Microfinance: The Ministry in Charge Relaunches Dialogue With Partners

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The Ministry of Microfinance, Social and Solidarity Economy held a workshop to relaunch exchanges between the Government and partners. It is for the guardianship to meet together the challenges facing the sector of microfinance and financial inclusion. Thus, the ministry engages in a permanent and constructive dialogue, through the areas of intervention defined in the sectoral policy letter and the national financial inclusion strategy.

For the Minister, Victorine Ndeye, the availability of partners could ensure the maintenance of cooperation, which is exemplary and a benchmark from all points of view, to raise it to levels compatible with the requirements of quality financial and social inclusion. “Strong recommendations formulated during the 26th Meeting of the National Microfinance Activities Coordination Committee, organized on December 21, 2022, had strongly encouraged the resumption of the activities of the donor sub-committee, considered as an essential interlocutor in microfinance and financial inclusion. It was able to strengthen the quality of our cooperation, which is a decisive asset in strengthening the age-old ties uniting our country and its partners,” she said.

According to him, this constancy has made it possible above all to maintain and give significant impetus to the coherent implementation of the various development programs and projects, structured around the PES. In this sense, we learn that since its advent in Senegal, Microfinance has benefited from a very significant support from partners.

On proven models, she cites the transformation of ACEP, which went from a project status, to a savings and credit mutual, thanks to the deed of retrocession signed between USAID and Senegal; she also mentioned the financing of the modernization plan of the Crédit Mutuel du Sénégal (CMS) intervened thanks to a subsidy of 2.5 billion FCFA granted by the French Development Agency (AFD) in Senegal and transferred entirely to the CMS; Finally, she mentioned the agreements signed by the State of Senegal with Canadian cooperation to promote the creation and development of UM-PAMECAS, among others.

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