%, and the ratio of consumer spending to the world consumer market is 0.0289. The corporate tax in Senegal is set at 25%. Personal income tax ranges from 0% to 50%, depending on your specific situation and income level. VAT in Senegal is 20%. In 2013, Senegal received 1080.1 million USD in foreign aid.In 2014, the foreign aid amounted to 1060 USD.To read more click on economy of Senegal.
Infrastructure of Senegal
Infrastructure quality in Senegal is rated to be at 2.3. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Senegal, 56.5% of the population has access to electricity. There are 237 internet hosts in Senegal. Senegal has 20 airports nationwide.
The logistics performance index of Senegal is 2.62. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.65. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Senegal is 6. To read more click on infrastructure of Senegal.
Politics of Senegal
Senegal, is a semi-presidential republic. With regard to political and civil freedoms, Senegal is 1. Citizens in Senegal experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Macky Sall.
According to the World Bank Group, the government effectiveness index of Senegal is -0.39. This indicates that the government of Senegal is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Senegal before considering any business maneuvers.In Senegal, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Senegal is 1.805. The strength of legal rights index for Senegal is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Senegal received 1080.1 million USD in foreign aid. In 2014, the foreign aid amounted to 1060 USD. Senegal is a member of the United Nations (UN). On 28 September 1960, it joined the UN as a full member state. Senegal is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Senegal is a member of the World Bank. To read more click on politics of Senegal.
Environment of Senegal
Senegal emits 0.6 metric tons per capita of CO2. 86730 km² of Senegal's territory is covered in forests. and forest land comprises 44% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Senegal is 6. To read more click on environment of Senegal.
Company formation in Senegal
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Senegal.
When establishing a company in Senegal, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Senegal that will affect the establishment and growth of one's business. Contact us or click on company formation in Senegal to read additional information when setting up a business.
Bank account opening in Senegal
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Senegal. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Senegal, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Senegal or contact us.