Guinea-Bissau Tenders

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Capital Bissau
ISO 3166 Code GW
Population 1,788,000
Area, Sq KM 36,120
Currency CFA franc
Official Language Portuguese
GDP, Billion USD 897
GDP Growth Rate, % 2.6
Inflation, Avg CP, % Chng NA
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 578.04
International dial code 245
Time Zone GMT-01:00
Internet TLD .gw

Guinea-Bissau is officially known to be the Republic of Guinea-Bissau. It is located in West Africa. The total land covered by the country is estimated to be 36,125 km². The country has a population of 1,704,000 and only 14% of the population of this country speaks Portuguese and it is established as the official language in the colonial period. 44% of the population speaks Crioulo and the rest of the people speak a variety of native African languages. The main religions of this country include Islam and African traditional religions. A minority of the population also follow Christianity. The per-capita gross domestic product of Guinea is considered to be one of the lowest in the world. Guinea-Bissau was once part of the Mali Empire and the Gabu Kingdom. Some of these parts remained till the 18th century and in few parts, Portuguese ruled till the 16th century. The country got its independence in 1973 and was recognized in the year 1974. Capital of the country is Bissau which was added to the country's name to avoid confusion with Guinea which was formerly known as French Guinea. Political instability has been prevalent since independence in the country. Guinea-Bissau is a member of the African Unions, United Nations, Economic Community of West African States, the Latin Union and south Atlantic Peace along with Cooperation Zone among many others. Guinea-Bissau's GDP per capita is one of the lowest in the world, and its Human Development Index is one of the lowest on earth. More than two-thirds of the population lives below the poverty line.[37] The economy depends mainly on agriculture; fish, cashew nuts and ground nuts are its major exports. The country suffered from a long period of political instability which has resulted in depressed economic activity, increased macroeconomic imbalances and deteriorating social conditions. It takes about 33 weeks on an average to register a new business in this country. Guinea-Bissau has started showing some economic advances after the main political parties signed a pact of stability for the country which further lead to a structural reform program backed by International Monetary Fund. Some of the major challenges the country faced include the pressure to achieve fiscal discipline, improve the economic climate for the private investors, build public administration and promote economic diversification. Guinea Bissau got its independent from Portugal in the year 1974 due to the Carnation Revolution and the Portuguese Colonial War which resulted in considerable damage to the country's social order, economic infrastructureand standard of living.

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