INSUBCONTINENT EXCLUSIVE:
from a recent study presented in Dakar by the International Finance Corporation and APIX SA
role in job creation and poverty reduction
However, access to funding remains limited due to various constraints.These include persistent risks in production and marketing, raw
(Photo Internet reproduction)This situation hampers their ability to provide suitable financing options for agricultural enterprises
The study reveals that formal agri-food processors require 184 billion FCFA ($309 million) in financing.This figure excludes the needs of
informal processors, who make up the majority of the agri-food sector
The total funding gap is even larger when considering investment needs for agricultural production and marketing.Unlocking sustainable
financing for the agricultural sector requires an integrated and concerted approach
This strategy aims to address both the financial and non-financial needs of various stakeholders.Challenges in Accessing FinanceAccess to
long-term resources at competitive costs remains problematic for financial institutions
Farmers face multiple barriers to accessing finance.These include limited financial literacy, risk aversion, informal land tenure, low
membership in producer organizations, and slow adoption of new technologies
encounter their own set of obstacles
Banks are often reluctant to lend to them due to a lack of formalization and data on their activities.Other challenges include insufficient
Bathily acknowledges that access to financing remains a major challenge for these enterprises.The Senegalese government is working on new
strategies to address this funding issue
Their new growth strategy aims to proactively create investment opportunities in key sectors like agriculture.This approach requires a
deeper understanding of market dynamics
Bathily commended the IFC for preparing a diagnostic and framing project.This initiative aims to deepen understanding of the Senegalese
