The Senegalese government has pledged massive support for Small and Medium Enterprises (SMEs) with a funding package of 1trillion CFA francs.
Prime Minister Ousmane Sonko made the announcement on Tuesday while presiding over the opening ceremony of the fourth edition of the Small and Medium Enterprise (SME) Forum.
The forum, held under the theme “SMEs and Innovation: Levers of Sovereignty,” aligns with the broader vision outlined in Vision Senegal 2050, a public policy framework set by the new administration.
The Prime Minister also announced the implementation of a national strategy for the development of SMEs and Small and Medium Industries (SMIs) to enhance their market share at both national and regional levels.
He reaffirmed the government’s commitment to accelerating the SME financing program in alignment with the African Continental Free Trade Area (AfCFTA).
The goal is to increase credit allocated to entrepreneurs from 600 billion CFA francs in 2021 to 3 trillionCFA francs by 2028.