The Exporters' Club analyses the business opportunities and keys for Spanish companies in Senegal
The Exporters and Investors Club, in collaboration with the consultancy firm Iberglobal and the Official Spanish Chamber of Commerce in Senegal, has organised a web session with the aim of analysing the opportunities and the keys that will allow Spanish companies to develop business in Senegal. The event was opened by the Spanish Ambassador to Senegal, Olga Cabarga Gómez, who highlighted the importance of the African country for Spanish companies due to its geostrategic position and the potential for economic growth in the area.
The round table, moderated by Jesús Jiménez, coordinator of the Africa working group of the Spanish Exporters and Investors Club, was attended by Marc Majó, head of the Commercial Department of EURONA; Joaquín Gerard, co-founding partner of Jokoo Int, and Vicente Maqueda, founding partner of GMF, who shared their experiences in the country and offered a series of tips for establishing fruitful business relationships in Senegal.
"Senegal is the market of the four pes: prudence, patience, perseverance and presence. These are the four main characteristics that Spanish companies must work on in order to achieve good results in the country", said Joaquín Gerard, who also stressed the importance of having a medium-term implementation plan, and of personalising and adapting the offers and marketing materials that the company presents to the local language and culture.
For his part, Vicente Quemada stressed the importance of having a local partner for the proper development of operations: "Given GMF's experience in the country, one of the main keys is to find the best local partner who can accompany you at the beginning and, of course, be present on the ground to strengthen relations". Marc Majó has also expressed the same opinion, adding: "Having local contacts, or contacts with Spanish companies already established in the country, is essential to bring the business to a successful conclusion, but you have to make sure that they are suitable and reliable partners".
Analysing the existing competition in the country, avoiding preconceived ideas about the opportunities in the African market, receiving specialised advice, paying attention to personal relationships, and not underestimating the difficulties of the new environment are some of the other tips offered during the conference.
Elena Masó, analyst at the Spanish Economic and Commercial Office in Senegal, also spoke at the event. She gave an overview of the country's macroeconomic and socio-political situation, highlighting its good progress: "Despite the world crisis caused by the pandemic, Senegal is a country that did not go into recession in 2020 and is currently projecting economic growth of 5% for this year," she said.
Masó also highlighted the youth of the local population and the "incipient" emergence of a middle class in the country with "moderate purchasing power, but in expansion" and pointed to the energy sector, infrastructure, water, agriculture and the digital sector as the key sectors for investment in the African country.
For his part, the president of the Official Spanish Chamber of Commerce in Senegal, Gaspar Baños, wanted to highlight the good image that the Senegalese have of our country as a "value to be exploited by Spanish companies", while highlighting the good air connections that exist with the capital of the country, with up to five regular flights a week, and the low cost of maritime connections from the peninsula.
