Mauritania has kept improving its business environment through legal and administrative reforms, but slow courts, unclear land ownership and difficult access to finance still weigh on investors, according to the US State Department's 2026 Investment Climate Statement on the country.
The report, issued by the department's Bureau of Economic, Energy and Business Affairs, says Mauritania's growth slowed to 4.2 percent in 2025 from 6.3 percent in 2024. It is projected to pick up to 4.8 percent in 2026 on the back of the extractive sector, while non-extractive growth is expected to ease to 4.4 percent from 5.1 percent in 2025 as the Middle East conflict affects oil prices and demand. The fiscal deficit was put at about 0.3 percent of GDP in 2025 and public debt at around 42 percent of GDP.
The report highlights the Investment Code revised in 2025, which guarantees profit repatriation and access to international arbitration, simplifies procedures and moves project approval from the Council of Ministers to an inter-ministerial committee chaired by the prime minister. It also cites the 2024 public-private partnership law and the Khidmaty platform, through which investors can register companies online. The Greater Tortue Ahmeyim gas project, shared with Senegal, began production in December 2024 and shipped its first liquefied natural gas cargoes in April 2025.
On the other hand, the State Department says judicial processes can be slow and enforcement of rulings sometimes inconsistent, adding that judges often face tribal pressures and apparent susceptibility to bribery. A significant portion of land still lacks clear title, it says, and land disputes are common, especially near the Senegal River.
Bank loans remain the main source of financing for companies, with no operational equity or bond market as of mid-2026 despite a December 2024 law creating a financial market, the report says. The banking sector, which has 18 local banks, is dominated by family-owned banks that often serve affiliated commercial groups, posing challenges for transparency and regulatory oversight.
On corruption, the report notes the adoption of three laws in 2025, including one on asset and interest declarations, and the creation of the National Anti-Corruption Authority in April 2026, but says enforcement of anti-corruption laws remains inconsistent. It puts unemployment at 10.3 percent in 2025, citing the Ministry of Employment and Youth, and notes that Mauritania has not suffered a terrorist attack since 2011 despite risks tied to instability in the Sahel and refugee inflows.
