The Exporters Club analyzes the opportunities and keys for Spanish companies to do business successfully in Senegal

El Exporters and Investors Club, in collaboration with the consulting firm Iberglobal and Official Chamber of Commerce of Spain in Senegal, has organized a web session with the aim of analyzing the opportunities and keys that will allow Spanish companies develop business in Senegal. The event included the inauguration of the ambassador of Spain in Senegal, Mrs. Olga Cabarga Gómez, who has highlighted the importance of the African country for Spanish companies due to its geostrategic position and the potential for economic growth that the area has.

 

In the round table, moderated by Jesús Jiménez, coordinator of the African working group of the Spanish Exporters and Investors Club, participants Marc Majó, head of the Commercial Department of EURONA; Joaquin Gerard, co-founding partner of JokooInt, and Vicente Maqueda, founding partner of GMF, who have shared their experiences in the country and have offered a series of tips for establishing fruitful business relationships in Senegal.

 

“Senegal is the market of the four Ps: prudence, patience, perseverance and presence. These are the four main characteristics that Spanish companies must work on to achieve good results in the country,” said Joaquín Gerard, who also highlighted the importance of having a medium-term implementation plan, and personalize and adapt the offers or marketing materials that the company presents to the local language and culture.

 

Having local partners and defining a medium-term implementation plan are fundamental factors for the proper development of operations.

 

For its part, Vicente Quemada has highlighted the importance of have a local partner for the correct development of operations: “Due to the experience that GMF has 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 relationships.” In this same sense it has been pronounced Marc Majó, who added: “Having local contacts, or from Spanish companies already established there, is essential to bring the business to a successful conclusion, but you have to make sure that they are suitable and compliant partners".

 

Analyze the existing competition in the country, avoid preconceived ideas about the African market opportunities, receiving specialized advice, paying attention to personal relationships and not underestimating the difficulties of the new environment, are some of the other pieces of advice that have been offered during the day.

 

Economic growth of 5% by 2021

 

The event also included the intervention of Elena Masó, analyst at the Economic and Commercial Office of Spain in Senegal, who has made an x-ray of the macroeconomic and sociopolitical situation of the country, highlighting its good progress: “Despite the global crisis due to the pandemic, Senegal is a country that during 2020 did not entered into recession and currently projects economic growth of 5% for this year,” he assured.

 

Masó has also highlighted the youth of the local population and the “incipient” appearance of a middle class in the country with “moderate, but expanding, purchasing power” and has pointed out the energy sector, infrastructure, water, agriculture and the digital sector, as the key sectors to invest in the African country.

 

For his part, the president of the Official Chamber of Commerce of Spain in Senegal, Gaspar Baños, wanted to underline 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 country's capital, with up to five regular flights to the week, and the low cost of maritime connections from the peninsula.