Country
Senegal

Local project partner
Association Professionnelle des Systèmes Financiers décentralisées du Sénégal (APSFD)

German project partner
--

Donor
BMZ

Duration
01.09.2023 - 31.08.2025

Despite political stability and a fairly diversified economy, Senegal faces key development challenges: a young population crowding into the labour market; dependence on agriculture and low financial provision to rural areas; low savings generation; quality deficits in MFIs.
The project objective is to promote self-employment or dependent employment, especially among young people in Senegal, equally among women and men, and to contribute to a sustainable, resilient (agricultural) economy and to the resilience of private households and small businesses through local financial intermediation. To this end, financial knowledge on the client side and demand-oriented financial services provided by stable and secure microfinance institutions (MFl) are to strengthen the local economy and savings mobilisation in particular.

In order to meet the challenges in a sustainable manner, the performance of the national microfinance association is to be further developed. As a first concrete service of the association, the contents of basic financial education are to be carried to the respective target groups via the microfinance sector. With this, also the MFIs shall be reached with the contents and methodology of these measures.