Project to Support and Enhance the Entrepreneurial Initiatives of Women and Young People in Senegal

Strategic Insights -

In Senegal, the Project to Support and Enhance the Entrepreneurial Initiatives of Women and Young People (PAVIE) has been making significant socioeconomic transformations since its launch in 2020. The project has received a one-year extension to complete its implementation under optimal conditions. Anouar Ouédraogo, the African Development Bank's project manager, has provided detailed information on the project's achievements and impact on the beneficiaries.

Key Takeaways:

  • The project has trained over 3,200 young people and women in specific trades and business management, with 3,176 businesses formalized and 6,441 businesses receiving funding worth 38 billion CFA francs.
  • The project has focused on training, support for formalizing businesses, funding, and post-funding follow-up, with a total of 37,286 direct and 30,870 indirect jobs generated or consolidated.
  • Technical and financial support has been provided to beneficiaries through partnerships with organizations such as the Small and Medium-Sized Business Development and Supervision Agency (ADEPME) and the Senegalese Institute of Agricultural Research (ISRA).
  • Three funding mechanisms are used to provide financial support, including direct funding, joint funding, and provision of a guarantee to cover the risk of entrepreneurs defaulting.
  • The project has helped structure sectors such as fishing, with young fishers' income increasing threefold, and has supported the creation of an ice-production unit for fish storage and trade.
  • The project has also helped strengthen value chains such as cashew nuts and rice, with the support of organizations such as the Centre for Horticultural Development (CDH) and the Upgrading Office (BMN).

Statistics:

  • 3,200 young people and women have been trained in specific trades and business management.
  • 3,176 informal sector businesses have been formalized.
  • 6,441 businesses have received funding worth 38 billion CFA francs.
  • 37,286 direct and 30,870 indirect jobs have been generated or consolidated.
  • 3,200 young fishers' income has increased threefold.

Sources:

  • https://apo-opa.info/44tUHxa
  • www.AfDB.org
  • https://apo-opa.info/3qOZDin
  • Distributed by APO Group on behalf of African Development Bank Group (AfDB).