éléments de contexte sur la Guinée Conakry par Monaco Resources

par notre envoyé spécial EBRIMA TRAWALLY

Historical introduction by E.T. for Monaco resources

Historically, Guinea has been the main agricultural producer among the French colonies in West Africa. The sector is subsequently collapsed, making this country a net importer of food, despite many small landowners with its huge agricultural potential. The increase of foreign direct investment mainly to mining, have discouraged other foreign companies seeking to invest in agricultural projects in Guinea, such as the production of rice in the northern region of Boké.

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monaco resources group

The producers of Guinea have little or no access to finance for which it is difficult for them to plan improvements in their farms. Other problems include lack of existence of infrastructure, roads and services for the fast shipping of the goods perishable food, lack of cold storage suitable for this specific role, therefore, is difficult to have the products in local markets before they start to begin to spoil, not imagine what kind of difficulties the transport abroad can create. Some manufacturers are gearing up for the sale of dried food products, which are easier to carry, but they lack the machinery for the complete dehydration and skills necessary to make this a large-scale operation.

While foreign manufacturers are more sophisticated knowledge of sanitary and phytosanitary regulations, it is unlikely that the producers of Guinea can meet the standards required at this time. The possibility exists in Guinea to export bananas, pineapple, potato, mango, other fruits and vegetables, flowers and plants if these problems are overcome. These could act as a significant investment opportunities for businesses.

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monaco resources group

Main imports are food products (in pounds net, as of 2011): Rice (452 ​​million) Sugar (134 million), wheat flour (233 million) Cooking Oil (38 million), dairy products (€ 8 million)the largest providers of Guinea rice are Thailand, Bangladesh, Vietnam, Pakistan, China and Taiwan. Flour Imports come mostly in France. Suppliers of sugar Highlights include Belgium, France, Brazil and Senegal. Periodically, the government takes measures to protect domestic agricultural production. For example, in 2011 the government banned many agricultural exports, especially rice, believing that this would keep domestic prices.

Natural resources analysis by Monaco resources

The Country is a developing country that is richly endowed with natural resources, especially minerals, it possesses over 25 billion tonnes (Mt) of bauxite, it is believed that contains half of the world’s reserves. In addition, the country also has more than 4 billion tons of high quality iron ore, gold has a significant presence, and there are also reserves of diamonds, uranium reserves indeterminate and potential oil fields. Thanks to the favorable climate and geography Guinea has considerable potential for growth in agricultural and fishing. Are growing projects to invest in hydroelectric plants, in fact, the heavy rains and abundant waterways have a strong potential to generate enough electricity to power all over the country and even other surrounding countries.

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Infrastructure overview by ET for Monaco resources

The Guinea lacks the infrastructure capacity needed to support business activities advanced. Electrical service is uneven across the capital Conakry, which operate only three or four hours a day in some areas. Water service in the capital is also intermittent, and largely unsafe for consumption. In the interior of the country, access to electricity and water is widely available. Transport infrastructure, including roads, rail, and port system, is irregular and rapid deterioration, if the Government of Guinea has targeted the improvement of infrastructure as a priority for the coming years. Operating costs of telecommunications are high and the service is slow and subject to black-out because of the lack of equipment and an addiction to use satellite for the telephone connection and internet.

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Current framework : Monaco Resources point of view by ET

We have an important aspect to mention but without considering the merits is the strong dependence of the quarry Rio Tinto, but it have basically announced that it had frozen their investments in Guinea, Claiming That they are waiting for them to more stable and secure legal framework by the government , said a senior government official, Requesting anonymity. This element should not be underestimated both by the Government that by the fact that foreign investors will lead the government to orientate on the diversification of production sources and other investors may find fertile ground in other areas are still virgin.

Another key element is that in May 21, 2013 The Executive Board of the International Monetary Fund (IMF) has completed the second review of Guinea’s economic performance under a program supported by the Extended Credit Facility (ECF). The completion of the review enables the disbursement of an amount equivalent to SDR 18.36 million (about 27.4 million U.S. dollars).Guinea also has a considerable reduction of its foreign debt after reaching the completion point under the Heavily Indebted Poor Countries Initiative “(HIPC Iniaitiative) in September 2012. Continued strong commitment to the program policies and structural reforms will be necessary to consolidate macroeconomic stability, maintain debt sustainability, and promote sustainable and inclusive growth.So further progress in implementing structural reforms, will need to obtain a strong and sustainable growth and reduce poverty. Reforms key should continue to focus on improving the business climate and the electricity sector, and the management of the mining sector.All this aspects create favorable conditions for starting a business in Guinea.

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monaco resources group

Starting a business : Monaco resources advices

The technical process of starting a business in Guinea is theoretically simple. According to regulations of Guinea, the process is centralized at the Agency for the promotion of private investment (APIP), the office of central business registration. However, the largest investments have recently started directly via the Office of the President. The new government is eager to attract foreign investment and has made efforts to improve the process, certainly successful projects tend to be those that establish strong relationships with potential local partners.

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Marketing and communication strategies recommended by Monaco Resources

Distribution and Sales Channels Each sector has its own policy and network of sales and distribution. Sales of communications products usually occur through wholesalers who import in bulk for resale to small traders or distributors within the country. Retailers often import directly luxury consumer goods. In general, mining, utilities, and industrial companies conduct purchases of heavy equipment directly through suppliers. Service to the customer and should not ordinarily be expected, and are only possible if negotiated at the time of sale. Guinea has many outdoor markets, numerous small shops, and a couple of grocery stores of medium size.

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monaco resources group

Selling Factors / Techniques

The country’s official language is French, although many large traders are not flowing, and prefer to use local languages ​​(Peular, Malinke and Soussou). In addition, the literacy rate in Guinea is very low, with estimates that only 30% of the population is considered literate. Very few Guineans use English in business discussions. The friendship and trust are very important in the culture of Guinea. It takes time to build a relationship of successful work in Guinea. Effort, patience, and face to face contact are required to make a success of your business operations.

The new government is committed to address these problems, making the discussions and contract negotiations more transparent and spread between relevant ministries, but progress towards transparency has been slow.

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monaco resources group

E-commerce

Although there is limited internet connectivity available in Guinea, it is still a viable method or possible trade and promotion. Although work is underway to connect Guinea to the submarine cable.

Throughout this century, the agricultural sector in Guinea has been the subject of numerous development policy experiments. Before the French colonised the area, most agricultural activity was for subsistence or regional and local trade. With the French came the extraction of rural resources, the introduction of cash crops, and attempts to establish rural co-operatives as a means to improve production. But the farmers sought to ‘exit’ from these attempts to extract more out of their production. In independence, experimentation with rural co-operatives continued, though this time under a much more dominant state which also attempted to control all agricultural trade. Again, the farmers sought escape from this control. The involvement of the World Bank in Guinea’s agricultural sector in the 1980s following the change of government brought a new strategy for its development which relied primarily on the free market and which meant to reverse this phenomenon of ‘exit

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