Senegal’s financial mediation system recorded major growth in 2024, with insurance cases rising by 92% to 71 compared to 38 in 2023, involving 235.5 million CFA francs.
Complaints in the banking and microfinance sector also soared from 77 to 308 — a 300% increase — driven by nationwide awareness campaigns by the Observatory for the Quality of Financial Services (OQSF) in partnership with the EU and Grant Thornton.
Since its creation in 2009, Senegal’s mediation mechanism has maintained a 90% resolution rate, settling disputes worth 1.7 billion CFA francs.
Mediators urged improved consumer education, faster settlements, and stronger support for farmers facing credit challenges, reaffirming mediation as a key tool for transparency and consumer protection in the financial sector.
