Through a dedicated day held in Dakar on June 18, 2025, the National Bank for Economic Development (BNDE) confirmed its strategic positioning in supporting local companies active in the extractive sector. This initiative is part of the concrete implementation of the agreement signed with the National Monitoring Committee for Local Content (CNSCL) in August 2024.
At the intersection of financial, industrial, and strategic issues, BNDE aims to become the reference bank for Senegalese SMEs in mining, gas, and oil.
In front of a gathering of public and private actors, Dr. Mor Bakhoum, technical secretary of the CNSCL and representative of the Minister of Energy, Oil, and Mines, praised this initiative: “It is part of the shared desire to build a strong, inclusive local content capable of generating real added value for the national economy. The extractive sector will only be beneficial if it is based on a strong local economic fabric supported by appropriate financing mechanisms.”
Continuing, Dr. Mor Bakhoum emphasized the importance of strong partnerships between financial institutions and local companies, in the face of persistent obstacles to accessing credit: inaccessible guarantees, rigid conditions, lack of knowledge of extractive value chains. For the CNSCL, the time for action is now: technical, strategic, and above all financial support.
A targeted offer for local content SMEs
For its part, the Director General of BNDE presented the bank’s ambition in this context of structural transformation: “What we are launching today is not simply a presentation of banking products. It is a pact of trust that we want to build with you. A long-term commitment, based on dialogue, co-construction, and the constant search for solutions adapted to your ambitions.”
Since 2014, BNDE claims to have made support for SMEs a priority, with a specific department dedicated to local content. The bank has trained specialized teams, designed financial products adapted to the realities of the extractive sector, and now, included this commitment in its “ENVOL 2025-2029” strategy, based on five pillars: commercial development, operational efficiency, digital transformation, human capital, and governance.
This day allowed for direct exchanges (B2B), active listening to the needs of companies, and networking with the bank’s teams. The stated objective is clear: to position Senegalese SMEs not as mere subcontractors, but as pillars of sovereign industrial development.
