In a fresh sign of Senegal’s shifting economic strategy, the South Korean conglomerate DONEWON has announced plans to invest in the West African nation’s fisheries sector, with a particular focus on local seafood processing.
On Monday, President Bassirou Diomaye Faye welcomed a delegation from DONEWON at the Presidential Palace in Dakar. The delegation was led by the firm’s Vice President, Myoung Lee, who affirmed the group’s commitment to supporting the Senegal 2050 Agenda, the country’s long-term development framework.
“DONEWON is ready to actively contribute to the Senegal 2050 Agenda by investing in the processing and promotion of seafood products,” Lee stated during the meeting.
The Korean group, known for its expertise in fishing and seafood processing, aims to bolster the local value chain in Senegal’s fishing industry.
The Presidency shared the update through its official communication channels, highlighting the strategic nature of the partnership and its alignment with Senegal’s sustainable development goals.
This new collaboration reflects the government’s broader ambition to diversify international partnerships and reduce economic dependence on traditional allies.
Since coming to power in March 2024, the new administration under President Faye and Prime Minister Ousmane Sonko has pursued an assertive economic diplomacy agenda.
As part of this drive, Prime Minister Sonko recently concluded a high-profile visit to China, where he presided over an economic forum in Hangzhou.
The tour resulted in a series of bilateral agreements covering sectors such as infrastructure, energy, industry, and transportation.
The deal with DONEWON signals Senegal’s intent to not only attract foreign investment but also to ensure that such investments contribute to building local capacity and creating jobs.
The emphasis on processing within Senegal’s borders marks a departure from decades of exporting raw fish and seafood, often with limited economic return for local communities.
As the Senegal 2050 Agenda gathers momentum, partnerships like that with DONEWON may prove pivotal in transforming the country’s resource sectors into engines of sustainable growth and industrial development.
About The Author
