Senegal’s Extractive Industries Transparency Initiative (CN-ITIE) has reported revenues of 236.59 billion CFA francs (approximately 391.49 million USD) from the extractive sector for the first half of 2024, with 225.49 billion CFA francs directed into the national budget.
The mining sector accounted for nearly 80% of the total, contributing 187.35 billion CFA francs, driven by gold and cement production, while the hydrocarbons sector added 45.79 billion CFA francs—an increase of over 15 billion compared to 2023—primarily due to exceptional payments by Woodside Energy Senegal.
Extractive exports stood at 468.42 billion CFA francs, with phosphoric acid and gold leading, while 92% of the sector’s 1,773 employees were nationals.
Companies declared 19.78 billion CFA francs in total payroll, and social expenditures reached 2.57 billion CFA francs, mostly directed towards education and local infrastructure.
Environmental commitments also featured prominently, with 972.10 million CFA francs in deferred environmental expenses, largely covered by the Chemical Industries of Senegal. Environmental taxes totaled 173.62 million CFA francs, mainly from Grande Côte Opérations and SOCOCIM.
Local economic impact was notable, with 342 billion CFA francs—nearly 40% of total sector transactions—spent on local suppliers. The mining sector contributed 193.90 billion CFA francs in local purchases, led by SOCOCIM, SGO, and ICS, while the hydrocarbons sector recorded 148.10 billion CFA francs in local transactions, dominated by Woodside Energy Senegal.
