The Senegal government has announced plans for institutional reforms aimed at improving coordination and support for small and medium-sized enterprises (SMEs), officials said Friday, as the country seeks to strengthen the backbone of its economy.
According to the Senegalese Press Agency (APS), Secretary of State for SME/SMI Development Ibrahima Thiam outlined measures to enhance the coherence of government policies and interventions targeting SMEs, which account for nearly 95 percent of Senegal’s economic fabric but continue to face significant financing and structural challenges.
Central to the reforms is the creation of a national SME council that will bring together key actors from across the entrepreneurial ecosystem. The council will be responsible for monitoring policies, guiding support programs, and officially recognizing SMEs that comply with legal and regulatory standards. Recognition will enable these enterprises to access government support mechanisms and available opportunities more efficiently.
In addition, the government plans to establish a national SME promotion fund to improve financing and strengthen support mechanisms for the sector. Authorities said this fund will complement ongoing programs and ensure a more structured approach to supporting small and medium-sized businesses.
The Ministry of Agriculture, Food Sovereignty, and Livestock, led by Mabouba Diagne, said the budget for the Agency for the Development and Support of SMEs (ADEPME) will increase by over CFA2 billion (about $3.4 million). The ministry also announced plans to set up 30 incubators across Senegal’s eight territorial development hubs, aiming to reinforce the entrepreneurial ecosystem and foster SME growth.
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The reforms are part of ADEPME’s broader transformation plan, which seeks to strengthen the agency’s role in developing competitive growth clusters, improving access to finance, and supporting the formalization of businesses that currently operate in the informal sector.
Officials noted that SMEs face persistent challenges in accessing credit, as banks often perceive smaller businesses as high-risk borrowers. The planned reforms and funding measures are designed to address these barriers and stimulate private sector growth, employment, and innovation.
Alongside institutional reforms, the government has launched a large-scale financing program targeting CFA3,000 billion by 2028 to support SMEs and small and medium industries (SMIs). Authorities said the initiative is intended to mobilize public and private resources while creating an enabling environment for entrepreneurship, business expansion, and job creation.
Experts say that strengthening SME support is critical for Senegal’s economic strategy, as the sector not only provides employment opportunities but also contributes to innovation, regional value chains, and inclusive growth. By improving coordination and access to finance, the government aims to transform SMEs into a driver of sustainable development.
Thiam emphasized that the reforms will ensure that policies are implemented efficiently and transparently, while fostering partnerships among government agencies, private sector actors, and development partners. He said the creation of a national SME council and the promotion fund will enhance governance and provide a structured framework for supporting small and medium-sized businesses across the country.
The government’s plans reflect a broader commitment to industrial development, entrepreneurship, and economic diversification, positioning SMEs as key contributors to Senegal’s long-term growth objectives.
