Senegal Govt to Unveil 25-Year Plan to Cut Foreign Dependence, Boost Local Growth
Oluwasegun SanusiOctober 13, 20241 Mins read1.4k 
Senegal’s government has said it will introduce a new development program on October 14, to reduce reliance on foreign loans and prioritise local resources and human capital.
Prime Minister Ousmane Sonko emphasised that this is a shift from past development models, stating, “Senegal’s cabinet will present a new development program for the country on Monday that will include plans to move away from reliance on foreign loans and investment in favour of local resources and human capital.”
“The development models that have been offered to us or applied to us so far will never be able to develop our country. Therefore, this is the end of the era of reckless borrowing used to invest in projects that are not related to the creation of endogenous and sovereign development,” Sonko said.
He also noted that the government under President Bassiro Diomaye Faye aims to reduce poverty, triple per capita income by 2050 and achieve annual economic growth of 6-7 per cent.
It will be recalled that as part of its efforts to fulfil it campaign promises, Sonko, had vowed the to investigate the “widespread corruption” perpetuated by former President Macky Sall.
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