Interview with Mohamed Ould Bouamatou, Head of BSA Group Unveiled
In a bold declaration, Mauritanian businessman Mohamed Ould Bouamatou has expressed optimism for the future of his country, asserting that it has the potential to become the Dubai of West Africa within this decade. Speaking at the fourth edition of the Financial Afrik Awards in Nouakchott, Bouamatou, the head of Bouamatou Société Anomyme (BSA), praised the current decade under President Mohamed Ould Ghazouani as one of hope and serenity.
Bouamatou, who spent years in exile, has returned to Mauritania following the changes under the new regime. He criticized the previous regime for preventing anyone from doing business except a small inner circle, costing the nation a whole decade. He also accused the ex-President Mohamed Ould Abdel Aziz of using power as a shortcut to enrich himself.
However, Bouamatou encourages foreign investors to invest in transparent projects and to behave flawlessly in Mauritania, just as they would in their own country. He believes that the current political stability and investor-friendly policies make Mauritania an attractive destination for foreign investors.
Mauritania, rich in resources, boasts a 600-kilometer coastline, 600 kilometers of river, gold mines, and iron mines. The government has implemented pro-business reforms, including attractive tax and customs incentives, and established a supportive legal and institutional framework to encourage foreign direct investment.
Key prospects for investment in Mauritania include energy, fisheries and aquaculture, agriculture, infrastructure, and more. The country's significant potential in solar, wind, and green hydrogen projects, coupled with a gas monetization strategy, positions Mauritania as a renewable energy leader. The fisheries sectors benefit from a strategic geographic location and are supported by Senegalese-American partnerships in offshore gas development.
Opportunities exist in drip irrigation, climate-resilient farming, and drought-resistant seed technologies, especially in southern and central Mauritania. There are ongoing and planned investments in roads, bridges, airports, and public buildings, supported by foreign partners like Spain.
Mauritania's Investment Code and the Agence de Promotion des Investissements en Mauritanie (APIM) provide streamlined business registration, land access, and investment facilitation. Incentives include tax holidays up to 10 years for priority sectors, duty-free importation of investment-related materials, full repatriation of profits, and planned special economic zones (SEZs) offering infrastructure and tax advantages near Nouadhibou and the Senegal River Valley.
The country benefits from growing international partnerships, including high-level engagements with the U.S., Spain, and OPEC Fund for International Development, which help mitigate sovereign risk and mobilize blended finance for sustainable growth.
Bouamatou expects this decade to be the one of food self-sufficiency and the emergence of Mauritania. He believes in the prosperity of Mauritania and does not subscribe to projections for a developed Africa by 2050. Instead, he emphasizes the need for food security and equality between people, peace of mind, encouragement for new investments, and the revival of business in Mauritania during this decade.
In a final appeal to foreign investors, Bouamatou assures them that they will no longer have to go through the members of the previous regime to do business in Mauritania. He invites them to invest in Mauritania and contribute to its transformation into a regional hub for energy transition, natural resources, agriculture, and infrastructure development.
- Bouamatou, while encouraging foreign investors, emphasizes that Mauritania offers attractive destinations for investment, particularly in sectors like energy, fisheries, agriculture, infrastructure, and renewable energy, thanks to the current political stability, investor-friendly policies, and pro-business reforms.
- Bouamatou, the Mauritanian businessman, who returned following the changes under the new regime, critiques the previous regime for preventing business opportunities and promoting self-enrichment, a situation he believes cost Mauritania a whole decade of potential growth.
- In his vision for Mauritania's future, Bouamatou envisages a self-sufficient food economy and the country's emergence, prioritizing food security, equality, and investment revival during this decade, rather than waiting for a developed Africa by 2050.