In office since April 5, 2024 as Secretary of State to the Minister of Industry and Commerce, responsible for the Development of Small and Medium-Sized Industries, Ibrahima Thiam, 38, fully appreciates the scope of his mission. Reforms, supervision and incentives for players in an essential segment of the local economic fabric are among its priorities. According to him, change and the objective of job-creating industrialization require an approach to endogenization of the economy, in perfect harmony with the vision of President Bassirou Diomaye Faye and the orientations of Prime Minister Ousmane Sonko, as he recalls this from the start of this interview.
From access to financing to conquering markets, including formalization, good governance and reinforced administrative organization, the challenges for upgrading SMEs are immense. “The need for financing only comes in fourth position,” estimates Mr. Thiam. As part of the 2050 vision, numerous reforms, particularly tax reforms, are underway. The State seeks to reduce tax expenditures (estimated at 2,200 billion FCFA in 2023) while broadening the tax base.
The interview also addresses the access of SMEs to public procurement. The positive discrimination introduced in the reform of the public procurement code aims to facilitate their participation, by emphasizing criteria such as the social commitments of companies. The competitiveness of SMEs must be considered at different levels: local, sub-regional, regional and continental, particularly within the framework of the ZLECAF (African Continental Free Trade Area).
Faced with a new economic context, marked by the entry of Senegal into the circle of oil and gas producers, the first cargo of gas being expected for export, the support of national companies becomes a strategic necessity.
An economist by training, holder of a DEA in Money and Banking from Cheikh Anta Diop University, Ibrahima Thiam held the position of Program Manager at the National Confederation of Employers of Senegal before his appointment.
