AGP Executive Report

IMF Deal for Senegal: Senegal has reached a staff-level agreement with the IMF for a US$2.2bn, three-year programme to restore debt sustainability after previously hidden borrowing froze funding; the deal still needs IMF management and Executive Board approval, with reforms focused on stronger debt management, fiscal transparency, and a revised budget. Regional Leadership: Senegal’s Lieutenant General Birame Diop has been installed as ECOWAS Commission President in Abuja, taking over from Omar Alieu Touray with priorities including regional connectivity and the Eco single-currency push. Energy for Mining: Wärtsilä will supply five Wärtsilä 32 engines for a 14MW captive power plant at Senegal’s Diamba Sud Gold Project, supporting reliable off-grid electricity and future renewable integration. Trade & Investment Push: President Bassirou Diomaye Faye met UAE trade minister Al Zeyoudi in Dakar to expand cooperation in mining, renewable energy, infrastructure, food security, and logistics. Sickle Cell Industrial Health: Senegal is highlighted for moving toward local production of sickle cell treatment, linking health access with domestic industry.

IMF Deal for Senegal: The IMF has agreed a $2.2bn, three-year loan package for Senegal after a prior $1.8bn programme was frozen over undisclosed debt, with reforms focused on debt management, fiscal transparency and a revised budget. Regional Leadership: Senegal’s Lieutenant General Birame Diop has been installed as ECOWAS Commission President, taking over from Omar Alieu Touray with major priorities including regional connectivity and the Eco single-currency push. Mining Power for Diamba Sud: Wärtsilä will supply 14MW captive power for Fortuna Mining’s Diamba Sud gold project in Senegal, using five Wärtsilä 32 engines to keep remote operations running and support future renewable integration. Women’s Finance Boost: AfDB and AXIAN launched a digital finance programme for 34,000 women-led enterprises, including Senegal, using mobile platforms for lending plus training. Sahel Investment Lens: A new push argues investors should look beyond Sahel “crisis” narratives to its underfinanced agricultural market and fast-growing youth-led business activity. Shipping Risk in Hormuz: Senegal Prosperity was among tankers hit in the Strait of Hormuz amid rising US-Iran tensions, underlining ongoing fuel-route disruption risks. Sickle Cell Manufacturing: Senegal is highlighted for locally manufacturing generic sickle cell treatment, tied to wider WHO-backed hydroxyurea access efforts. Food Trade Watch: Dakar’s onion market is reopening for imports after local stocks ran low, with pricing and licensing still key for exporters.

IMF & Debt Restructuring: Senegal has reached a new $2.2bn IMF loan deal (36 months) after a prior $1.8bn programme was frozen over undisclosed debt, with the agreement aimed at fiscal reforms and unlocking further financing. Energy & Industry: The MSGBC Basin is shifting from discoveries to delivery, with Senegal and Mauritania pushing gas and LNG projects; in Senegal, Yakaar-Teranga is advancing to cut fuel imports and support power and industry. Mining Power Buildout: Fortuna Mining’s Diamba Sud gold project in Senegal secured a 14MW captive power plant contract from Wärtsilä, targeting first gold pour in 2028. Shipping Risk for West Africa: New attacks in the Strait of Hormuz have hit tankers including the Senegal Prosperity, raising insurance and routing risks that can ripple into fuel costs for African economies. Food Trade Watch: Dakar’s onion market is reopening after a long wait, with importers weighing pricing, licensing, and volume prospects for Senegal’s buyers. Women & Growth Lens: A new focus on women’s economic leadership argues Africa needs system change, not just inclusion, to stop economies relying on women’s labour without power or recognition.

IMF Deal for Senegal: The IMF has reached a staff-level agreement with Senegal on a new $2.2bn, 36-month Extended Credit Facility to back the 2026–2029 reform program, after a prior $1.8bn deal was suspended over previously unreported debt; approval now depends on the IMF board and Senegal securing financing assurances, with “decisive corrective measures” tied to the misreporting case. Mining Power for Production: Fortuna Mining’s Diamba Sud Gold Project in Senegal has secured a 14MW captive power plant order from Wärtsilä, with delivery set for March 2027 and operations expected before end-2027, supporting a first gold pour target for 2028. Aquaculture Push: Senegal’s National Agency for Aquaculture (ANA) has started installing the country’s first offshore aquaculture pilot, launching marine cages off Diakhanor to boost seafood supply, create jobs, and reduce pressure on wild stocks. Energy Access Angle: IRENA says West Africa’s solar mini-grid growth needs enabling conditions—skills, certification, safety standards, and open metering—covering Senegal alongside Burkina Faso, Mali, and Nigeria. Dakar 2026 Logistics & Culture: The Dakar 2026 Youth Olympic flame will tour Senegal starting Sept. 14, with events across all 14 regions until Oct. 30.

