Senegal to open first Islamic microfinance windows in 2020
Wednesday, 20 November 2019 14:55
Senegal plans to launch its Islamic microfinance program with the opening of financing windows by June 2020, Yaye Fatou Diagne (pictured), coordinator of the National Program for the Development of Islamic Microfinance in Senegal (PROMISE), announced on Tuesday.
The 5-year program valued at 47 billion CFA francs ($79.2 million) and supported by the Islamic Development Bank (IDB) aims to provide financing to about 50,000 micro, small and medium-sized enterprises across the country.
Authorities hope to help generate 25,000 new jobs, 35% of which will be for women and 25% for young people.
“The ongoing recruitment process to select an international technical assistance firm is expected to be completed in December, in line with the requirements of the Islamic Development Bank (IDB),” the manager said, stressing that “the firm should start its first activities in January 2020 and will submit a first report in June 2020 so that we start implementing the recommendations for the rapid and effective implementation of Islamic microfinance in our country.”
Moutiou Adjibi Nourou
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
BNP Paribas Enters Exclusive Talks to Sell BMCI Stake to Holmarcom
16:11
-
Burkina Faso–Morocco Commission Yields Twelve Bilateral Agreements
16:08
-
Tône 1 Commune Lays Groundwork for Decade-Long Waste Management Plan
16:00
-
France, Togo Launch CFA620M Local Governance Project
15:52
-
Togo Inflation Falls to 0.5% in November, Stays Below Regional Cap
15:39
-
EBID, Colombia Sign Cooperation Agreement During Pan-African Congress
15:25
-
Côte d’Ivoire Plans Training, Internship Placements For 152,000+ Youth In 2026
14:55
-
With AI, Hassan Arslan Turns Meetings Into Verifiable Data
14:19
-
Algeria Launches Digital System to Overhaul Hospital Transfer Process
14:16
-
Mauritius to Apply 15% VAT on Foreign Digital Services From 2026
14:12
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Burkina Faso and Morocco signed 12 legal instruments during the fifth session of their Joint Cooperation Commission. The agreements span key...
Côte d’Ivoire launches fourth PNSAR to boost youth employability Programme targets 152,237 youths with $47 million budget Internships,...
Mauritius will require foreign digital service providers to charge and remit 15% VAT from 1 January 2026. Companies earning more than MUR 3...
Kenya signed an MoU with the International Water Management Institute (IWMI) to expand and modernize irrigation systems. The 10-year National...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...