Bassirou Diomaye Faye’s Senegal faces a worrying situation concerning the financial health of several public companies.
According to the updated Multi-year Budgetary and Economic Programming Document (DPBEP) 2025-2027, the National Recovery Company (SNR), the National Company for the Management and Operation of State Built Heritage (SOGEPA) and the SN La Poste group are in great danger.
This report highlights an alarming deterioration in the equity of three iconic companies, underscoring the severity of the challenges they face.
The National Recovery Company (SNR) shows worrying financial results. With an initial share capital of 25 million FCFA, its equity plunged to -86.7 billion FCFA as of December 31, 2023.
This situation reflects faulty management and an accumulation of considerable losses which threaten its viability.
For its part, the National Company for the Management and Operation of State Built Heritage (SOGEPA) is also experiencing a significant deterioration in its equity.
Starting from a share capital of 10 million FCFA, it today finds itself with a deficit of -28.5 billion FCFA.
This drastic fall raises questions about the management mechanisms of this entity responsible for promoting the real estate assets of the Senegalese State.
The SN La Poste group is not immune to this spiral of degradation either. With a share capital of 2.9 billion FCFA, its equity has reached a critical level of -143 billion FCFA, a direct consequence of chronic deficits and an economic model in difficulty.
A former national pride, this flagship postal and financial services company now finds itself at a crossroads, requiring an overhaul of its strategy to avoid collapse.
This financial crisis is not limited to these three companies. Other public companies in Senegal or with majority state participation are also experiencing similar difficulties.
Senegal
