Public Management

Senegal: Government adopts $1B plan to develop the Kedougou gold mining region

Senegal: Government adopts $1B plan to develop the Kedougou gold mining region
Friday, 24 November 2023 19:19

In Senegal, the Kedougou region, located 700 km from Dakar, contributes significantly to the country’s economic development. The paradox, however, is that this region is one of the nation’s poorest. A situation that poses a security risk for Senegal, according to the Institute for Security Studies (ISS).

The Senegalese government has adopted a $1 billion (CFA600 billion) investment plan for the Kédougou region. According to the minutes of the Council of Ministers meeting of November 22, the program spans the period 2024-2026 and will optimize the region's mining potential for sustainable development and youth employment.

At the moment, details regarding the project’s implementation are unknown. The government only stated that the program is "in coherence with PAP 3 [priority action plan, Editor's note] of the Plan Sénégal Emergent."

Gold is one of Senegal’s main exports, and Kédougou, a region located 700 km from Dakar, the capital, houses most of the country’s industrial and artisanal gold mines. Despite its contribution to Senegal's economic development, the region is one of the country's poorest. According to a report by the Institute for Security Studies (ISS) published in February 2022, this "gap between economic potential and poverty levels [...] fuels the population's frustration and sense of exclusion, making them vulnerable to recruitment by extremist groups."

In the report, the authors called on the authorities to adopt a multi-faceted preventive approach. This includes accelerating the formalization of artisanal and small-scale mining to reduce illegal exploitation and strengthen control over the gold marketing chain. State intervention must nevertheless be designed and implemented on a consultative basis to reduce tensions among the population and artisanal miners, the document states.

Emiliano Tossou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Development Partners International sold its 20.17% stake in Atlantic Business International for more than $200 million. The transaction valued...
The Alliance of Sahel States plans to create a joint purchasing agency covering Mali, Burkina Faso, and Niger. The initiative aims to regulate cereal...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
03

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.