Business Profile
Economy
Niger is one of the world’s poorest countries, with a per capita annual income of around US$200. 90 per cent of the country’s inhabitants are employed on the land, although less than 5 per cent of the actual land area is cultivated. This already difficult situation is exacerbated by the ever-expanding Saharan desert, drought and problems with pest control. Less than one-tenth of the crops grown are cash crops (cotton and groundnuts), while the rest (sorghum, millet and rice) are staples grown for domestic consumption. Livestock rearing is very important, especially among the country’s nomadic population. In a good year, Niger is self-sufficient in basic foodstuffs; otherwise, the country needs food aid. Niger’s most valuable commodity is its uranium deposits – the country is one of the world’s largest producers. France and Japan buy the bulk of the uranium output but falling demand has reduced Niger’s receipts from this mineral. (Alleged attempts by Iraq to procure uranium from Niger have been the subject of recent controversy). Gypsum, coal and tin ore are also extracted in commercial quantities and there are proven deposits of other minerals, including copper, manganese, lithium, lead and tungsten. Oil deposits are also thought to exist. Niger has a little light industry, which produces food and drinks, textiles and cement.
From 1997 onwards, the government embarked on a programme of privatisation of the major public utilities at the behest of the IMF and World Bank. The process was delayed by the 1999 coup but several major sales have since gone through, along with an overhaul of the country’s financial systems. The following year, Niger was a beneficiary of the Heavily Indebted Poor Countries (HIPC) debt relief programme, while the World Bank and IMF have provided occasional packages of financial support. In the period since 2001, after several years of sluggish performance, the economy has grown, although not achieving such strong growth in 2004, at only 3.8 per cent. Membership of the CFA Franc Zone affords some monetary stability. France is the country’s most important trading partner, followed by Nigeria, Côte d’Ivoire, Japan and Germany. Niger is a member of the West African trading bloc, ECOWAS, as well as various other regional bodies concerned with economic co-operation.
Business
A lightweight suit and tie are generally acceptable. A knowledge of French is essential, as interpreters are not readily available and executives seldom speak English. Office hours: Mon-Fri 0730-1230 and 1500-1800, Sat 0730-1230 (winter); Mon-Fri 0730-1230 and 1530-1830, Sat 0730-1230 (summer).
Commercial Information
The following organisation can offer advice: Chambre de Commerce, d’Agriculture, d’Industrie et d’Artisanat du Niger, Place de la Concertation, BP 209, Niamey (tel: 732 210; fax: 734 668; website: www.ccaian.org).
|
