Guinea's National Assembly adopted the spending side of the revised 2026 budget on November 7, setting total spending at 67,925.87bn GNF (€6.86bn), 5.83% above the initial law, news sites Guinee7 and Avenirguinee reported. Investment spending falls 10.13% to 23,562.27bn GNF (€2.38bn) as projects are postponed. Meanwhile, 176 of the 339 projects identified under the Simandou 2040 program receive 10,137.65bn GNF (€1.02bn), Guinee7 said.
Analysis: Total spending rises while investment falls, so spending other than investment grows by about 6.4tn GNF (€647mn), by our calculation. That includes the fuel price freeze, which the budget costs at 5.49tn GNF (€555mn) in forgone taxes and stabilization funds, Avenirguinee reported. Interest on public debt offsets part of the increase, budgeted 19.5% lower at 3.84tn GNF (€388mn). In the Simandou 2040 program, 52% of identified projects are funded this year and less mature projects move to 2027. Ecofinance Guinée, however, put investment at about 39% of the budget presented, against 34.7% in the adopted figures. The law awaits promulgation, and no date has been announced.
Source: Guinee7.com, Guinee7.com, 'Guinée : dépenses en hausse, investissements en recul et le déficit budgétaire ramené à 2,01 % du PIB', November 8, 2026, FY2026 (revised budget adopted November 7, 2026); Guinee7.com, Guinee7.com, November 8, 2026 (as above), FY2026 (revised budget adopted November 7, 2026); Avenirguinee.org, Avenirguinee.org, 'PLFR 2026 : l’Assemblée nationale adopte le volet dépenses à plus de 67 000 milliards GNF', November 8, 2026, FY2026 (revised budget adopted November 7, 2026); Avenirguinee.org, Avenirguinee.org, November 8, 2026 (as above), FY2026 (revised budget adopted November 7, 2026); Ecofinance Guinée, Ecofinance Guinée, 'PLFR 2026 : un budget révisé de 67 925,87 milliards GNF, dont près de 39 % consacrés à l’investissement', November 4, 2026, FY2026 (revised budget, presentation reported November 4, 2026); Guinéenews (private), Guinéenews, 'Budget 2026 : plus de 64 mille milliards GNF de dépenses adoptées à l'unanimité par le CNT', April 1, 2026, FY2026 (initial law adopted March 31, 2026); Secrétariat Général du Gouvernement, Loi L/2026/010/CNT du 31 mars 2026 portant Loi de Finances Initiale pour l'année 2026 (Journal Officiel Spécial N°04), FY2026; Africaguinee.com (private), Africaguinee, 'Guinée : Baisse du PIB, inflation en hausse… Les points clés du budget rectificatif 2026' (October 24-25, 2026), reporting the finance minister's presentation; official document: PLFR 2026 (not found online), FY2026 (draft amended budget); Ministère de l'Économie, des Finances et du Budget (MEFB), Service Communication et Relations Publiques (text published by Guinéenews), MEFB communiqué on the PLFR 2026 presentation to the National Assembly, October 24, 2026 (published by Guinéenews on October 25), FY2026 (draft amended budget); Banque Centrale de la République de Guinée (BCRG), BCRG, Cours de référence des principales devises contre GNF au 30 octobre 2026, Liste N°0206/2026, October 30, 2026
The International Fund for Agricultural Development (IFAD), a UN agency, plans a new $70mn investment portfolio for Guinea's agriculture, news sites Guinéenews and Ecofinance Guinée reported after Prime Minister Amadou Oury Bah received an IFAD delegation on November 4. Earlier IFAD operations helped build 250 kilometers of rural roads and markets in 15 prefectures, delegation head Bernard Hien said, according to Ecofinance Guinée.
