Senegal Eyes SME Funding From West African Central Bank

Senegal is seeking some USD208 million from the Central Bank of West African States, or BCEAO, to support small and medium-sized enterprises, the country’s president, Abdoulaye Wade, told Reuters.

Wade urged the bank, which covers Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo, to release some financing to spur growth in Senegal.

“A central bank’s role is not to make investments to make money, its role is to finance development,” he said. “I’ve asked that it finds a way to give us (this money) so we can finance … small and medium-sized businesses.”

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.