IMF Deal for Senegal’s Recovery: The IMF reached a staff-level agreement with Senegal on a new $2.2bn, 36-month Extended Credit Facility to back the 2026–2029 reform plan after the 2023 programme was frozen by a hidden-debt scandal; approval by the IMF Executive Board is still pending, with Senegal also expected to take “decisive corrective measures” tied to misreporting and secure financing assurances. Aquaculture Push (Blue Economy): Senegal’s National Agency for Aquaculture has started installing the country’s first offshore aquaculture project, launching a CFA 350m pilot with marine cages off Diakhanor to boost seafood supply and jobs while environmental groups and artisanal fishers urge caution. Power Investment in West Africa: UAE-based ePointZero agreed to buy a 90% stake in Azura Power, a move that strengthens regional generation capacity including Senegal’s Tobene plant, as the deal targets long-term infrastructure scale across Nigeria, Senegal and Mozambique. Shipping Risk from Hormuz Tensions: The US-Iran tanker standoff continues to rattle oil logistics, with attacks and “tanker-for-tanker” retaliation raising fears for global energy flows—an indirect risk for Senegal’s import-dependent economy. Sports & Talent Market (Senegal): Ismaïla Sarr’s agent renewed calls for respect for African players in transfer negotiations after Senegal internationals’ moves stalled, highlighting how career decisions can be driven by clubs and fees rather than players’ voices.

IMF Deal for Senegal: The IMF says it has reached a staff-level agreement with Senegal on a new 36-month Extended Credit Facility worth about $2.2bn, aimed at the 2026–2029 reform programme, but it still needs IMF board approval and “decisive corrective measures” tied to earlier misreported debt data. Power & Investment: UAE-based ePointZero plans to buy a 90% stake in Azura Power, bringing Azura’s Senegal generation assets (including the Tobene plant) under new majority ownership, with the deal subject to approvals. Mini-grids & Batteries: IRENA highlights that solar PV mini-grids with battery storage are key for electrification in Senegal, Mali, Burkina Faso and Nigeria, with Senegal among the smaller but growing near-term markets. Energy Security Shock: Escalating US–Iran attacks in the Strait of Hormuz are disrupting tanker traffic and pushing oil prices near recent highs—an external risk that can quickly hit Senegal’s import-dependent economy. Senegal Health Industry: Senegal is reported to have launched West Africa’s first locally made sickle cell drug, targeting regional markets. Regional Finance Governance: ECOWAS names a new GIABA Director-General, strengthening anti–money laundering and financial crime defenses across West Africa. Trade & Food Systems: A major Africa food-systems forum in Kigali focuses on building resilience as fertilizer and food import pressures rise.

IMF Financing for Senegal: The IMF has agreed a new $2.2bn, 36-month loan programme for Senegal, after suspending a prior deal over previously unreported debt; the new support backs Senegal’s 2026–2029 reform plan but also requires “corrective measures” tied to misreported data, pending IMF board approval. Power & Investment: Abu Dhabi’s ePointZero (2PointZero Group) says it will buy a 90% stake in Nigeria’s Azura Power, a deal that would control 752MW of operating generation across Nigeria, Senegal (Tobene, 116MW) and Mozambique, subject to regulatory approvals. Regional Electricity Integration: The World Bank reports West Africa has expanded cross-border power links with 4,000km of transmission lines across 15 countries, helping millions gain access and lifting regional power trade to about 8% of generation. Energy Security Shock: Renewed US-Iran tensions have again raised shipping risk in the Strait of Hormuz, with reports of attacks on tankers including the Senegal Prosperity (Liberian-flagged, operated by Sinokor), adding pressure to global oil flows and prices.

Pharma & Local Manufacturing: Senegal has launched Drepaf, West Africa’s first locally made generic sickle-cell drug (hydroxyurea), produced by Dakar’s Teranga Pharma to cut costs and reduce dependence on imports, with supply talks reportedly underway for Burkina Faso, Guinea, Côte d’Ivoire, Cameroon, Gabon and the DRC. Energy & Infrastructure Investment: ePointZero agreed to buy 90% of Azura Power, giving the Abu Dhabi investor control of 752MW of operating generation across Senegal, Nigeria and Mozambique, pending regulatory approvals. Trade & Industry Diplomacy: Senegal’s Dakar Chamber (CCIAD) met the Venezuelan Embassy to reactivate bilateral trade, highlighting opportunities in non-traditional sectors and training in medicine and oil. Mining & Jobs Signals: Cora Gold added Russell White to its board as it pushes mine construction at Sanankoro in Mali, bringing West Africa processing and delivery experience including Senegal’s Mako project. Regional Integration: ECOWAS’ new chief General Birame Diop pledged renewed engagement with Burkina Faso, Mali and Niger, arguing geography and economic ties make separation unsustainable. Shipping Risk (Global, but impacts Senegal’s energy costs): Two supertankers, including the Senegal Prosperity, were hit by projectiles in the Strait of Hormuz, raising oil-price and logistics uncertainty.

