Senegal unveils 200bn CFA to support private sector

Apr 21, 2020, 12:07 PM

The Minister of Economy, Planning and cooperation, Amadou Hott, reiterated the commitment of the state of Senegal to unlock an envelope of 200 billion CFA francs as a “quick cash” to “support” companies in difficulties in the face of the coronavirus.

“These are all companies that have a turnover that has fallen to a minimum of 33%. Companies that have lost all their turnover will be eligible. We will make comparisons of turnover between March and February. We have data on this. These companies will be able to go directly to their banker,” he said in Sunday’s jury show on Iradio, specifying in the wake that, all banks will also be put into contributions.

“We have targeted monthly loans to cover incompressible expenses such as salary, rent, etc., “insisted Hott, who recalls that these “loans” will allow companies to resist crisis over a period of three to four months during this period.

However, reassures the Minister of Economy, Planning and cooperation, repayment will be made one year after the end of the pandemic. “After the crisis period, the company will have to stay a year without paying back. It is from the 12th month that she will have to start repaying her loans over a period of five years,” said Amadou Hott.

Source: Seneweb