On July 28th at the Pullman Hotel in Dakar, USAID and six actors namely bp, DER/FJ, FONSIS, KPC, WIC Capital and SONATEL, will formalize their strong willingness to work together in a partnership agreement signing ceremony, to tackle youth unemployment issues while improving enterprises competitiveness. These partnerships will create synergies for more effective support to Senegalese youth and women entrepreneurs in their micro, small and medium sized enterprises.
Over the next five years, USAID and the partners will support the private sector to find market-based solutions to economic, social and environmental challenges. They will support women and youth to participate in the economy and in decision-making and will strengthen civil society organizations to advocate for positive change. To achieve this objective, USAID and the partners will co-design and co-implement activities in the identified common areas of interest through existing mechanisms such as the USAID Entrepreneurship & Investment project, as well as the Feed the Future Senegal Nafoore Warsaaji, and Policy System activities, and the new Feed the Future Senegal Value Chain Services project.
The five-year partnership agreements will allow more than 200,000 youth and women to be empowered, and inspired to create new businesses. 20,000 Medium, Small and Micro Enterprises (MSMEs) will receive coaching, training and other business development services based on their needs but also adequate financial support to grow their business and access to new market opportunities and networks.
USAID has made a commitment to support locally-led development by diversifying the partner base and advancing the localization of development solutions. These partnerships along with the support that will be provided to the local MSMEs are in line with creating new champions capable of impulsing inclusive local development in Senegal.
The U.S. Agency for International Development (USAID) promotes and demonstrates American values of democracy and its vision of a free, peaceful, and prosperous world. Together with our Senegalese partners, USAID/Senegal provides assistance that saves lives, expands economic growth, provides education opportunities, strengthens governance and civil society, and supports Senegal’s national development plan, the Plan Sénégal Emergent. +221 33 879 4000 ; usaid-senegal@usaid.gov ; www.usaid.gov/senegal
bp established its presence in Mauritania and Senegal in 2017, following the discovery of a gas field which straddles the maritime border of the two countries. Since entering in Mauritania and Senegal, bp partnered with Kosmos Energy, Société Mauritanienne Des Hydrocarbures (SMH) and Société des Pétroles du Sénégal (PETROSEN) on the development of the Phase 1 Greater Tortue Ahmeyim (GTA) Project. GTA is an innovative project and multi-billion-dollar investment to establish the basin as a world class gas province and major LNG Hub.
DER/FJ is a Government of Senegal agency under the authority of the General Secretariat of the Presidency of the Republic of Senegal (created by decree n ° 2017-2123 of 15 November 2017). The Agency’s main objective is to participate in the Government of Senegal's efforts for wealth creation, inclusion and active participation of populations in growth and territorial equity. In pursuing this mission, DER/FJ develops multiple partnerships with local and international stakeholders involved in the implementation of programs dedicated to the empowerment of women and youth through entrepreneurship.
FONSIS is a Government of Senegal agency under the authority of the Ministry of Economy and Planning that promotes the role of the State of Senegal as an investor, partner and complement to the private sector. The Fund supports direct investments to accelerate the economic and social development of the country, creating wealth and jobs for present and future generations. The fund attracts investors who are looking for emerging markets and business opportunities with strong potential for growth and profitability. FONSIS invests capital in projects alongside domestic and foreign investors.
WIC Capital is the first investment fund dedicated to women-owned enterprises in Senegal. WIC Capital’s objective is to identify and develop a portfolio of promising SMEs that will contribute to developing economies in Senegal and West Africa. WIC Capital invests through a mix of debt and equity in companies from all sectors, founded by women, at least 50% owned or run by women, or with a managerial team that is mostly composed of women. WIC Capital also established a branch aiming to provide women-led SMEs with the necessary tools to achieve significant sustainable growth: WIC Academy that works with a wide group of women-led companies and capitalizes on the expertise of WIC members, technical partnerships with local and international organizations, as well as external expertise.
The Korean Productivity Center (KPC) is recognized as the first consulting organization connected to the Government of South Korea and the top industrial educational institution in Korea. The Center was established in 1957 to enhance the national productivity of the industrial sites. KPC has contributed to improve national, corporate and individual productivity by executing various research projects for the establishment of national policies, developing social capital measurements and consulting projects for corporate and public productivity enhancement, and implementing customized training services and qualifications. KPC comes to Senegal to contribute to the economic development by supporting startups across different sectors and the entrepreneurship ecosystem.
The Sonatel Foundation, which implements corporate social responsibility activities for SONATEL, is an institution that supports social, human and cultural development in Senegal. Its actions target society’s most vulnerable population through in-kind and financial support. Since its creation in January 2002, the Sonatel Foundation has contributed to Senegal social and cultural development through multiple programs in education, health, environment and entrepreneurship. The Sonal Foundation has committed to the mission of improving people’s quality of life in social, health, educational, cultural and economic context for their well being.