On the occasion of his official visit to Monaco to present his Letters of Credence to His Serene Highness Prince Albert II, H.E. Mr. Senkoun Sylla, Ambassador of the Republic of Guinea, was welcomed by the Monaco Economic Board (MEB) for a business lunch focused on strengthening economic ties and outlining Guinea’s major development opportunities…
Speaking to MEB members, Ambassador Sylla described Guinea as a “country blessed by the heavens,” highlighting its unique geographical and mineral wealth. Known as the “water tower of West Africa,” Guinea is the source of many major rivers in the region and holds vast untapped natural resources. The Ambassador also referred to the country’s subsoil as a “geological scandal,” due to its extraordinary mineral concentration.
Central to Guinea’s development strategy is the Simandou project, one of the world’s largest iron ore reserves. Backed by the country’s leadership, the project involves the extraction of high-grade iron ore, the construction of a 650 km railway, and a new deep-water port. With an estimated investment of over 40 billion dollars, Guinea is actively seeking international partners to help realise this transformative initiative.
Ambassador Sylla emphasised Monaco’s potential role, noting the Principality’s well-established expertise in finance and its community of dynamic entrepreneurs. The event provided a platform to explore how Monaco’s business network could engage in Guinea’s ambitious development efforts and contribute to long-term, sustainable economic growth in West Africa.
Image: Monaco Info
