Senegal Frontier
Africa · Dakar · XOF (West African CFA Franc)
Economy & industry overview
Senegal is a lower-middle-income mixed economy in West Africa with a nominal GDP of approximately $32.3 billion in 2024. The economy is driven by agriculture, services, fishing, phosphate mining, tourism, and a rapidly growing hydrocarbons sector following the start of offshore oil production at the Sangomar field in June 2024. The services sector contributes approximately 49% of GDP, while industry accounts for roughly 24% and agriculture around 17%. Dakar serves as a regional financial and logistics hub for Francophone West Africa, hosting major banks and institutions. The medium-term outlook has improved significantly with oil and gas production ramping up, though structural challenges including high youth unemployment, public debt, and fiscal deficits persist.
Key sectors
📘 Learn everything about Senegal →Macro
| GDP nominal, USD | $32.27B |
| GDP growth real, annual | 6.9% |
| Inflation annual | 0.8% |
| Population people | 18.5M |
| GDP per capita USD | $1,744 |
| Market cap total listed, USD | $29.80B |
| Market cap / GDP | 92.3% |
| Unemployment | 20.3% |
| Listed companies | 47 |
| Exchange | Bourse Régionale des Valeurs Mobilières (Regional West African Exchange — shared with 7 WAEMU states) (BRVM) |
Data year: 2024. Sources: World Bank — World Development Indicators (GDP, GDP per capita), African Development Bank (AfDB) — Senegal Economic Outlook 2025, AfDB — Senegal Fact Sheet 2025, International Monetary Fund (IMF) — World Economic Outlook Database, BRVM — Bourse Régionale des Valeurs Mobilières (market cap, listed companies), Agence Nationale de la Statistique et de la Démographie (ANSD) — National Employment Survey (ENES) Q3 2024, UN Department of Economic and Social Affairs (UN DESA) — CDP Monitoring Report 2025, Crédit Agricole — Senegal Economic Overview, FocusEconomics — Senegal Country Profile, TradingEconomics — Senegal GDP, Statista — Senegal Unemployment Rate, Moody's Analytics / Economy.com — Senegal Indicators, Wikipedia — Economy of Senegal, African-Markets.com — BRVM Listed Companies, Daba Finance — Largest BRVM Companies by Market Cap.
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NigerLargest listed companies
The biggest companies on the main local exchange, by market capitalisation.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Sonatel (Société Nationale des Télécommunications du Sénégal)SNTS · BRVM | Telecommunications | $3.44B | — |
| 2 | TotalEnergies Marketing SenegalTTLS · BRVM | Energy / Petroleum Distribution | $185.00M | — |
| 3 | CBAO Groupe Attijariwafa BankCBAO · BRVM | Financial Services / Banking | $140.00M | — |
| 4 | Société Générale SénégalSGS · BRVM | Financial Services / Banking | $115.00M | — |
| 5 | Banque de l'Habitat du SénégalBHS · BRVM | Financial Services / Mortgage Banking | $95.00M | — |
| 6 | Ecobank SénégalETIT · BRVM | Financial Services / Banking | $80.00M | — |
| 7 | Compagnie Sahélienne d'Entreprises (CSE)CSE · BRVM | Industrials / Construction | $45.00M | — |
| 8 | Société Africaine de Plantations d'Hévéas — Sénégal (SAPH Senegal subsidiary exposure via BRVM)SDSC · BRVM | Consumer Goods / Distribution | $38.00M | — |
US-traded ETFs
Funds listed in the US that give exposure to this market — the simplest route for many US investors.
| Ticker | ETF | Issuer | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|---|---|
| XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | WisdomTree | Broad EM | 0.32% | 0% |
| EZA | iShares MSCI South Africa ETF | BlackRock / iShares | Regional | 0.59% | 0% |
| AFK | VanEck Africa Index ETF | VanEck | Regional | 0.78% | 3% |
| FM | iShares MSCI Frontier and Select EM ETF | BlackRock / iShares | Broad EM | 0.79% | 1% |
Local exchange & access
| Exchange | Bourse Régionale des Valeurs Mobilières (Regional West African Exchange — shared with 7 WAEMU states) |
| Code | BRVM |
| Website | www.brvm.org |
| Currency | XOF |
Local broker access
Senegalese equities are listed on the BRVM, a fully electronic regional exchange headquartered in Abidjan, Côte d'Ivoire, covering eight WAEMU member states including Senegal. Access for international investors requires engaging a licensed Société de Gestion et d'Intermédiation (SGI — accredited brokerage firm) regulated by the Conseil Régional de l'Épargne Publique et des Marchés Financiers (CREPMF). Retail platforms such as Daba Finance enable online access to BRVM stocks for international investors. Settlement follows a T+2 cycle as of December 4, 2025. There are no US-listed ADRs or NYSE/NASDAQ cross-listings for any Senegalese companies. Liquidity on Senegalese-issued BRVM stocks (outside Sonatel) can be limited; Sonatel (SNTS) is by far the most liquid Senegalese security on the exchange.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only — not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants No formal investment-migration programme
Senegal does not operate a formal golden visa or citizenship/residency-by-investment programme. Foreign nationals may obtain long-term residency through standard work, business, or family visa pathways governed by the Direction Générale des Étrangers under the Ministry of Interior. There is no legislated minimum investment threshold that confers automatic residency or citizenship rights as of 2024–2025.
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Foreign nationals relocating to Senegal typically apply for a long-stay visa (visa de long séjour) at a Senegalese embassy abroad, followed by registration for a carte de séjour (residence permit) upon arrival. French is the official language; Wolof is the most widely spoken national language. Dakar is the primary business hub with international schools, hospitals, and expatriate infrastructure. The West African CFA Franc (XOF) is pegged to the euro at a fixed rate of 655.957 XOF per EUR. Cost of living is relatively low by regional standards outside of premium Dakar neighborhoods. No formal investment-linked fast-track residency scheme exists.