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June 25, 2024

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Job creation in the agri-food industry: The Mastercard Foundation injects 27.4 billion CFA to finance 373 agri-entrepreneurs –

The Mastercard Foundation has pledged to inject 27.4 billion CFA francs into the agri-food sector in Senegal and the WAEMU zone, as part of its E4Y program. This project aims to stimulate the creation of dignified and fulfilling jobs for young entrepreneurs, in order to address the challenges of food sovereignty and unemployment in the country.This program, co-constructed with Téranga Gestion, will support 373 agri-entrepreneurs and aims to create 49,000 jobs in the agricultural sector. The Mastercard Foundation’s strategy will be to identify potential leading SMEs in agribusiness and provide them with technical and financial support to facilitate their growth.This project is part of the Mastercard Foundation’s overall objective of creating 30 million jobs in Africa by 2030, including 6.2 million in the WAEMU zone. It follows the success of the Suqali programme, launched after the Covid-19 crisis to support micro, small and medium-sized enterprises in Senegal, especially women and youth in rural areas.The Suqali programme has already financed 16,807 micro-entrepreneurs and 1056 small and medium-sized enterprises, creating more than 82,000 jobs since 2020. With an estimated repayment rate of 77%, this program has been a success for employment and economic empowerment of disadvantaged populations.By supporting young entrepreneurs and the agri-food sector, the Mastercard Foundation is demonstrating its commitment to addressing Senegal’s development challenges. Its E4Y program promises to be a game-changer and give hope to a generation of young people who are looking for opportunities to thrive and contribute to their country’s economy
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