Post #357

UAE Expansion Into Senegal The UAE has staked out projects in Senegal’s most sweet sectors of gold, logistics and gas 🇸🇳 During a visit on 10 December, an Emirati delegation led by the UAE Minister of Foreign Tradesealed several agreements with Senegalesegovernment and state-owned enterprises transferring the implementation of projects in Senegal's key resource sectors to Emirati companies. ⏩ Above all, the Senegalese state-owned Société des mines du Sénégal (SOMISEN) signed an agreement with the Emiratis to help create Senegal's new National Gold Trading Centre. The National Gold Trading Centreannounced on 12 November is Senegal's attempt to establish a national centralized hub for buying and sellinggold, which will serve as an official bridge between production (above all, artisanal mining) and subsequent sales. ⏩ Besides, state-owned mining companies and Emirati firm Resources Investment agreed to develop jointly logistics infrastructure and iron mines. ⏩ Senegal's national gas distribution company Réseau gazier du Sénégal (RGS) signed several contracts with Emirati company Equiline Energies, which specialises in gas exploration. 🔸 The most important element is arguably the agreement on the National Gold Trading Centre. Now the Emiratis will help set up this centre, which means the UAE has managed to inserted itself into the country's main mining sector, which accounts for about 30% of Senegal's total extractive exports. ➡️ Follow to stay informed - @devilsbelow