Mauritania Investment Landscape
This page provides a sourced overview of Mauritania’s economy, investment activity, productive sectors, major projects, and operating conditions to support investors’ initial assessment.
Economic Structure & Outlook
Mauritania’s growth profile combines a large extractive base with expanding non-extractive activity. The figures below distinguish reported outcomes from estimates and projections, because revisions between data releases can materially affect investor interpretation.
Indicator
2024 Actual
2025 Est.
2026 Proj.
Real GDP growth
6.3%
4.0%
4.7%
Extractive GDP growth
1.9%
-0.6%
6.3%
Non-extractive GDP growth
7.3%
5.1%
4.3%
Consumer prices
3.1%
4.1%
4.5%
Public-sector debt
43.5%
40.7%
37.6%
Current-account balance
-9.4%
-3.4%
-5.8%
Trade & Foreign Investment Profile
Mauritania’s external trade is substantial relative to the size of its economy, but exports remain concentrated in a limited number of commodities and destination markets. Foreign investment has also been strongly influenced by large extractive projects.
2024 Merchandise Trade
Mauritania exported US$4.15 billion and imported US$4.82 billion in merchandise in 2024. The resulting merchandise trade gap was approximately US$0.67 billion.
Export Concentration by Product
Gold, non-agglomerated iron ore, frozen octopus, and copper ores represented 78.4% of merchandise exports in 2024. This concentration links export performance closely to commodity prices, production volumes, and sector-specific logistics.
Main Export Destinations
Canada, China, and the European Union received 67.2% of Mauritania’s merchandise exports in 2024. Market concentration should therefore be considered alongside product concentration when assessing external demand risk.
Historical FDI Concentration — 2022
UNCTAD reported that oil and gas accounted for 94% of Mauritania’s foreign direct investment inflows in 2022. This historical figure illustrates the strong influence of individual extractive projects; it should not be presented as the current annual FDI share.
Sector Landscape
The investable landscape is not uniform. Each sector differs in maturity, infrastructure requirements, regulatory pathway, market structure, and exposure to external demand. The overview below is a screening tool, not a substitute for sector-specific due diligence.
Mining & Mineral Value Chains
Gold, iron ore, and copper dominate merchandise exports. Opportunities may extend beyond extraction into processing, maintenance, equipment, transport, and local supply chains, but access, licensing, infrastructure, and commodity exposure must be assessed project by project.
Natural Gas & Energy Services
The Greater Tortue Ahmeyim project moved into operations when gas began flowing on 31 December 2024, followed by its first LNG cargo in April 2025. The cross-border Mauritania–Senegal project creates demand for specialized services and logistics, while future phases remain subject to commercial and investment decisions.
Fisheries & Blue Economy
Frozen octopus alone represented 9.2% of merchandise exports in 2024, with other fish products also present in the export basket. Investor assessment should address resource management, cold-chain capacity, processing economics, market access, and applicable licensing.
Agriculture & Livestock
Agriculture and livestock form part of the country’s diversification agenda, with potential in production, storage, processing, and distribution. Commercial viability depends heavily on water availability, logistics, land and operating arrangements, climate exposure, and access to reliable market channels.
Renewable Energy & Green Industry
Mauritania has large solar and wind resources and an active policy and project-development agenda. Current World Bank-supported programs focus on grid reinforcement, energy storage, renewable-energy deployment, and enabling frameworks. Resource potential must not be confused with installed capacity or bankable project output.
Digital Economy & Business Services
Broadband, digital public services, financial technology, and professional services are enabling layers for investment across sectors. The World Bank’s 2025 digital assessment identifies broadband expansion and stronger digital public platforms as continuing priorities; investors should verify service availability and regulatory requirements for the intended business model.
Major Projects & International Investors
Selected operating platforms show the scale and technical complexity of investment already present in Mauritania. The examples below are evidence of activity, not endorsements or forecasts of investor returns.
Greater Tortue Ahmeyim LNG
The cross-border Mauritania–Senegal GTA project began flowing gas on 31 December 2024 and exported its first LNG cargo in April 2025. Phase 1 is expected to produce around 2.4 million tonnes of LNG per year. The project is led by bp with partners including Kosmos Energy, SMH, and PETROSEN.
Tasiast Gold Mine
Tasiast is a large-scale open-pit gold mine in northwestern Mauritania operated by Canada-based Kinross Gold. Kinross reported that Tasiast met its 2025 annual production and cost guidance and was the highest-margin operation in its portfolio for the year.
SNIM Integrated Iron-Ore Platform
SNIM reported iron-ore sales of more than 14.71 million tonnes in 2025. Its integrated system includes mines, an ore railway of more than 700 kilometres, and a loading port in Nouadhibou. SNIM also reported 7,003 direct jobs, 150 national suppliers, and US$77.5 million in local purchases for 2025.
Infrastructure & Market Access
Infrastructure availability varies materially by location and project type. Investors should assess the complete route from site to power, water, digital connectivity, domestic markets, and export gateways rather than relying on national-level descriptions alone.
Ports & Maritime Access
Nouakchott and Nouadhibou provide Atlantic gateways with different traffic profiles. Project assessment should verify berth availability, handling capability, storage, customs processes, inland connections, and the suitability of each port for the intended cargo.
