The Minister of Finance and Budget, Cheikh Diba, defended the draft laws on leasing and factoring before the National Assembly on Thursday, May 21, 2026. These bills were presented as key tools for improving access to financing for Senegalese businesses, particularly small and medium-sized enterprises (SMEs). Addressing the Assembly, the Minister explained that these mechanisms will allow economic actors to invest without immediately incurring often excessive acquisition costs. According to him, leasing is a suitable solution for businesses facing difficulties accessing traditional credit. "SMEs must no longer be stifled by a lack of financing," Cheikh Diba asserted, believing that these reforms aim to revitalize the national economy. The Minister noted that factoring will also allow companies with outstanding receivables to obtain liquidity more quickly, thereby improving their cash flow and supporting their operations.

For the Government, these instruments must strengthen financing for the real economy, improve the investment capacity of businesses, and support Senegal's overall economic transformation strategy. Cheikh Diba particularly emphasized opening the mechanisms to microfinance institutions, an innovation he considers essential for expanding access to financing in the regions and for informal sector actors. "Microfinance institutions are present even in the most remote localities. This will allow for better territorialization of public policies," he explained. The Minister acknowledged, however, several obstacles that still hinder the development of leasing, notably the costs associated with notarial deeds, transfer taxes, and stamp duties. He assured that studies are underway to assess the impact of these charges and to propose fiscal or administrative support measures to alleviate the costs borne by SMEs.

Sheikh Diba also discussed the efforts underway to strengthen the regulation of e-commerce in Senegal. He reiterated the existence of the law on e-commerce and the protection of personal data, while emphasizing the role played by accredited platforms in securing digital payments.

Finally, the minister emphasized the collaborative nature of the reforms, developed within the framework of the West African Economic and Monetary Union (WAEMU), with the participation of member states, experts, and economic stakeholders. According to him, the government will establish a permanent monitoring system to adjust the mechanisms and ensure their effectiveness in financing Senegalese businesses.