KEY POINTS
- Guinea is seeking to mobilise $200 billion in investment through 2040.
- The programme covers five pillars, 14 priority sectors and more than 122 major projects.
- The government is targeting infrastructure, agriculture, manufacturing, energy and technology alongside mining.
Guinea is seeking to mobilise $200 billion in investment over the next 15 years as the West African country pursues an ambitious economic transformation programme aimed at reducing its dependence on mineral extraction.
President Mamadi Doumbouya presented the country’s investment ambitions during the opening of the first Simandou Mining Summit on Wednesday, Nov. 11, on Kassa Island near Conakry. According to BIFinances, the four-day gathering brings together government officials, mining companies and international investors to explore opportunities under the Simandou 2040 development programme.
The investment target represents the estimated value of projects planned between 2025 and 2040, rather than funding already secured. The programme is designed to use Guinea’s mineral wealth as a foundation for broader economic development. Although mining remains central to the country’s economy, the government wants to expand local industries, improve infrastructure and create additional sources of economic growth.
Five pillars underpin development strategy
The Simandou 2040 programme covers five strategic pillars, 14 priority sectors, 36 reforms and more than 122 major projects. According to the programme’s official website, the investment plan will be implemented in three phases. The first phase, covering 2025 to 2030, targets $65 billion in investment. This includes $20 billion for the integrated Simandou iron ore project.
The second phase, running from 2030 to 2035, envisages $75 billion in investment, with emphasis on expanding local processing industries and strengthening Guinea’s position as an investment destination. The final phase, from 2035 to 2040, targets another $60 billion to consolidate economic development and promote regional integration.
Meanwhile, the broader programme extends beyond mineral extraction. Its priorities include electricity generation, transport infrastructure, agriculture, logistics, manufacturing, skills development and technology. These sectors are expected to create stronger connections between mining activities and the wider domestic economy.
Government seeks international partnerships
The investment strategy also outlines how Guinea intends to finance its development ambitions. The official programme identifies the private sector as a major funding source, with an estimated 40% contribution.
Government funding is expected to account for 30%, while the sovereign fund and international donors are expected to contribute 20% and 10%, respectively. However, achieving the investment target will depend on attracting long-term partners and translating proposed projects into bankable opportunities. The African Development Bank has already expressed support for Guinea’s development ambitions through the Simandou 2040 programme.
