The United States has invested more than $500 million, or approximately 315.5 billion CFA francs, in Senegal over the past ten years. This investment, separate from the funds allocated by the Millennium Challenge Corporation (MCC), was confirmed by Katherine Musgrove Ketchum, head of the economic and commercial section of the American embassy in Senegal.
The Development Finance Corporation (DFC), the US government’s development finance institution, has been a central player in this commitment, targeting key sectors such as energy, health, agribusiness and business support. . Since 2014, approximately $500 million has been injected into the Senegalese economy, making Senegal a strategic partner for the United States. In addition, around fifty American companies are currently present in Senegal, illustrating the growing importance of the American private sector in the country, reports RTS.
The Senegalese-American Joint Cooperation Commission, created to strengthen bilateral economic cooperation and promote investment opportunities, held its first meeting in November in Washington. Katherine Musgrove Ketchum stressed that this platform will allow the two nations to meet regularly to discuss important issues in order to consolidate their economic ties.
The recent visit of Senegalese President Bassirou Diomaye Faye to Silicon Valley also opened up new prospects for collaboration. Katherine Musgrove Ketchum hopes that this initiative will promote partnerships between companies in Silicon Valley and those in Senegal, particularly in the sectors of technology, digital infrastructure and entrepreneurship.
“We hope that this visit will lead to increased investment, more innovation and more jobs,” she said, expressing optimism about the positive impact for Senegal.
With these substantial investments and the creation of new opportunities for cooperation, economic relations between the United States and Senegal appear set for a prosperous future.
