Follow

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Subscribe

How Senegal’s new government is setting the stage for success

How Senegal's new government is setting the stage for success www.whoownsafrica.com How Senegal's new government is setting the stage for success www.whoownsafrica.com
Senegal's new President Bassirou Diomaye Faye, appointed firebrand politician and key backer Ousmane Sonko as prime minister.

Senegal’s new government, under the leadership of President Bassirou Diomaye Faye and Prime Minister Ousmane Sonko, is making significant strides towards achieving a more prosperous and self-reliant future for the country.

With a clear vision to break away from the shackles of foreign control, particularly from France, the government is implementing bold reforms to take control of its resources and reshape its economy.

How Senegal's new government is setting the stage for success www.whoownsafrica.com
Newly elected President Bassirou Diomaye Faye takes the oath of office as president during the inauguration ceremony in Dakar.

One of the key areas of focus for the new government is the reduction of foreign currency debt, which has been a major burden on previous administrations.

Finance Minister Abdourahmane Sarr has outlined a strategy to strengthen bilateral and multilateral ties while also working towards reducing dependence on foreign assistance in public policies. With government debt already at a concerning 72% of GDP, Senegal is determined to turn the tide and pave the way for sustainable economic growth.

Advertisement

New energy, oil, and mines minister Biram Souleye Diop announced that the West African country may also “renegotiate all existing contracts” to ensure they align with the public interest.

How Senegal's new government is setting the stage for success www.whoownsafrica.com
Supporters of Mr. Faye celebrating in Dakar.

This statement came on the heels of President Faye ordering an audit of the oil, gas, and mining sector following his inauguration.

Faye’s election victory last month was fueled by widespread dissatisfaction with the previous government’s handling of high unemployment and growing inequality among the country’s 18 million people.

The new president faces the challenge of steering the nation through a period of slower economic growth, exacerbated by external factors like the COVID-19 pandemic.

How Senegal's new government is setting the stage for success www.whoownsafrica.com
Senegal’s new President Bassirou Diomaye Faye, appointed firebrand politician and key backer Ousmane Sonko as prime minister.

French President Emmanuel Macron’s gesture of congratulating Faye on his election in Wolof, the predominant local language in Senegal, suggests that France is closely monitoring the new leader’s stance on Senegal’s sovereignty.

Babacar Ndiaye, a senior fellow at the Timbuktu Institute in Dakar, believes that France, following its challenges in the Sahel region, is making efforts to repair its relations with key French-speaking partners like Senegal.

This diplomatic move indicates a shift in France’s approach to its former colonies and its commitment to maintaining strong ties with African nations.

How Senegal's new government is setting the stage for success www.whoownsafrica.com
Senegal’s newly elected president Bassirou Diomaye Faye addresses the nation ahead of Senegal’s independence day at the presidential palace in Dakar, Senegal, April 3, 2024.

In addition to addressing the debt issue, the government is also looking to assert more autonomy for the central bank, which oversees the West African Economic and Monetary Union. By advocating for a more active monetary policy and pushing for greater financial market development, Senegal aims to enhance its economic stability and create a more conducive environment for growth and investment.

Despite the challenges ahead, Senegal’s new government is forging ahead with determination and resilience. With a strong leadership team in place and a clear roadmap for reform, the country is well-positioned to set the stage for success in the years to come.


Discover more from Who Owns Africa

Subscribe to get the latest posts to your email.

Add a comment

Leave a Reply

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement

Discover more from Who Owns Africa

Subscribe now to keep reading and get access to the full archive.

Continue reading