Senegal: Introduction of assessment grid to facilitate access to microfinance

May 25, 2011

A new assessment grid is to be introduced in Senegal to facilitate access to credit for small and medium-sized enterprises (SMEs).

This tool, created by the national agency for SME development (ADEPME) will help present eligible firms to banking institutions and will facilitate dialogue between banks, microfinance institutions and companies.

The data contained in this grid will be available online so that banks can verify the enterprises' level of commitment and their finances for the last three years, APA news agency reports.

"It's a very important tool. It's a first in the region and we hope that this will be repeated elsewhere", said Marie Thérèse Diédhiou, ADPME's Director, in an interview on the national TV channel.

SMEs represent 90 per cent of Senegalese businesses and employ 30 per cent of all human resources.

They contribute up to 25 per cent to the national turnover and up to 20 per cent of the national added value, Réussir Business newspaper reports.