West African Development Bank and Senegal explore collaboration to expedite digital progress
Senegal and West African Development Bank to Collaborate on Digital Transformation
The West African Development Bank (BOAD) and the Senegalese government are in discussions to form a strategic partnership that could help accelerate Senegal's digital transformation journey.
On a recent occasion, a delegation from the BOAD met with the Senegalese Ministry of Communications, Telecommunications and Digital to explore potential synergies between Senegal's priority digital projects and the funding options offered by the BOAD. The meeting was focused on implementing the New Technology Deal, a national strategy aimed at digital modernization and increasing digital sovereignty, with a budget of $1.7 billion.
During the meeting, the BOAD presented its Digital Transformation Fund (FTD), an innovative financing mechanism jointly supported by BOAD and the German bank KfW. The FTD is designed to support high-impact digital projects, aiming to catalyze the modernization of information systems and public services in West African countries.
The FTD is being considered as a key financial tool to bridge a funding gap in Senegal's Technological New Deal. Specifically, it would provide financing for projects that modernize public administration and create a more dynamic digital ecosystem, addressing a current shortfall of 155 billion CFA francs in the Technological New Deal’s funding.
The minister, Alioune Sall, welcomed the convergence of views regarding the partnership and stated that it would be instrumental in Senegal's digital transformation journey. Both sides reaffirmed their commitment to building a structured and sustainable partnership, with the aim of enhancing digital sovereignty and the efficiency of public services.
The BOAD confirmed its dedication to supporting Senegal's efforts in digital transformation, and the minister expressed his gratitude for the potential collaboration. The partnership, if finalized, will mark a significant step forward in Senegal's digital transformation efforts, helping the country to accelerate its digital strategy goals and strengthen the efficiency and competitiveness of its digital economy.
Key points:
- The West African Development Bank (BOAD) and the Senegalese government are in discussions to form a strategic partnership for digital transformation.
- The BOAD's Digital Transformation Fund (FTD) is being considered as a key financial tool to bridge a funding gap in Senegal's Technological New Deal.
- The FTD aims to fill a 155 billion CFA franc financing gap in this program, facilitating digital modernization of public services and infrastructure.
- The partnership, if finalized, will enhance digital sovereignty and the efficiency of public services in Senegal.
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