Opened in 1912, Geni & Kebe is one of Senegal’s oldest law firms. How has the company evolved in the last year?

Geni & Kebe continues to provide corporate, employment, finance, IP, regulatory, and tax services to both public and private clients. In the past few years, the firm has welcomed new people and expanded its capacities. Geni & Kebe is part of the Swiss-based network called DLA Piper Africa, which includes 20 African law firms. Thanks to our membership to DLA Piper Africa and the robust relationships we have forged with DLA Piper Global our practice can tap into global expertise and network.

What are the key demand trends among mining clients and governments?

We are really looking at a mix, though there are some common themes that emerge. Right now, we are spreading ourselves across the region to work on an acquisition in Niger by a Chinese client; we also offer corporate management advisory and compliance services to miners in Senegal, while, on the government side, we assist the Burkinabe government to review mining licenses, and in Chad we again work with the government to create a new legal framework for the energy sector. African governments are becoming more aware of the need to create a fair balance of interests between the state and investors; within this trend, amendments in mining legislation have tended to incentivise investors while also ensuring equitable benefits to the local population. Another trend is that local populations demand better transparency, not just from their governments, but also from corporations.

Senegal recently introduced local content regulation specific to the mining sector. Could you comment on this change?

The local content law entered into force on 23 May 2022 and was designed in line with recommendations from the African Union, ECOWAS, and WAEMU, with the objective to optimize revenues from the extractive industries and improve the living conditions of the population. Under the new law, all contractors, subcontractors, service providers and suppliers directly and indirectly involved in mining activities are subject to the following requirements: Elaborate a local content plan specific to each mining operation; take out insurance and reinsurance policies and apply for financial services; promote and use local goods and services; ensure local employment and professional training; engage local intellectual services; carry out the classification of mining activities; ensure transfer of technology, skills and research and development.

How is Senegal’s economy recovering after the pandemic?

With Covid behind us, a lot of economic indicators are returning to growth, and infrastructure projects that had been put on wait have been resumed. The construction sector is booming. Big port updates and investments are also back on track. As part of a broader connectivity project, Senegal has commissioned the revamping and expansion of five airports and we were the advisors to the lenders for the project. Senegal is not alone in this strong comeback: Ivory Coast, Benin, and Togo have all seen a steady return to growth, with big investments underway. Anglophone countries in the region, like Ghana and Nigeria, have a more subdued growth, being more strongly impacted by the global economic turmoil, while Guinea, and Mali suffer due to political instability and a surge in terrorism.

What are the main dynamics in the Senegalese labor market?

The labour market is very dynamic and we have many talented young people willing to work but sometimes the formal education they receive is inadequate to prepare them for the corporate world. Through the ‘Opportunity for fresh graduates’ program that Geni & Kebe runs, we can see first-hand the huge discrepancies between what students learn and what the market needs. Universities must review their structure and add more practical courses. Another interesting dynamic is the return of accomplished young Africans, after studying overseas, to work in their home country, even though they may need to adapt to lower wages.

Do you have a final message for our audience?

The extractive industries are central to Africa’s revenue generation and growth, but Africans must make sure that the interests of both investors and the population are well served. Moreover, African nations should not only rely on a single revenue source, but diversify their economies – this is a repeated lesson that history has shown us.