Zouerate—Nouadhibou
Mining Corridor
SNIM operates a railway of more than 700 kilometres linking the northern mining area to its loading port in Nouadhibou. The corridor is a specialized iron-ore system and should not be presented as general-purpose national freight capacity.
Grid, Storage & Regional Power Trade
Current programs aim to reinforce the national grid, expand electricity access, add energy storage, support renewable-energy deployment, and connect Mauritania more closely to the West African Power Pool. Availability, cost, connection timing, and backup requirements remain site-specific investor questions.
Digital Infrastructure & Public Services
Mauritania’s digital agenda prioritizes accessible broadband infrastructure and modernized public administration. The 2025 World Bank assessment also identifies continuing gaps, so investors should verify connectivity, redundancy, cybersecurity, and digital-service availability for the proposed location.
Investment Framework & Investor Considerations
Mauritania’s 2025 Investment Code establishes the general framework for eligible investment, but several sectors remain governed by sector-specific legislation. Incentives and protections should therefore be assessed against the investor, activity, location, and applicable regime.
Investment Framework & Business Conditions
Scope & Sector Exclusions
Law No. 2025-006 of 19 February 2025 establishes the general Investment Code. Banking, leasing, insurance, reinsurance, mining, hydrocarbons, and green hydrogen are among the activities governed wholly or partly by separate sector-specific frameworks; resale of movable or immovable property is also outside the Code’s investment scope.
Preferred Investment Regimes
The Code provides three preferred regimes: the Basic Incentive Regime, Development Poles Regime, and Structuring Investments Regime. Eligibility, thresholds, benefits, and obligations differ by regime and project.
Investment Certificate & Compliance
Eligible projects apply for an Investment Certificate. Under the Code, certificates are valid for eight years under the Basic Incentive Regime and ten years under the Development Poles and Structuring Investments regimes. Preferred-regime projects are subject to defined obligations, including applicable environmental requirements.
Transfers, Protection & Disputes
The Code addresses equal treatment, protection against unlawful expropriation, and transfer of invested capital and eligible income, subject to taxes, foreign-exchange rules, and applicable law. It prioritizes amicable settlement of disputes and provides defined routes to arbitration, including in qualifying cases.
APIM states that company-registration procedures and Investment Certificate applications can be submitted through its services, including the Khidmaty digital platform. This is a submission channel, not a guarantee of approval or processing time.
Investor Considerations
The principal investor question is not whether a national opportunity exists, but whether a specific project can secure the required market, permits, infrastructure, financing, skills, and risk controls on acceptable terms.
Commodity & Market Concentration
Four product groups represented 78.4% of merchandise exports in 2024, and three destination markets received 67.2%. Investors should test price, buyer, logistics, and demand concentration under downside scenarios.
Infrastructure Reliability by Location
Power, water, transport, port handling, and digital connectivity can differ significantly by site. Technical due diligence should confirm capacity, connection schedules, service quality, redundancy, and total delivered cost.
Finance, Foreign Exchange & Banking
The IMF reports progress in financial-sector and foreign-exchange reforms, while also calling for deeper FX markets, stronger liquidity management, and more effective banking supervision. Financing structures and currency-conversion arrangements should be verified before commitment.
Workforce & Supplier Capacity
Labour availability does not automatically imply the availability of project-specific technical skills. Investors should assess recruitment, training, expatriate requirements, local supplier capability, and compliance obligations early in project design.
Regulatory & Execution Path
Licensing, land, environmental review, customs, tax treatment, sector rules, and contractual approvals differ by activity. A certificate or general incentive framework does not replace sector-specific authorizations or project-level legal review.
How GPIS Supports Assessment
GPIS helps investors translate country-level information into a structured assessment of a specific opportunity.
Evidence Validation
Official sources are checked, dated, and clearly distinguished from estimates, projections, targets, and promotional claims.
Sector & Location Screening
Sector fit, infrastructure needs, market access, regulatory pathways, and location-specific operating conditions are compared.
Procedure & Stakeholder Mapping
Relevant public institutions, sector authorities, potential counterparties, and key procedural steps are mapped.
Due-Diligence Coordination
Required specialist reviews are scoped and coordinated with appropriately qualified advisers.
GPIS provides research, coordination, and investor-support services. It does not replace government approvals, licensed professional advice, independent technical studies, or the investor’s own due diligence and decision-making.
References & Data Notes
Figures retain the classifications and reporting periods stated by their sources. IMF 2025 values are estimates and 2026 values are projections published on 24 June 2026. Trade data cover merchandise trade in 2024. Company figures are historical, not forecasts. GPIS calculations are identified, and sources may revise data after publication.
Hero image credit: NASA / International Space Station.
View Sources (11)
1. International Monetary Fund — Mauritania: New ECF/EFF Arrangements and Fifth RSF (24 June 2026)
2. World Trade Organization — Mauritania Tariff & Trade Profile (2024 merchandise-trade data)
5. World Bank — Mauritania Country Partnership Framework 2026-2030 (November 2025)
6. World Bank — Mauritania Digital Economy Country Assessment (February 2025)
7. bp — GTA Phase 1 Loads First LNG Cargo (17 April 2025)
8. Kinross Gold — 2025 Fourth-Quarter and Full-Year Results (18 February 2026)
9. SNIM — Company Profile and 2025 Key Figures
10. APIM — Mauritania Investment Code 2025 and Implementing Decree
11. APIM — Mauritania Digitalizes Its Services for Investors (2025)
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