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Amedee Assomo, DHL Express country manager, discusses business trends and untapped opportunities in Guinea.
Name one trend impacting the way business is being done in your country.
From my experience of doing business in Guinea, cash is definitely king. This goes for our business as well as other industries. The reason for this is the volatility of the currency market in Guinea. The national currency is not very stable compared to trade currencies such as the US dollar or euro.
What is the greatest misconception about doing business in Guinea?
Corruption is often exaggerated. The administration has made tremendous efforts to create a stable environment in order to facilitate business.
Identify the biggest untapped business opportunity in Guinea.
Guinea’s mining sector remains unexploited. The country is blessed with numerous resources, such as bauxite, diamonds, gold and iron ore. Providing services to the mining industry – such as transport, communication and banking – will also be good investments.
Describe some of the challenges investors can expect to encounter when doing business in your country.
Infrastructure in Guinea is under developed and this is a real challenge for all industries. Finding skilled manpower or qualified human resources is also challenging.
Name one local business person you admire.
One of the businessmen I admire is Mr Kerfalla Camara, the owner of Guicopres Group. He is a self-made young man who believed in the potential of Guinea and demonstrates that, with a bit of determination, one can accomplish great things.
How do you see the business environment and economy change over the coming years?
I believe that the focus on bringing the administration more in line with global standards; the infrastructural investments; and the promise of direct foreign investments, like the one of Rio Tinto in the mining industry, will set the pace for sustainable growth in Guinea.
Name one tourist attraction visiting business people shouldn’t miss.
The Fouta Djalon highland region (Labé city) is a beautiful sight.
[box type=”note”]Meet Amedee Assomo
1. By what time in the morning do you like to be at your desk? 8am sharp
2. How do you relax? Gym and swimming
3. Best book you’ve ever read? Organization, by John Child
4. Top holiday destination? Cameroon, my home country
5. Favourite quote? Perseverance and patience – that is the key of success.[/box]