Senegal is having a defining year. New oil production at the Sangomar field and gas exports from the Greater Tortue Ahmeyim project are fueling one of the fastest growth rates in Africa, with the economy expanding close to 7% in both 2024 and 2025. But that growth story took an unexpected turn in 2024, when the government discovered its public debt was far higher than previously reported, triggering credit downgrades from Moody’s and S&P and reshaping how investors view the country’s outlook.
Yet even with that pressure building, local investors have kept buying, pushing Senegal’s stock market to one of its best years in the region. This report examines the forces shaping Senegal’s economy, from its oil and gas boom to its debt sustainability challenge, and what investors should be watching through the rest of 2026.
