The Senegalese government recently unveiled its ambitious five-year action plan for 2025-2029, kicking off the first phase of the “Senegal 2050” national transformation agenda. This strategic shift replaces the former President Macky Sall’s Plan Sénégal Emergent (PSE) and comes with a significant investment of 18,493.83 billion FCFA ($3.3 billion).
Director Souleymane Diallo shared insights into the funding sources, with the public sector contributing 62.3%, the private sector 14.1%, and public-private partnerships (PPPs) making up the rest. President Bassirou Diomaye Faye led the announcement ceremony, emphasizing the plan’s alignment with the Pastef party’s vision.
Highlights of the Economic Transformation Plan
The plan prioritizes decentralization, local finance management, digitalization of justice services, and the formation of eight territorial poles for economic growth across various regions. The target is to achieve 7% economic growth by 2029 by implementing fiscal reforms, debt management, and expanding the tax base.
The government also aims to engage the diaspora, improve the business environment through digital transformation, and diversify funding sources to create a prosperous and sovereign Senegal.