Senegal: Banks Provided $ 7.5 Million in Private Sector Loans in 2017

Senegalese banks have had a generous hand for the Senegalese private sector. In fact, these institutions granted the sector an amount of CFAF 4 209.1 billion ($ 7.5 million) in 2017 in terms of credit, compared to CFAF 3,243.9 billion ($ 5.8 million). in 2016, an increase in relative value of 16.5%.

According to data provided by the Joint Annual Review (RAC) of the Ministry of Economy, Finance and Planning to the press Tuesday 31 July, these declared credits represent 33.7% of the GDP against 28.4% in 2016.

Credits mainly granted to the sectors of the trade, the hotel industry, the manufacturing industries and the services to the collectivity

"Average lending rates (interest rate expressed as a fixed or variable percentage applied to borrowed capital or the amount of credit used on an annual basis) increased to 6.0% in 2017 from 5.7%. % in 2016. However, these rates remain the lowest in the U West African Monetary Union (WAEMU) which recorded a rate of 7.0% in 2017, "notes the RAC document.

As of December 31, 2017, Senegal's banking landscape consisted of 29 credit institutions (25 banks). and 4 bank financial institutions) against 27 credit institutions in 2016.