News

Senegal: Government urges local banks to further support agriculture sector and SME

Senegal: Government urges local banks to further support agriculture sector and SME
  • Comments   -   Friday, 12 January 2018 - 16:43

(Ecofin Agency) - Senegalese local banks were asked to provide more funding to SMEs and agricultural marketing campaigns. This was during a meeting held on Jan 9. “Banking institutions are a key component of financial sector. They have a crucial role in financing the economy”, Amadou Bâ (photo), Senegal’s minister in charge of economy, finance and planning, said on the occasion.

Indeed, Senegalese SMEs, which constitute the large part of companies, have difficulty to obtain credit from banks. In addition, local farmers are short of funding to put products on market.

Banks should also reduce interest rates, applied on these funding, which stay around an average of 9.3% compared to an average of 6.2% in the country.

Considering that the WAEMU community is implementing new prudential standards, known as Basel II and Basel III, banks might be reluctant to follow the government’s recommendations. In fact, these standards may actually push the lenders to be tighter when providing loans.

Chamberline Moko

SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
Mining company Roxgold produced in 2017, 126,990oz of gold, above the 115 000-125 000...
Read more |  17 January 2018
Senegal’s national telecoms company (Sonatel) reduced, again, its mobile internet rates. The...
Read more |  17 January 2018
Between February and December 2017, Nigeria has exported 220,000 tons of cashew...
Read more |  17 January 2018
During the present quarter, a special land tribunal will start operating in...
Read more |  17 January 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-01-11 04:01:13' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-12-19 04:01:13' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-01-18 04:07:06' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
listofid2=37951,37950,37949,37948,
reference=37951,37950,37949,37948,0
Saudi ACWA Power announced it has adopted SolarCoin, the blockchain-based digital currency....
Read more |  17 January 2018
International tourist arrivals in Africa grew by 8% in 2017, according to...
Read more |  17 January 2018
In 2017, the ICT sector has generated CFA636.3 billion of revenues, thus 5.1% of Senegal’s...
Read more |  17 January 2018
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
Mining company Roxgold produced in 2017, 126,990oz of gold, above the 115 000-125 000...
Read more |  17 January 2018
Senegal’s national telecoms company (Sonatel) reduced, again, its mobile internet rates. The...
Read more |  17 January 2018
Between February and December 2017, Nigeria has exported 220,000 tons of cashew...
Read more |  17 January 2018
During the present quarter, a special land tribunal will start operating in...
Read more |  17 January 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-01-11 04:01:13' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-12-19 04:01:13' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-01-18 04:07:06' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
Saudi ACWA Power announced it has adopted SolarCoin, the blockchain-based digital currency....
Read more |  17 January 2018
International tourist arrivals in Africa grew by 8% in 2017, according to...
Read more |  17 January 2018
In 2017, the ICT sector has generated CFA636.3 billion of revenues, thus 5.1% of Senegal’s...
Read more |  17 January 2018

Copyright Agence Ecofin © 2015. All Rights Reserved.