Dakar, Senegal, March 13, 2026 – To boost private sector growth, help create jobs, and support the rise of local champions in Senegal, IFC, a member of the World Bank Group, today announced a partnership with Société Générale Sénégal, a leading bank in financing the Senegalese economy.
The partnership will boost access to finance for micro and small businesses (MSMEs) in the country, including those owned and led by women.
By helping small businesses grow, IFC estimates the partnership will help create between 12,000 and 21,000 indirect jobs in Senegal over the next five years.
Through IFC’s senior loan of up to EUR 50 million (approximately XOF 32.8 billion), Société Générale Sénégal will increase its MSME loan portfolio, including in key sectors like health, education, and renewable energy, as well as its women-owned or led MSME portfolio over the next five years.
This will help address a critical financing gap for a crucial sector of the economy. MSMEs represent over 90 percent of businesses and generate about 40 percent of jobs in Senegal, but less than a quarter of MSMEs in the country have access to bank loans and the MSME finance gap stands at an estimated 7.2 percent of GDP.
At least 10% of the funds are expected to support women-owned or led businesses, which face even greater barriers to accessing finance.
“Our partnership with Société Générale Sénégal will help micro and small businesses grow and create jobs, while spurring broader economic growth,” said Aliou Maiga, IFC Director for the Financial Institutions Group in Africa. “It reflects IFC’s commitment to fostering the growth of current and future local champions in Senegal by working with partners who share our vision of expanding access to finance for MSMEs.”
“At Société Générale Sénégal, we are committed to expanding access to finance for SMEs, the backbone of the national economy. Our partnership with IFC enhances our capacity to deliver financing solutions, empowering entrepreneurs to grow, create jobs, and contribute to Senegal’s long-term economic development,” said Harold Coffi, CEO of Société Générale Sénégal.
IFC’s financing is supported by the IDA20 IFC-MIGA Private Sector Window (PSW) Blended Finance Facility, as part of the MSME Finance Platform – SME Envelope.
This investment is part of IFC’s broader strategy to support MSMEs in emerging markets and developing economies, focusing on priority sectors and underserved groups, including women entrepreneurs.
This transaction is part of the agreement signed in early 2024 between Société Générale and IFC, aimed at enhancing collaboration to accelerate support for sustainable finance projects.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Société Générale Sénégal
Created in 1962, Societe Generale Sénégal is the leader in the Senegalese banking market in terms of financing and the 3rd largest bank in the WAEMU zone.
Its business model is that of a universal bank offering a full range of products and services to all types of customers, covered by a network of 41 branches spread over virtually the entire territory and by spaces dedicated to the different customer segments, in particular:
· 10 dedicated spaces for Good Range and Pro (HDG) customers whose portfolio is generally held by branch managers or his assistant,
· 1 Premier branch for wealth management customers in Dakar,
· 3 Heritage Spaces
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