The Senegalese government recently initiated a financial restructuring program for press companies, in collaboration with the Ministry of Communication, Telecommunications and Digital (MCTN), the Small and Middle Enterprises Development and Supervision Agency (Adepm) and the Sénégal Press Diffusers and Press Editors’ Council (CDEPS). According to Sud Quotidien, this program, launched last Saturday, aims to support thirteen press companies with public funding.
Twelve media have been carefully selected to benefit from financial support totaling 288 million FCFA, representing 75 % of an eligible budget of 384 million FCFA. Among these companies, Africome is distinguished, having already been supported in October with a subsidy of 31 million FCFA on a budget of 41 million FCFA. Thus, thirteen companies enter this first circle of beneficiaries.
The companies concerned include the South Media group, Raceco, Xenos Group, E-Média Group, D-Média Group, Sud Communications Group, Almadies Média, the Universal 3M group (7 TV), the Leral group, Pressafrik, Lamp Fall TV and Origins SA. Each of these structures receives on average an allowance of 24 million FCFA, covering three quarters of the identified financial needs of each entity, estimated at around 32 million FCFA.
The program, which started in 2023, is part of the executives of the ETER program, funded by the World Bank, and the PACE program, supported by the African Development Bank (BAD). Its ambition is to restore the financial health of the media struck by the COVVI-19 pandemic, having lost between 70 % and 90 % of their turnover.
Mamadou Ibra Kane, president of the CDEPS, praised this initiative, which he described as an unprecedented structuring support of the State with the help of the Adepm. In an article in South Daily, he mentioned the importance of the contribution of Ibrahima Touré and Aliou Touré chartered accountants in the development of files. This support takes the form of subsidies covering 75 % of the needs of the media, the remaining 25 % being the responsibility of companies. The purpose of the system is to protect businesses, promote their restructuring, digitalization and economic recovery. Kane aspires that this project allows the press sector to become a solid, independent and free economic pillar.
