The Senegalese government has launched a landmark structural pact with the banking sector aimed at transforming agriculture and livestock farming to reduce the country’s heavy reliance on food imports, which cost over 1,070 billion CFA francs annually.
The initiative was unveiled by the Minister of Agriculture, Food Sovereignty, and Livestock, Dr. Mabouba Diagne, who met with leaders of 29 banks and four financial institutions under the Professional Association of Banks and Financial Institutions of Senegal (APBEFS) to kick-start this unprecedented collaboration.
At the core of the five-year, 1,470 billion CFA franc plan is the goal to produce what the country consumes through strategic investment in food staples such as rice, milk, tomatoes, and livestock.
The initiative outlines the creation of 90,000 jobs for youth and women, the establishment of 525 agroecological farms—one in each rural commune—and sector-specific financing averaging 14 million CFA francs per hectare.
The plan emphasizes innovative financing, improved risk management, and stronger sector structuring, with stakeholders optimistic that this new public-private partnership could be a game-changer in securing sustainable and resilient food sovereignty for Senegal.
