SENELEC raises 108 billion FCFA on Luxembourg Stock Exchange for sustainable projects
via SeneNews2 min read
SENELEC, the national electricity company of Senegal, has listed 108 billion FCFA 164 million euros in Sustainability-Linked Bonds on the Luxembourg Stock Exchange and the Luxembourg Green Exchange. This marks a first for SENELEC, structuring the issuance as a securitization backed by unpaid electricity receivables. It is also among the first African operations to combine a sustainability-linked bond with a green component for environmentally compliant projects. According to SENELEC, 52.5% of the funds will be allocated to renewable energy and energy efficiency projects. The initiative includes measurable commitments to reduce electricity transmission network losses and improve public access to electricity. Papa Toby Gaye, SENELEC's Director General, stated that this fundraising diversifies financing sources, improves debt management, and mobilizes medium- to long-term resources under more competitive conditions. He also noted it reflects international investor confidence in the company's economic model and Vision Senegal 2050. While consumers will not see an immediate reduction in electricity bills, the investments are expected to yield medium- to long-term benefits. These include improved distribution quality, reduced outages, and better service continuity through infrastructure modernization and technical loss reduction. The development of renewable energies is also a key focus, aiming to reduce reliance on volatile fossil fuel prices and better control production costs. T
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President Bassirou Diomaye Faye is working to consolidate his influence in the Mbour department, a strategic area with 16 communes and nearly 400,000 voters. This initiative is part of his plan to launch a new political party while in office, a first in recent Senegalese political history. President Faye is building support by engaging with local elected officials, many of whom were previously associated with the Benno Bokk Yaakaar coalition, including former members of the Alliance for the Republic APR and the Socialist Party PS. This strategy aims to establish a strong territorial presence in Mbour, a department where he had previously campaigned without winning elections until the 2024 presidential election under the "Diomaye Président" coalition and PASTEF-Les Patriotes party. Recently, President Faye met with ten mayors from the Mbour department: Cheikh Issa Sall Mbour, Dr Téning Sène Ndiaganiao, Abdou Faye Sessène, Omar Tine Fissel, Alpha Samb Nguéniène, Pape Diouf Nguekokh, Ousmane Guèye Saly-Portudal, Mamadou Ndione Diass, Thierno Diagne Sindia, and Mansour Thiandoum Popenguine-Ndayane. These mayors have expressed their willingness to support the president's new party, potentially becoming founding members and representing it in future local elections. Mbour is a politically significant department, having shifted from a Socialist Party stronghold to APR influence in 2012, and then to PASTEF since the 2024 presidential election. Maintaining this momentum is crucial for
Must ReadDeputy Mbaye Dione has formally notified the Senegalese government regarding serious threats targeting Guinean nationals residing in Senegal. In a letter addressed to the Minister of Public Security and the Minister of Foreign Affairs, Dione highlighted concerns about potential expulsions and acts of vandalism planned for July 15. He emphasized that videos circulating on social media show a Senegalese individual making threats and calling for the expulsion of Guinean residents. Dione, who is also the mayor of Ngoundiane and leader of the AFP, stressed that any removal measures are solely within the state's jurisdiction and must adhere to legal frameworks, international conventions, and sub-regional agreements like those of ECOWAS, which guarantee free movement. He warned that these actions risk public disorder, retaliatory measures, and could damage Senegal's image as a hospitable nation. Dione urged the government to utilize cybersecurity measures to counter those inciting hatred and prevent a situation similar to the xenophobic incidents faced by foreigners in South Africa, cautioning that failure to act could set a dangerous precedent for Senegal in Africa.
The Alliance for the Republic APR is actively preparing for the arrival of its president, Macky Sall, in Dakar this Friday. Party officials and activists plan a significant welcome for the former head of state. Supporters are encouraged to gather in large numbers at Léopold-Sédar-Senghor International Airport in Yoff to show their support and create a moment of unity with their former leader. Sall will meet his partisans exclusively at the airport, with no other stops planned in the capital. All APR structures are being mobilized to ensure a strong presence at the airport, aiming to demonstrate support for Macky Sall and make this a powerful moment of communion between the former president and his political base.