The Canary Islands meets with Senegal's leading food distribution companies
The government of the Canary Islands and the Industrial Association (ASINCA) highlight the growth forecasts that the Senegalese market offers for the consumption goods importation.
The Minister of Economy, Industry, and Trade of the Canary Islands, Pedro Ortega, maintained during his trip to Senegal different business meetings with the main commercial retails and companies of agri-food distributions in the African country, who shared the good expectations they have about the market growth.
The business meetings were attended by the Deputy Minister of Economic Affairs with the European Union, Alfonso Socorro, the General Director of Economic Affairs with Africa, Pablo Martín Carbajal, and the President and Vice President of ASINCA, Andrés Calvo and Gonzalo Medina, respectively.
Thus, the Canarian delegation met with the CEO of Grupo Casino(retail of supermarkets) Jean Manuel Materm, and with one of the owners of the import/export company KING SENGHOR products, Pierre Diogoye Senghor, who agreed that the growing of an upper middle class has improved the commercial forecasts of consumption goods in the African country.
The CASINO Group is a French company that owns 40 supermarkets in 5 African countries such as Ivory Coast, Senegal, Cameroon, Gabon, and Congo. It offers a wide range of products (more than 12,000), where around 85% is exported and, 15% are local.
On the other hand, KING SENGHOR is an African company created in 2012. It has experience in commercialization of Spanish products. In fact, 90% of their products imported come from Spain, including some Canarian foods, for example, Gofio (a flour made from roasted grains).
The Product Manager of the retail group Auchan also attended the meeting. Auchan is a multinational corporation that belongs to Alcampo. It has more than 20 selling points in the country. The Product Manager, the Canarian councilor and the representatives of ASINCA held a meeting before, during Pedro Ortega's first official trip to Senegal, in October 2017.
The Minister explained that the purpose of these meetings is to encourage and establish alliances with local partners to open new commercialization markets for the Canarian industry. He also recalled that Senegal is a priority country for the Internationalization Strategy that the regional government is developing and which aims to help Canarian companies to access new markets. It is also a fundamental key for positioning the Canary Islands as a service platform to Africa.
Actually, and removing energy products, food is one of the three products lines that are more exported from the Canary Islands to Senegal. In 2017, Canarian sales food increased by 110%, compared to 2016.
Even so, the Minister recognizes that the presence of Canarian products in Senegal, especially agri-food products, are not very representative considering that the growth margin is very broad.
Translation of the Canarian Goverment press article, available at:
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.
Get in touch today to arrange an introductory conversation for more information.
London Tel: +44 207 129 7086
Spain Tel: +34 910 085 807