Top 5 Reasons to Invest in Guinea-Conakry

Guinea-Conakry has geological features that offer high potential for both mineral and natural resource deposits. Coupled with an enabling environment for foreign investment owing to recently reformed fiscal terms and policies, the country has emerged as a highly attractive investment destination for both energy and mining companies worldwide.

Abundant Mineral Resources

Guinea-Conakry is endowed with extensive and diversified mineral deposits.

The country has the world’s largest bauxite reserves, with current estimates measuring 7.4 billion tons, and represents the world’s second largest exporter of the resource. Additionally, the country is rich in iron, gold, diamonds, silver, manganese and granite. Since 2010, over $42 billion in contracts have been inked across the mineral industry, showcasing the significant potential for investors.

Untapped Hydropower Potential

Guinea-Conakry possesses abundant water resources, leading to a focus on hydroelectric power plants for renewable energy generation. With rivers like Niger, Senegal and the Gambia, as well as over 1,300 watercourses country-wide, the country’s hydropower potential exceeds 6,000 MW. Projects like Souapiti (450 MW) and Kaleta (240 MW) have boosted electricity supply, while the Amaria power plant (300 MW) is under construction. By 2025, hydropower aims to account for over 80% of Guinea’s installed capacity, offering lucrative opportunities for hydro-players and investors.

Promising Oil and Gas Reserves

Guinea-Conakry, part of the MSGBC region, has significant oil and gas potential. While commercial oil discoveries are yet to be made, recent sizable offshore finds in the broader MSGBC basin have made the country’s offshore market highly enticing. With a proposed 22-block licensing round covering 55,000 km2, Guinea-Conakry aims to capitalize on the region’s hydrocarbon boom to accelerate offshore E&P activities in-country. The establishment of Guinea-Conakry’s national oil company Société Nationale de Petroles in November 2021 further demonstrates the country’s commitment to improving efficiency and encouraging collaboration in the hydrocarbon industry.

Improved Ease of Doing Business

Guinea-Conakry has undertaken substantial reforms to attract international investors, and now offers a highly competitive legal and regulatory framework. The Investment Code was updated in 2015 and a new Public-Private Partnerships (PPP) law passed in October 2017 – providing a secure framework for PPP projects. The process for starting a business is centralized within the Agency for the Promotion of Private Investment (APIP), a structure which ensures transparency. The APIP implemented a website in 2016 to further streamline procedures for new investors. As such, investing in Guinea-Conakry has never been easier.

Ongoing Infrastructural Expansion

Guinea-Conakry’s energy market is still in its infancy stage, and will require substantial investments in infrastructure to support the growing industry. In this scenario, there lies abundant opportunities for companies across the entire energy value chain, particularly construction firms to help build railways, ports and roads. Progress has already been made with developments such as advanced fiber optic coverage and the modernization of the Port of Conakry, both of which demonstrate the potential and need for large-scale infrastructure projects. However, much more capital and development is required to support the growth of the country’s energy sector.

International investors are invited to attend MSGBC Oil, Gas & Power 2023 – taking place from November 21-22 in Nouakchott, Mauritania, under the patronage of Mauritania’s President Mohamed Ould Ghazouani. During the event, Guinea-Conakry’s Minister of Energy, Hydropower and Hydrocarbons Aly Seydouba Soumah will showcase the range of investment opportunities available across the country, connecting potential players with lucrative deals. For more information, click here.

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Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.