Analysis: The $70mn equals about 6% of Guinea's food imports of $1.12bn in 2025, as reported by the central bank BCRG, by our calculation. Farming also grew more slowly than the economy. Agricultural value added rose 4.1% in 2025, against official growth estimates of 7.1% to 8.4%, a gap of 3.0 to 4.3 points. Agro-processors and input suppliers could be among the first to see demand if the money goes to value chains. Neither outlet said whether the money is a loan or a grant, or which crops it targets. IFAD has announced no approval date.
Source: Guinéenews (private), Guinéenews, 'Développement rural : le FIDA envisage un nouvel investissement de 70 millions Usd en Guinée', November 5, 2026, Announced November 4, 2026; Ecofinance Guinée, Ecofinance Guinée, 'Le FIDA projette d’investir 70 millions USD supplémentaires dans l’agriculture en Guinée', November 5, 2026, Announced November 4, 2026; Guinéenews (private), Guinéenews, November 5, 2026 (as above), Cumulative, earlier IFAD projects (as of November 2026); Banque Centrale de la République de Guinée, BCRG, Rapport annuel 2025 (PDF file dated October 20, 2026), 2025; Institut National de la Statistique (INS), INS homepage, key indicators panel (site updated October 29, 2026), 2025; Guinéenews (private), Guinéenews, 'LFR 2026 : la Banque centrale alerte sur les risques inflationnistes...' (October 26, 2026), governor's remarks to the National Assembly on October 24, 2025
Guinea banned unregulated gold mining in the northeastern Siguiri region on November 2, outlawing dredges, explosives, dangerous chemicals and digging in rivers, protected areas and farmland, Ivorian news site Koaci and AFP reported. Thousands of foreign miners have been detained, including 409 from Burkina Faso, 606 from Mali and 249 from China, Foreign Minister Morissanda Kouyaté said on November 5, according to AFP and business news site Ecofinance Guinée.
Analysis: Artisanal mining supplies most of Guinea's gold. The mines minister put its share at 70% of the 72 metric tons produced in 2024. Licensed buying houses exported 49.6 tons in 2025, about 71% of the gold exports reported by the central bank BCRG, by our calculation. Artisanal figures are estimates, and officials have not said how much gold comes from Siguiri. A long halt could still cut supply to buying houses and to the new Nimba refinery. Guinea names 409 Burkinabè detained. Meanwhile, a Burkina Faso government source cited more than 8,000 leaving. The government has not said whether, or when, licensed sites will reopen.
Source: Various, Dakaractu (with AFP), 'Guinée: des milliers d’étrangers interpellés après l’interdiction de l’orpaillage clandestin', November 6, 2026, Early November 2026 (as stated November 5); Ecofinance Guinée, Ecofinance Guinée, 'Ce qu’il faut retenir de la rencontre de Morissanda Kouyaté avec les ambassadeurs', November 6, 2026, As stated November 5, 2026; Various, Le360 Afrique (with AFP), 'Des milliers de Burkinabè rapatriés de Guinée après des mesures contre l’orpaillage illégal', November 5, 2026, Early November 2026; Various, Koaci, 'Guinée : le gouvernement ferme la porte à l’exploitation anarchique de l’or à Siguiri', November 4, 2026, 2024; Banque Centrale de la République de Guinée (BCRG), BCRG, Allocution du Gouverneur devant le CNT, mars 2026, 2025; Banque Centrale de la République de Guinée, BCRG, Rapport annuel 2025 (PDF file dated October 20, 2026), 2025
Guinea's state-owned Nimba Mining Company signed an agreement on November 4 with the mining infrastructure agency ANAIM to use a 56-kilometer shared road from its Tinguilinta permit to the port facilities at Dapilon, Financial Afrik and Ecofin Agency reported. The company aims to have extracted 9mn metric tons of bauxite by the end of November and 10mn tons by December 31, Financial Afrik said.
