In Senegal, access to venture capital for young companies remains a major challenge. Despite a dynamic entrepreneurial ecosystem, startups face regulatory, tax, and structural obstacles that hinder the mobilization of private financing. The entrepreneurial network exceeded 19,000 companies registered with the NINEA in the second quarter of 2025, but few of them managed to secure venture capital financing.

These obstacles are evident on several levels. Administrative procedures for creating funds or investing in companies remain complex and sometimes costly. Tax regimes, still poorly adapted to the short cycles and high risks of venture capital, penalize potential investors. Finally, the lack of specialized local structures and financial management skills limits strategic support for startups, particularly in areas outside Dakar, where nearly 55% of new businesses are concentrated in the capital.

These obstacles are often most acute during the initial fundraising phase, when start-ups seek to secure the necessary funds for their development. The inability to overcome these barriers delays the industrialization of certain innovative ideas and reduces the ability of companies to fully integrate into regional and international value chains. The consequences are a slowdown in skilled employment and an increased reliance on foreign financing or entrepreneurs' personal funds.

For venture capital to become a real lever for growth, it is necessary to rethink regulation and taxation, develop appropriate support instruments, and create local consulting and financing platforms. The success of Senegalese startups will depend on their ability to combine local expertise and openness to international investors while overcoming persistent structural obstacles.