There has been a huge improvement in the Guinean telecoms market over the last 10 years. The capital and the regional administrative centers now have 3G access. There is national mobile coverage and the capital, Conakry, is reasonably well-served, but coverage elsewhere remains inadequate.
Guinea is a poor country of approximately 12.9 million people in 2016 that possesses the world’s largest reserves of bauxite and largest untapped high-grade iron ore reserves, as well as gold and diamonds. In addition, Guinea has fertile soil, ample rainfall, and is the source of several West African rivers, including the Senegal, Niger, and Gambia. Guinea’s hydro potential is enormous and the country could be a major exporter of electricity. The country also has tremendous agriculture potential. Gold, bauxite, and diamonds are Guinea’s main exports. International investors have shown interest in Guinea’s unexplored mineral reserves, which have the potential to propel Guinea’s future growth.
The biggest threats to Guinea’s economy are political instability, a reintroduction of the Ebola virus epidemic, and low international commodity prices. Economic recovery will be a long process while the government adjusts to lower inflows of international donor aid following the surge of Ebola-related emergency support. An enduring legacy of corruption, inefficiency, and lack of government transparency, combined with fears of renewed epidemics, continue to undermine Guinea’s economic viability.