Senegal invests in youth and women entrepreneurs in Kaolack
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In Kaolack, Senegal, the Délégation générale à l’Entrepreneuriat rapide pour les femmes et les jeunes (DER/FJ) committed 510 million FCFA to empower young people and women through entrepreneurship.
The DER/FJ held a meeting led by the prefect of Kaolack, Mamadou Guèye, and attended by local professional organizations to discuss the initiative. Dr. Abdoulaye Niane, the general delegate, explained the program follows directives from President Bassirou Diomaye Faye to accelerate and broaden the impact of financial support on citizens.
The DER/FJ plans to promote its Nano-Crédit and BE-YES programs while tailoring public services to local needs. In the Kaolack region, the program aims to support 278 groups, and has already reached over 300 groups at the mid-point of the initiative. Niane also addressed the importance of repaying the loans, noting that repayment rates vary between funding sources. While some sources have low repayment rates, others exceed 50 percent.
The DER/FJ intends to improve overall repayment levels to ensure the long-term viability of the financial inclusion program.
