Senegal: Credit to private sector up 12.6 per cent

Dec 10, 2014

Credit to the private sector increased by CFAF269.5 billion (€411 million) to reach CFAF2,414.3 billion in December 2013 in Senegal, according to the 2013 annual report of the Central Bank of West African States (BCEAO).

Credit to the private sector increased by CFAF269.5 billion (€411 million) to reach CFAF2,414.3 billion in December 2013 in Senegal, according to the 2013 annual report of the Central Bank of West African States (BCEAO). This represents an increase of 12.6 per cent.

According to the document, seen by Ecofinance, this increase is mainly due to the introduction of lines of credit for the benefit of private operators working in the oil and gas, agro-industry, manufacturing, energy, telecommunications, real estate and services sectors.

The report points out that at the end of December 2013, total outstanding loans registered by credit bureaus are divided between Senegal (24.1 per cent), Ivory Coast (23.3 per cent),
Burkina Faso (17 per cent), Benin (11.7 percent), Mali (nine per cent), Niger (7.3 per cent), Togo (7.3 per cent) and Guinea-Bissau (0.3 per cent).

The BCEAO has recently increased its efforts to develop access to credit and to other banking services. It has made 19 banking services offered by banks of the West African Economic and Monetary Union (WAEMU) free of charge since October 2014.ADNFCR-2976-ID-801765121-ADNFCR