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The
Republic of Guinea (also
called: Guinea-Conakry) is located in Western Africa, bordering the North
Atlantic Ocean, between Guinea-Bissau and Sierra Leone
Total
area: 245,860 sq. km
Bordering countries:
Guinea-Bissau over 386 km, Cote
d'Ivoire over 610 km, Liberia over
563 km, Mali over 858 km, Senegal
over 330 km, Sierra Leone over 652
km
Coastline: 320 km
Population:
7,405,375 (July 1997) 9,030,220 (July 2003 est.); Population growth
rate: 1.1% (1997); 2.37% (2003 est.)
Capital-City:
Conakry
Independence from France: October
2, 1958
National holiday: Anniversary of the
Second Republic: April 3 (1984)
Constitution
(Loi Fundamentale): December 23, 1990
President Lansana CONTE (head
of military government since 5 April 1984, elected President on December 19, 1993.
Reelected on December 14, 1998.
Natural resources:
bauxite, iron ore, diamonds, gold, uranium, hydropower, fish
Agriculture
productions: rice, coffee, pineapples, palm kernels, cassava, bananas,
sweet potatoes; cattle, sheep, goats; timber
Industrial
productions: bauxite, gold, diamonds; alumina refining; light manufacturing
and agricultural processing industries. Industrial production growth
rate: 3.2% (1994)
In spite of being endowed with aplenty of
natural resources: water, forests and mineral deposits (30% of world's bauxite
ore), Guinea is listed according to UNDP as one of the poorest countries in the
world.
The main reason for that dated back
to the first years of the independence. The narrow and dogmatic political vision,
the sheer lack of economic training of the founding father: Ahmed Sekou Toure,
were simply real hindrances for the harmonious economic development of Guinea.
When in 1958, France decided to grant Self Government to its colonies in
Africa, the choice was between Self Government status - with Money matters,
International Relations and Defense under France's responsibility - or "immediate
independence".
On October 2, 1958, under the leadership of Ahmed
Sekou Toure - a self made man / trade unionist / populist politician - Guinea
singled out and chose "immediate independence".
Overnight
the country became independent.
French administrators, in Guinean
provinces / "Cercles", instantly dropped duties; withholding vital administrative
documents, maps, statistics. Etc. The local currency - the Franc CFA, common to
the members entities of the Afrique Occidentale Française - French
West Africa Territories: Benin (Dahomey), Niger, Ivory Coast,
Sudan Français (Mali), Senegal / Mauritania, Niger,
Upper-Volta (Burkina-Faso) - becoming de facto non valid. Click
here to choose / view countries briefs
Enthusiastic African scholars
and nationalists from other African countries flocked in to Guinea to assist the
new authorities manage the independence era. The euphoria lasted two years. End
of 1960 most of them have already left disillusioned by the autocratic, repressive
and dogmatic political management style adopted by Sekou Toure. Around 1962-1963
the country entered slowly into economic depression, which aggravated year upon
year. Till his death, on March 26, 1984, Sekou Toure deployed infinite skills
to survive alleged and true political plots. He was a populist politician; a survivor.
Not an economist. His legacy is still, one way or another,
having a certain impact on the social, cultural, economic and political life of
Guinea.
The new military regime that seized power on April 3,
1984 .- headed by the Army Chief's: Lansana Conte - inherited a broken economy.
Since then - apart from the short period, from July 1996 to July 1998, during
which Prime Minister Sydia Toure implemented, with some success, a restructuration
program, Guinea's economy had been an ailing one.
Agricultural sector
employs 80% of the work force and contributes to only 24% of the nation's GNP.
However, no strategic scheme had never been devised to systematically exploit
to the maximum the huge agriculture potential of the country endowed with an incredible
hydropower system to creating a strong agribusiness industry.
In
the contrary, Guinea's national budget relies heavily on revenues from the exploitation
of the mineral sector, which accounts, year in year out, for 75% of exports.
One also notices that the legal framework is not attractive enough to Foreign
Direct Investment. Indeed, the Mining Industry being an exception, foreign investment
remains minimal.
In addition, there is a persisting internal political
tension due to the fact that multiparty democracy is constantly challenged by
the government of President Lansana Conte.
The recent modification
to the Constitution (Referendum held on November 11, 2001) to allow Lansana Conte
to run is a constant divisive line between the opposition parties and Conte's
followers.
Amid recriminations from opposition's parties, Lansana Conté
had been reelected president (December 21, 2003 ballot). According to the Supreme
Court's declatration on January 9, 2004, President Lansana Conte got 95.25% of
the ballots against 4.75% for the leader of a tiny opposition party, Mr. Mamadou
Bhoye Barrywho, who is the only opposition leader to run against Conté.
Indeed, the heavyweights of the opposition boycotted the election.
It
will be interesting to see how President Conté will handle the situation
in the near future as he is seriously ill. One can prophesy that the country is
entering a dangerous political turbulence zone with a completely shattered economy.
On April 24, 2004, two months after being appointed Prime Minister, Mr.
François Lonsény Fall resigned. The extraordinary of the situation
is that he did so from abroad attending an international conference at Paris -
France on the River Niger's Basin Authority. Indeed, from Paris on April 29, 2004
he dispatched an antedate (April 24, 2004) resignation letter to president Conté.
The reason for resignation: is stated as follows: The impossibility to work and
implement necessary reforms to revamping the economy due to the permanent obstruction
exercised by the presidential political "clan".
Fall's letter
of resignation was subsequently published on the Canada-based Guinean news website
Boubah.com and the international
weekly news magazine Jeune Afrique l'Intelligent.
Due
to the huge natural resources, there are business opportunities in all sectors
of economic activities.
Courtesy
of BusinessAfrica - Investment and Business Planners - Click
here for an economic strategic scheme suitable for Guinea which closely
links agriculture, industries and services.
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