Although one of the poorest countries in the world, Guinea has vast potential for increased private sector development. The recent boom in the mining sector, in particular, is providing a catalyst for increased private sector activity across a wide range of sectors. Yet, for Guinea, this boom also comes with the risk of natural resource dependency, and therefore continued proactive efforts to promote diversification across the economy will be vital to Guinea’s economic future.
These opportunities and challenges are central to the analysis in the Guinea Country Private Sector Diagnostic (CPSD). The report reviews the recent rapid growth in mining, as well as hydropower, as a basis for analyzing wider opportunities and barriers to private sector development across the major sectors of the economy. The report also provides recommendations on key policy and regulatory reforms that will help to increase the private sector’s contribution to growth in Guinea in the years ahead. Note: This CPSD was prepared prior to the outbreak of COVID-19.