Project profile — Project to Support the Economic and Social Empowerment of Women and Youth in Senegal

• Senegal (100.00%)

• Formal sector financial intermediaries:
Formal sector financial intermediaries (24030) (12.00%)
Informal/semi-formal financial intermediaries (24040) (30.00%)
Education/training in banking and financial services (24081) (50.00%)
• Industry: Small and medium-sized enterprises (SME) development (32130) (8.00%)

• ICT as a tool for development (significant objective)
• Youth Issues (significant objective)
• Environmental sustainability (cross-cutting) (significant objective)
• Gender equality (significant objective)

This project aims to strengthen the socio-economic empowerment of 60 000 women and 6 000 young entrepreneurs in southern Senegal and peri-urban regions through a three-tiered financial inclusion strategy. Project activities include: (1) working in partnership with communities and local organizations to address constraints related to using financial products and services by women and youth to increase productive investment in businesses owned by this population; (2) working closely with community-based financial institutions to eliminate constraints on accessing financial products and services; and (3) providing state actors with technical support to make gender equality strategies more coherent and relevant when developing, implementing and evaluating financial inclusion programs and policies.

The expected outcomes of this project include: (1) increased access to financial products and services tailored to the needs and sustainable practices of businesses owned by women and young graduates; (2) increased productive investments by women and young graduates in their business; and (3) enhanced coherence in taking gender equality into account in the financial inclusion policies and programs that state actors develop and implement.

Results achieved as of March 2025 include: 1. Signing of 5 collaborations agreements with 5 partner financial institutions (PFIs); 2. Development of the innovation fund instrumentation aimed at supporting PFIs in their digital transformation. 3. Development of a financial education and entrepreneurship support program in collaboration with partner financial institutions and the sectoral ministries involved. 4. Establishment of a network of local organizations composed of 6 partners to deliver the financial education training program and support services to entrepreneurs. 5. Business management training for 1,255 entrepreneurs, including 147 young graduates and 121 women. 6. Signing of a management agreement with the Priority Investment Guarantee Fund (FONGIP) on the guaranteed mechanism. 7. Signing three (3) implementation contracts with non-financial support organizations for the delivery of financial training. 8. Development of five financial education modules for women and youth: (i) budgeting, (ii) savings, (iv) loans, credit, and debt, (iv) financial negotiation, and (v) financial products and services. 9. Training of trainers for 49 experts from project partners. These experts will ensure the modules are rolled out to beneficiaries. 10.Development of two financial education programs: one comprehensive program for beneficiaries accessing financial education for the first time, and a simplified program for those who have already received training or for active entrepreneurs. 11. Launch of financial education programs for 25,001 female beneficiaries in groups.

• Proactive disclosure
• Related activities: Loan guarantee fund-Support to women and youth's socioeconomic empowerment in Senegal