Senegal-Asia Trade: A Senegal business forum on China’s zero-tariff policy says exporters can’t just sell more—they must finance orders, meet food standards, and handle testing, registration and trademark rules to enter the Chinese market. ECOWAS Unity Push: ECOWAS’s new Commission chief, General Birame Diop, says the bloc must rebuild unity and reopen meaningful engagement with Burkina Faso, Mali and Niger, arguing geography and economic ties make separation impossible. Senegal Credit Pressure: Moody’s downgraded Senegal’s sovereign rating again to Caa2, citing higher default risk, liquidity strain, and reliance on costly regional refinancing. Power & Investment: Abu Dhabi’s ePointZero (2PointZero Group) agreed to buy 90% of Azura Power, which operates in Senegal and other African markets, signaling fresh capital for generation capacity. Mining Market Watch: Resolute Mining shares jumped after profit more than doubled, with the company operating the Syama gold mine in Mali and the Mako mine in Senegal. Food & Land Restoration: A Senegal-linked land restoration model highlights greenhouses plus agroforestry to boost income while restoring land.

Senegal Health & Pharma: Senegal became the first African country to locally manufacture a generic sickle cell treatment, DREPAF (hydroxyurea-based), produced by Teranga Pharma with Drep.Afrique, with marketing authorisation in April 2025 and distribution starting in early 2026—aimed at improving access and lowering costs across six target African markets. Senegal Public Finance: Moody’s further downgraded Senegal’s sovereign credit rating from Caa1 to Caa2, citing higher default risk tied to persistent liquidity pressures, refinancing challenges, and reliance on more expensive regional markets. Energy & Power (Regional, with Senegal assets): Abu Dhabi’s ePointZero (2PointZero Group) agreed to buy a 90% stake in Azura Power, which operates in Nigeria, Senegal and Mozambique (including Senegal’s Tobene plant), as Africa’s electricity demand is expected to nearly double by 2040. Water & Agriculture (Senegal): President El Ghazouani inspected a water supply project for 165 villages using water from the Senegal River, also including irrigation for 3,500 hectares to boost agricultural capacity. ECOWAS Tourism: ECOWAS adopted a framework to strengthen and accredit regional tourism business associations across West Africa, pushing for better governance and credibility. Trade & Food Industry (Regional): India’s BIRC 2026 is drawing 3,317 buyers from 138 countries, including Senegal, signaling potential new food trade routes for rice exporters.

Electricity & Utilities: Nigeria’s power sector is still bleeding cash: a report says N1.36trn of electricity was unpaid in 2025, with billing efficiency at 81.14% and collection efficiency at 77.60%, leaving N669.49bn outstanding. Pharma & Local Industry: Senegal’s Teranga Pharma is scaling a $7.1m sickle-cell project, producing the generic Drepaf locally and targeting six African markets as it reduces dependence on imported medicines. Mining Power for Senegal: Wärtsilä will supply five 32-engine sets for a 14MW captive power plant at Fortuna Mining’s Diamba Sud gold project in Senegal, with delivery set for March 2027 and operations by end-2027. Energy Access & Solar: Africa is on track for a record 2026 solar year—17GW expected, up 45%—as countries push solar mini-grids to close major electricity gaps, including in Senegal. Agri-Commerce: UfarmX says it has enabled $6.8m in agricultural commerce across Nigeria, Senegal and Liberia, using credit-scored farmer data to connect inputs and post-harvest markets. Water Infrastructure: President El Ghazouani inspected a water supply project for 165 villages in Brakna, Tagant and Assaba, drawing from the Senegal River and supporting irrigation for 3,500 hectares.

Water & Agriculture Delivery: President El Ghazouani inspected a water supply project for 165 villages in Brakna, Tagant and Assaba, drawing from the Senegal River and also irrigating 3,500 hectares to boost farming capacity. Mining Power Build-Out: Wärtsilä will supply five 32-generating sets for a 14MW captive power plant at Fortuna Mining’s Diamba Sud gold project in Senegal, with delivery set for March 2027 and operations targeted for end-2027. Energy Access Push: New analysis says Africa is on track for a record 17GW of solar installations in 2026, while IRENA points to solar mini-grids as key for climate resilience and rural electrification in places including Senegal. SME Support (Regional): UNDP has started verifying women-led SMEs in post-rice production in Sierra Leone under the EWASME project, funded by IsDB and co-funded via We-Fi, with Senegal included in the wider program footprint. Agri-Commerce Tech: UfarmX says it has facilitated $6.8m in agricultural commerce across Nigeria, Senegal and Liberia and plans expansion into Kenya. Industrial Talent & Skills Gap: A conference debate in Accra highlighted that Africa’s energy transition is missing the people to run it—local operators, technicians and institutions, not just hardware.

