Green economy: Senegalese companies conquering the sub-regional market

As part of the development of the green economy, five Senegalese companies have just taken a major step forward by expanding their activities to a sub-regional scale. During a Demo Day, these five green industrial projects, designed by Senegalese entrepreneurs, moved from the support phase to a concrete presentation of their offerings to the West African market.

This initiative was made possible thanks to financial support from the European Union through the IYBA-SEED Green Industries program, implemented by the Belgian Agency for International Cooperation (ENABEL) in five African countries. In Senegal, companies participating in the program benefit from the strategic support of the Agency for the Development and Support of Small and Medium-Sized Enterprises (ADEPME).

“SMEs represent 99.8% of Senegalese businesses. Yet they receive only about 9% of bank credit. In other words, almost our entire business economy shares a small portion of available financing. For a green SME, the equation is even more demanding. Its investments are heavy, its returns slower, and its national market often too small to absorb the effort,” notes Abdoulaye Faye, Secretary General of ADEPME.

However, he emphasizes, “the sub-region changes this equation. West Africa offers our companies a market commensurate with their ambitions, in sectors where the needs are considerable.” “The Senegal 2050 Vision sets the course for a more competitive and industrialized economy. Green industries are one of the surest paths to this goal, because they create jobs, value, and resilience. The time to act is now. The companies that establish themselves first in these markets will become the benchmarks,” he confides.

Demo Day is indeed a milestone in their journey. The five selected Senegalese companies operate exclusively in the green economy and clean technologies, including sustainable agriculture, waste management, renewable energy, and ecotourism. “They have tested their business model, structured their expansion strategy, and refined their presentation. Today, they are submitting their proposals to an independent jury. One of them will represent Senegal at the regional Demo Day, competing against the champions from Togo, Benin, Kenya, and South Africa to connect with international funding networks,” explains Mr. Faye.