West Africa: The French New Economic Vision

By on December 1, 2010
Sixty French companies’ heads from Sub-Saharan Africa, Central Africa and France met in Dakar to present their vision of African markets. France wants to restart innovative and aggressive economic values in Africa.

Well known French personalities came to Dakar to implement new offensive plan and long-term vision of French companies, faced with the rise of the new business entrepreneurship   of China and India over the past ten years. French investors remain confident, especially with regard to the South of the Sahara where large French groups such as Axa, Bolloré, Castel, Eiffage, Vinci, Sagem, Gras Savoye, and Vivendi operate before and after independence. Exactly those who believe that the African economy, spared from the devastating effects of the financial crisis, is dynamic and prospecting a growth of 5.5% in 2011, confirming the economic attractiveness in the area. The conviction of the former French minister, Bruno Durieux, the economics mastering man of Bérégévoy’s government, has confirmed that the French companies have lost significant market share over the past ten years in Africa for the benefit of the Chinese and the Indians, but they still hold on good ties and are well consolidated and strongly attached to Africa. For Gérard Senac, the French Foreign Trade Advisors (FFTA) President in Senegal, he declared: “We have the ability to bounce back and keep our leadership position and policy on the traditional African market although we have to seriously consider our new competitors in the region.

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