Market Report: Conakry, Guinea
By Philippe Doizelet on May 5, 2013
New Hotel Insights from latest Africa Market Report
Horwath HTL Consultants have released their latest Africa Market Report for 2013.
The Africa Market Report focuses on Guinea, with a past marked by almost half a century of dictatorship, has found it difficult to return to democracy since it became independent in 1958. The first democratic, free and fair elections organized in 2010 by the Transitional Government, led by General Sékouba Konaté, resulted in the election of Alpha Condé to the Presidency. The latter, using technical reasons as a cause, has postponed the parliamentary elections indefinitely, thus weakening the political situation further. It is worth noting that significant progress and the gradual return to the normalcy are occurring.
The progress made in the area of economic management with the restoration of tax control, has enabled the country to reach the HIPC initiative completion point in September 2012, thus paving the way for the revitalization of the Guinean economy and favourable growth prospects.