CYBER SECURITY, A PRIORITY FOR THE FUTURE

KEEPING COSTS DOWN, A GUARANTEE FOR INVESTORS

Senegal has not only risen in the World Bank’s “Doing Business” ranking, but it has also developed fiscal and legal incentives for investors, as well as attractive establishment conditions, guarantees based on a reasonable (and stable) cost of living, and business operating costs that have been published by the Ministry of Economy, Finance and Planning.

CONSUMPTION: MAJOR TRENDS IN THE 2020 COST OF LIVING

In a context marked by the COVID-19 pandemic and despite a drop in demand, the cost of food on the international market rose during the first few months of 2020. During this same period the FAO (U.N. Food and Agriculture Organization) index showed a 0.9% increase in food prices mainly due to a acost increase of 5.2% for dairy products, 2.2% concerns grain crops, 5.4% for sugar and 4.8% for oil. As for Senegal, data from ANSD (National Agency for Statistics and Demography) showed that consumer prices went down by a slight 0.7% between October 2019 and the end of March 2020 thanks to a drop in the price of local products, but did not go down more since the price of imported products went up.

Looking at the major trends in the cost of living in Senegal, the cost of food products and non-alcoholic beverages fell between October 2019 and the end of March 2020 (-1.7 %) because of the drop in the price of fresh produce thanks to an abundant supply. On the other hand, these prices rose by 2.1% from year to year due to the price increase of fats, legumes and oil seeds, unprocessed grain and pork. In terms of annual variation, prices for housing goods and services, water, electricity, gas and other fuels rose by 0.9%. This is largely explained by the significant increase in the price of electricity (+5.8%). Again in terms of annual variations, the price increase for passenger transport services, especially by road (+1.4%) and by air (+5.2 %) is very closely connected to the increase in fuel

Annual variations in the cost of living in the Dakar region (in CFA francs)

01. 2017 01. 2018 01. 2019 01. 2020

P Consumer price for staples

Monthly rent Fragrant broken rice (kg) 408 407 407 433 Ordinary broken rice (kg) 292 296 296 308 Millet grain (kg) 254 250 250 280 Dried corn kernels (kg) 258 259 250 264 Sorghum grain (kg) 263 256 250 272 Wheat flour (kg) 409 400 392 409 Wheat couscous (kg) 971 1,005 1,055 849 Baguette (per piece) 158 150 154 146 Beef(kg) 3,294 3,047 3,360 3,382 Grilled mutton (kg) 5,083 5,333 5,333 4,235 Pink sea bream (kg) 2,006 1,783 1,887 1,957 Canned tuna (can) 750 741 766 760 Canned sardines (can) 474 465 448 396 Whole milk (liter) 1,106 1,141 1,158 1,063 Butter (package) 848 931 966 764 Peanut oil (liter) 1,448 1,448 1,405 1,393 Refined sugar (kg) 604 608 612 605 Modern villa 682,000 682,000 682,000 468,205

Modern apartment 179,000 179,000 179,000 116,000

Rent, hotel room

New passenger car

Luxury (per night) Standard (per night) Top of the line Standard General medicine Consultation

63,000 62,500 64,000 58,000 36,500 36,500 37,000 32,500 22,056,500 22,476,600 22,276,000 20,194,200 11,418,000 12,128,000 11,743,000 10,984,000 4,250 4,250 4,250 3,050

Average electricity prices

Consumer price petroleum products Low voltage (kWh) Medium voltage (kWh) High voltage (kWh) Butane 38 kg (bottle) Super gasoline (liter) Regular gasoline (liter) Diesel (liter)

122 110 65 115 112 106 105 115 79 84 79 86 19,000 19,000 19,000 19,000 695 695 695 775 665 665 665 665 595 595 595 655

Price of construction materials Fuel 180 cst (ton)

320,700 373,700 364,800 328,400 Cement 42.5 r (50 kg) 62,150 60,610 62,170 63,830 Gravel 5/16 – 8/16 (8 m3) 113,250 111,050 105,530 103,370 Dune sand (16 m3) 61,860 62,190 61,530 62,750

Source: National Statistics and Demography Agency