Analysis: The 10mn-ton target matches the bottom of the 10mn to 12mn tons a year Glencore agreed in September to market under a pre-financing deal worth more than $300mn, Reuters reported. It equals about 5.5% of Guinea's 182.8mn tons of bauxite exports in 2025, by our calculation. The road adds a second route to the coast, alongside the 86-kilometer shared railway and barges the company already uses, Ecofin Agency said. The target counts ore extracted, not shipped, Financial Afrik said, and other miners including SMB already use the road. No shipment figure has been published, so December 31 is the next test.
Source: Financial Afrik (private), Financial Afrik, 'Guinée : Nimba Mining Company ouvre un deuxième corridor logistique pour porter sa production à 10 millions de tonnes de bauxite', November 4, 2026, Agreement of November 4, 2026; Financial Afrik (private), Financial Afrik, 'Guinée : Nimba Mining Company ouvre un deuxième corridor logistique…', November 4, 2026, 2026 (targets: end-November and December 31); Agence Ecofin (private), Ecofin Agency, 'Guinea: How Millions of Tons of Bauxite Travel From Inland Mines to China', November 7, 2026, November 4, 2026; Reuters (republished by Mining.com, Engineering News), Reuters (September 14, 2026), via Engineering News, 2026–2031; Reuters (republished by Mining.com, Engineering News), Reuters, 'Guinea discussing alumina, energy investments with Glencore after bauxite deal, minister says' (September 14, 2026), republished by Engineering News, Signed September 2026, five years; Guinéenews (private), Presentation by Ismaël Diakité at OGCE round table, reported by Guinéenews, 2025
Guinea aims to raise tax revenue to 15% of gross domestic product from an estimated 12.9% as it prepares its initial 2027 budget, the head of the domestic revenue mobilization mission MAMRI, Mohamed Lamine Doumbouya, told Prime Minister Amadou Oury Bah on November 4, Ecofinance Guinée reported. He said the ratio should rise gradually and 'as far as possible'.
Analysis: Closing the 2.1-point gap would bring in about 8.7tn GNF (€877mn) more a year at 2025 output, by our calculation from statistics agency INS data. That is slightly more than the 8tn GNF (€812mn) the state drew from mining in 2025, the central bank BCRG said. The starting point is unclear, however: by our calculation from BCRG and INS figures, all 2025 revenue and grants came to 11.4% of GDP, below the 12.9% tax ratio cited. Companies should watch for new tax measures in the 2027 draft budget, which has not yet been sent to parliament.
Source: Ecofinance Guinée, Ecofinance Guinée, 'La Guinée vise 15 % de pression fiscale en 2027', November 6, 2026, Current estimate (as stated November 4, 2026; year not given) and 2027 (target); Institut National de la Statistique (INS), INS homepage, key indicators panel (site updated October 29, 2026), 2025; Banque Centrale de la République de Guinée, BCRG, Rapport annuel 2025 (PDF file dated October 20, 2026), 2025
Chart of the week
Guinea's goods exports, bn GNF a month, statistics agency INS, August 2025–August 2026
Value of goods exported each month, free on board, from the foreign trade notes of statistics agency INS. Exports reached 14,890bn GNF (€1.50bn) in August 2026, 54% more than in August 2025. December 2025 was the highest month shown, at 23,438bn GNF (€2.37bn).. Source: Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Août 2025, August 2025; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Septembre 2025, September 2025; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Octobre 2025, October 2025; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Novembre 2025, November 2025; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Décembre 2025, December 2025; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Janvier 2026, January 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Février 2026, February 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Mars 2026, March 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Avril 2026, April 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Mai 2026, May 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Juin 2026, June 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Juillet 2026, July 2026; Institut National de la Statistique (INS), data from Direction Générale des Douanes (SYDONIA), INS, Note sur les statistiques du commerce extérieur - Août 2026, August 2026.
In Alama Pro this week
Deep dive: Guinea's fuel price freeze costs 5.5tn GNF this year
10 stories with workings, from the revised budget and the tax target to farm finance, gold, bauxite and iron ore, dam debts, state payments to contractors and Conakry's waste
Three key figures, from inflation to goods and bauxite exports, and every open tender in our records
