Banque Atlantique, EU boost Senegalese firms with €20m

Banque Atlantique, a subsidiary of Banque Centrale Populaire (BCP) Group, is enhancing its commitment to financial inclusion with over 13 billion CFA francs (about 20 million euros) allocated to Senegalese companies.

This funding, supported by the European Investment Bank (EIB) and the European Union (EU), targets key sectors such as IT, agri-food, and health, aiming to stimulate local economic activity.

The funding is part of a broader €65 million agreement concluded in September 2023 to support small and medium enterprises (SMEs) and mid-sized enterprises (ETIs) across Senegal, Côte d’Ivoire, and Burkina Faso.

Approximately 40 per cent of this funding is dedicated to projects led by women, aligning with the OECD’s 2X Challenge and supporting youth employment.

Mr. Abdelmoumen Najoua, Managing Director of Banque Atlantique Sénégal, emphasised the initiative’s role in unlocking the potential of African entrepreneurs.

EIB Vice President Ambroise Fayolle highlighted the importance of tailored financing solutions for fostering growth and employment, particularly for young people and women.

EU Ambassador to Senegal, Jean-Marc Pisani, reaffirmed the EU’s commitment to improving the business environment and supporting sustainable economic growth through the Global Gateway strategy.