Senegal Mining Power: Wärtsilä is set to supply five Wärtsilä 32 engines for a 14MW captive power plant tied to Fortuna Mining’s Diamba Sud gold project in Senegal, with delivery planned for March 2027 and commissioning by year-end—aimed at keeping remote operations running while enabling future renewables. Senegal Solar Push: New analysis says Africa is on track for a record 17GW of solar installations in 2026 (+45% year-on-year), with solar mini-grids highlighted as key for rural electrification in Francophone West Africa including Senegal, where access can be as low as 2–10% in some areas. Agri-Finance Across the Region: UNDP has started verifying women-led SMEs in post-rice production across Sierra Leone under the EWASME project, funded by IsDB and co-funded via We-Fi, with the programme operating across Guinea, Niger, Senegal and Sierra Leone. Fuel & Food Pressure: A report on fertilizer shocks links higher urea prices to disrupted shipping routes, warning that relief isn’t resilience for African food systems—especially where dependence turns distant crises into local price spikes. Energy Transition Skills Gap: A conference in Accra argued Africa’s energy transition is missing the people to run it, stressing that hardware rollouts won’t scale without local operators, regulators, and maintenance capacity.

Energy & Industry: Wärtsilä will supply five 32 generating sets for a 14MW captive power plant at Fortuna Mining’s Diamba Sud gold project in Senegal, with delivery set for March 2027 and operations expected by end-2027—aimed at reliable off-grid power and future renewables integration. Power & Access: New analysis says Africa is on track for a record 17GW of solar installations in 2026 (+45% y/y), with solar mini-grids highlighted as key for rural electrification in countries including Senegal. Mining Power Supply (follow-up): A separate Wärtsilä order also points to Senegal’s growing demand for dependable generation as mines plan for long-term operations. Agri-tech & Trade: UfarmX says it has enabled $6.8m in agricultural commerce across Nigeria, Senegal and Liberia, using credit-scored farmer data to connect smallholders to inputs and markets, with expansion planned into Kenya. Macroeconomic Shock: Morocco’s oil and gas import bill rose by $2.2bn (March–August 2026) amid the Strait of Hormuz crisis—an example of how fuel-price spikes ripple into regional costs and supply chains. Global Policy (indirect): UN Security Council straw polls put Guyana’s Carolyn Rodrigues-Birkett among frontrunners for the next UN Secretary-General, with Senegal’s Macky Sall listed among candidates.

Solar Push in Africa: New analysis says Africa could hit a record 17GW of solar installations in 2026 (+45% year-on-year), with solar mini-grids highlighted as key for rural electrification in places like Senegal. Mining Power for Senegal: Wärtsilä has won orders to supply engines for Fortuna Mining’s Diamba Sud gold project in Kédougou, aiming for a 14MW captive power plant that can later integrate renewables. Agri-Finance Growth: Nigeria’s UfarmX says it has facilitated $6.8m in agricultural commerce across Nigeria, Senegal and Liberia, using credit-scored farmer data to unlock inputs and markets. Senegal Health Industry Win: Teranga Pharma has started producing Drepaf, a locally made generic hydroxyurea for sickle cell, positioning Senegal as a manufacturing base for a frontline treatment. Energy Transition Skills Gap: An Africa energy conference debate turned to a practical question: who will run the transition, stressing local capacity beyond imported hardware. Water Investment Diplomacy: Senegal is among countries backing a new blended-finance upstream de-risking facility to accelerate water projects.

Mining Power for Senegal: Wärtsilä will supply five Wärtsilä 32 engines for a 14MW captive power plant at Fortuna Mining’s Diamba Sud gold project in Kédougou, with delivery set for March 2027 and operations targeted by end-2027—built for remote, off-grid reliability and designed to later integrate renewables. Solar for Access: New analysis says Africa could hit a record 17GW of solar installations in 2026, while IRENA highlights solar mini-grids as key for rural electrification in Francophone West Africa, including Senegal where access can be as low as 2–10% in some areas. Water Finance Push: Senegal and Namibia co-chair an AU panel welcoming a GIP blended-finance upstream de-risking facility aimed at accelerating USD 10–12bn water investment pipelines. Industrialisation Rankings: The AfDB Africa Industrialisation Index shows Morocco overtaking South Africa at the top, with Senegal and Côte d’Ivoire breaking into the top 10—useful for tracking where manufacturing momentum is building. Local Pharma Milestone: Teranga Pharma starts producing Drepaf, a locally made generic hydroxyurea for sickle cell—an important step for access and cost in Senegal’s health industry.