Public Management

Senegal: Government adopts $1B plan to develop the Kedougou gold mining region

Senegal: Government adopts $1B plan to develop the Kedougou gold mining region
Friday, 24 November 2023 19:19

In Senegal, the Kedougou region, located 700 km from Dakar, contributes significantly to the country’s economic development. The paradox, however, is that this region is one of the nation’s poorest. A situation that poses a security risk for Senegal, according to the Institute for Security Studies (ISS).

The Senegalese government has adopted a $1 billion (CFA600 billion) investment plan for the Kédougou region. According to the minutes of the Council of Ministers meeting of November 22, the program spans the period 2024-2026 and will optimize the region's mining potential for sustainable development and youth employment.

At the moment, details regarding the project’s implementation are unknown. The government only stated that the program is "in coherence with PAP 3 [priority action plan, Editor's note] of the Plan Sénégal Emergent."

Gold is one of Senegal’s main exports, and Kédougou, a region located 700 km from Dakar, the capital, houses most of the country’s industrial and artisanal gold mines. Despite its contribution to Senegal's economic development, the region is one of the country's poorest. According to a report by the Institute for Security Studies (ISS) published in February 2022, this "gap between economic potential and poverty levels [...] fuels the population's frustration and sense of exclusion, making them vulnerable to recruitment by extremist groups."

In the report, the authors called on the authorities to adopt a multi-faceted preventive approach. This includes accelerating the formalization of artisanal and small-scale mining to reduce illegal exploitation and strengthen control over the gold marketing chain. State intervention must nevertheless be designed and implemented on a consultative basis to reduce tensions among the population and artisanal miners, the document states.

Emiliano Tossou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Togo raises $53M via bonds and bills, surpassing 30B XOF target Auction saw 160.86% bid coverage; OATs issued at 6.25% for three years Total...
Africa’s instant payment systems processed 64 billion transactions worth $1.98 trillion in 2024, according to AfricaNenda. The continent counted...
EIB and ZICB to mobilize €30M for Zambian agribusiness SMEs 30% of funds reserved for women-led enterprises; €4M risk-sharing...
IFC lends 170 million rand to Lula to boost digital, unsecured SME lending 80% of funds will support micro and small enterprises Deal strengthens a...
Most Read
01

Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...

UAE faces backlash over alleged role in Sudan’s gold and arms trade
02

DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...

DRC in Talks with Alibaba, Isoftstone to Develop a Chinese-Style E-Commerce Model
03

West African officials met in Lomé to improve municipal finances for crisis response Talks focuse...

West African Officials Draft Crisis-Proof Budget Strategy in Lomé
04

Launch led by Maroc Telecom, Orange, and Inwi Rollout targets 25% coverage by end-2025 under Digi...

Morocco Launches 5G Nationwide Ahead of 2025 Africa Cup of Nations
05

The Bank expects a 41% rise in 2025 and a further 6% increase in 2026. Gold topped $4,00...

World Bank sees precious metal prices staying high until 2027
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.