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  • Novara Capital Group

Canary Islands – Commercial Gateway to Africa

Gateway to Africa

Tenerife is an ideal location if you are interested in maintaining commercial ties with Africa since our business folk have the experience and contacts to help you develop any project on the continent.

The Canary Islands exports to 44 of the 54 countries in Africa. In 2012, the archipelago was the top Spanish region for exports to Mauritania, Togo, Cape Verde, Liberia, Guinea Bissau and the Comoros, and the second to the Gambia.

In 2012, Canary Island exports to the African continent reached 207.42 million euro. Looking at the last five years, the archipelago has exported a total of 1.172 billion euro, representing 11% of all Canary Island exports over the period.

The ten main African markets for Canary Island exports in the last five years were: Morocco (€377.60 million), Mauritania (€217.49 million), Nigeria (€108.73 million), Cape Verde (€88.04 million), Liberia (€84.96 million), Togo (€76.05 million), Equatorial Guinea(€75.92 million), Senegal (€59.95 million), Côte d’Ivoire (€52.74 million) and Guinea (€44.79 million). Out of these, the highest increases in the last five years were seen in Equatorial Guinea (320.5%) and Togo (232.6%). Alongside these historical markets for the Canaries, Angola is also gaining weight, recording exports from the islands in 2012 of 9.17 million euro.

The main export products in the Canary Islands and shipped to Africa in 2008-2012 were fuel and mineral oils (€603.83 million), machinery and mechanical equipment (€137.79 million), fish, shellfish and molluscs (€91.79 million), cars (€49.95 million), and electrical equipment and material (€26.23 million).

There are currently over 200 Canary Island companies installed in Africa, operating in different sectors in different countries such as Morocco, Cape Verde, Senegal, Mauritania, Ghana and Equatorial Guinea making the Canary archipelago a privileged access point for markets on the west coast of Africa.

Post from Why Tenerife.


Novara Capital Group is an international tax & capital investment consulting firm. We specialise in Corporate Structuring, European Union Tax Incentives, IP Positioning, and Transactions / M&A. We provide intelligent corporate structures, advice, and an integrated service which cross delivers in businesses. We advise companies globally to accelerate international growth, optimise net profits, and enhance equity value leveraging Intellectual Property and Licences. Our in-house experts specialise in International Tax Law, Company Law & Cross Border Jurisdiction, Investment & Asset Management, Mergers & Acquisitions, and Operational Management.

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