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
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Egypt’s solar photovoltaic capacity could rise from 2.9 GW in 2025 to 34.3 GW by 2035, according to GlobalData. Total renewable energy capacity could...
Africa’s natural gas consumption rose 4% to 185 billion cubic meters in 2025, driven by power and residential demand. North Africa led...
President Évariste Ndayishimiye replaces three ministers in his third cabinet reshuffle since 2020. Changes affect health, infrastructure, and...
Both partners target to expand supply chain finance across eight African markets with the deal $1.9 billion deal flow is expected to occurred over...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....