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
Reforms aim to improve efficiency, attract investment, boost lending Move follows bank recapitalization and push to support real sector Nigeria’s...
Senegal banks’ holdings of government securities rise 123% in 2025 Treasury borrowing drives shift toward longer-term bond issuance Credit to private...
Kenya signs supplementary budget raising spending to 4.69 trillion shillings Funds target security, education, housing, agriculture, health...
Gabon considers agency to strengthen asset recovery efforts Proposal targets illicit financial flows, financial crime enforcement Plan...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
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.