Determinants of conducting business by Polish enterprises in Senegal

Abstract

Purpose: The purpose of the article is to analyse economic and legal conditions, educational cooperation, and attractiveness of Senegalese market for Polish entrepreneurs. The author tries to assess whether the potential that lies dormant in this African country is sufficiently used by Polish entrepreneurs. He identifies problems which may affect Polish expansion into this stable and rapidly growing market. Design/Methodology/Approach: Observational method complemented by an intuitive method with the use of arguments to general statements drawn from personal experience. Findings: The presented economic, legal, and political conditions do not confirm that Senegal is not an attractive country to carry out investment projects by Polish entrepreneurs and to conduct bilateral trade transactions. The huge potential of Senegal has been recognized for many decades by European and world economic powers. Practical Implications: Senegal is among the African countries with one of the lowest capital risk premiums. The ease of doing business index developed for Senegal is another argument that certainly should not discourage potential entrepreneurs from doing business in the country. Senegal's membership in numerous international organizations indicates its openness to broad economic cooperation. Originality/value: Thanks to favorable economic, legal, and political conditions, as well as long-term educational cooperation, Senegal may be an attractive country for Polish entrepreneurs to implement investment projects and bilateral trade transactions and obtaining foreign capital for their implementation does not have to be difficult.