Senegal will soon have a new face. President Macky Sall announced on September 29 plans to revive the economy through major investments in key sectors. This was during a presidential council on the Adjusted and Accelerated Priority Action Plan (PAP2A) for the recovery of the economy.
“We will first focus on accelerating food sovereignty by strengthening our autonomy on commodities; we are already on the right track, especially for rice. Sanitary and pharmaceutical sovereignty, economic industrialization and economic digital transformation, [...] will follow,” said Amadou Hott, the Minister of Economy. The government will also continue implementing major infrastructure projects in the country, with increased investment in the hotel industry, tourism, and housing.
The Senegalese authorities hope the rollout of the PAP2A will make it possible to regain a growth of 5.2% in 2021; a figure that is expected to accelerate and eventually reach double-digit levels within the next three years, according to President Macky Sall.
“We will return to GDP growth of around 5.2% in 2021, 7.2% in 2022, and 13.7% in 2023,” he said stressing that this record level would only be possible with the exploitation of gas and oil resources. The government plans to raise one-third of the needed financing from the private sector.
In the meantime, the country has to face the fallouts of the coronavirus pandemic, which continues to be a threat to the economy. The growth outlook for this year dropped to 0.7% against an initial forecast of 6.9%.
Moutiou Adjibi Nourou
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Mercedes Trucks signs agreement with Senegal to build a truck and commercial vehicle assembly plant.• The project will create hundreds of jobs...
• Ghana launches NAIMOS as the central authority to combat illegal mining activities nationwide.• The secretariat’s mandate includes environmental...
• Two major Nigerian universities to host innovative training programs focused on leadership, innovation, and sustainability.• 200 students and teachers...
• India’s NMDC launches a strategic center in Dubai to boost mining acquisitions in Africa.• A three-year copper and cobalt exploration campaign starts in...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...