On the occasion of the Viva Technology trade show, Proparco and Digital Africa are reaffirming their support for "Made in Africa" companies, by granting financing, through the Bridge Fund by Digital Africa, to the Senegalese start-up Maad.

The Senergy photovoltaic power plant project combines the expertise of three French energy specialists: the Meridiam investment fund, the specialist solar energy constructor Solairedirect and Schneider Electric. In early 2016, Proparco granted a 34.5 million euro loan over 18 years to finance the operation of this solar power plant. In 2012, the Senegalese Government adopted an ambitious roadmap for national economic and social development – Plan Sénégal Emergent – with a key focus on energy security.

From Benin to Togo and Senegal, the subsidiaries of the pan-African banking group Coris Bank International (CBI) have joined Proparco's Trade Finance guarantee programme. These guarantees will facilitate the import of foodstuffs, essential goods, and materials needed by SMEs to create local value. These three agreements reflect the deepening ties established since 2021 between Proparco and the Coris Group.

Nearly 540,000 people in Senegal will get access to clean and affordable power following the launch of two solar photovoltaic (PV) plants, financed by IFC, the European Investment Bank and Proparco, under the World Bank Group’s Scaling Solar program.

Through loans totaling €8 million (more than 5 billion FCFA), the French and Italian development finance institutions will enable PAMECAS to grant more than 3,800 additional micro-credits. This project benefits from EFSD guarantees, a risk-sharing mechanism in favor of entrepreneurs and MSMEs set up by the European Union in response to the COVID-19 crisis.

Just six months after the inauguration of the Senergy solar power plant, which was then the biggest in Western Africa, on Tuesday 16 January the Senegalese Prime Minister Mahammed Boun Abdallah Dionne inaugurated its twin facility, Ten Merina. This is a major milestone and cements Senegal’s position as the leading regional producer of solar energy.

Proparco - AFD Group

To accelerate Senegal's digital transformation, IFC and partners British International Investment (BII) and Proparco today announced a financing package for Sonatel to improve essential telecommunications infrastructure in the country and expand access to reliable, affordable mobile and fixed broadband services.

Proparco has just granted a senior credit line of XOF 6.5 billion (equivalent to €10 million) to ACEP Senegal. It will be used to stimulate growth in the microfinance institution's lending to micro-farmers and micro-entrepreneurs throughout the local agri-food value chain. This financing is also aimed at supporting, as a priority, VSE/SMEs owned or run by women.

Proparco's Choose Africa Resilience guarantee will cover BICIS' lending of XOF 1,250,000,000 to Senegalese small and medium-sized enterprises.

This is the story of Adama Sène Cissé, a banker who discovered his entrepreneurial spirit. She tells the story of the creation of her company, Gade-Gui, specialized in groundnut processing. Gade-Gui employs 8 people and up to 100 seasonnal workers, most of whom are women. She explains why she turned to Cofina, a partner of Choose Africa, for financial support.

In the Dakar region, Lysa & Co processes and markets cashew nuts, peanuts and corn. 85% of the 34 employees of this SME are women. Lysa & Co is supported by the Senegalese fund Teranga Capital. In 2017, Teranga Capital invested FCFA 200m (EUR 300,000) for the construction of a new production unit. Teranga Capital is an impact fund supported by I&P, a longstanding partner of Proparco.

To meet the needs of MSMEs affected by the crisis on the African continent, Proparco has set up an exceptional guarantee to cover part of the financing that financial institutions can grant them. Société Générale, a long-standing partner of the AFD Group and a key player in private sector financing in Africa, is the first financial institution to partner with Proparco to deploy this mechanism.

This guarantee, made possible thanks to the support of the French government, enables Société Générale's subsidiaries on the African continent to amplify their support for entrepreneurs. Cameroon, Côte d'Ivoire, Madagascar and Senegal are the first countries to benefit from this loan offer which is 80% guaranteed by the AFD Group.

In Senegal, Proparco is partnering with Admaius Capital Partners to support Saint Christopher Iba Mar Diop Medical School through the FISEA+ facility. Established in Dakar in 2003, Saint Christopher has grown up into one of the largest private medical training institutions in Francophone Africa, with over 2,000 students currently enrolled in medicine, pharmacy, and dentistry programs.

Proparco and Société Générale Senegal (SGSN) continue to strengthen their partnership with the signing of a new ARIZ guarantee aimed at facilitating access to credit for micro, small and medium-sized enterprises (MSMEs) in Senegal.