Simandou could bring Guinea $2.5 billion in 2040
By the AFREEQUE newsroom, based on Africaguinée
The Simandou mining project is expected to bring the Guinean state $350 million in 2026, then about $1.5 billion a year before reaching $2.5 billion in 2040. Central Bank governor Karamo Kaba considers the revenue decisive for the economy, according to Africaguinée.
The Simandou mining project could generate $2.5 billion a year for the Guinean state by 2040, compared with $350 million expected in 2026, said Karamo Kaba, governor of the Central Bank of the Republic of Guinea (BCRG), at the closing of the UK–Francophone West and Central Africa Economic and Trade Forum on 21 October.
Revenue is expected to reach about $1.5 billion a year before rising to the forecast level for 2040. According to Karamo Kaba, other mining projects currently in operation bring in around $500 million for the state; Simandou could therefore generate as much in its first year as all those projects combined.
The governor warned that poor management of the influx of liquidity could fuel inflation. He said Guinea’s overall inflation rate had risen from 3% to 6% and that inflation was largely imported.
The expected revenue is part of Simandou 2040, presented on 1 October by Guinean President Mamadi Doumbouya as an economic lever. The WCAF V forum, which closed on 21 October, also highlighted financing for Guinean SMEs.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
