Senegal's Bold 25-Year Vision for Economic Sovereignty

Senegal has launched a 25-year development strategy focused on achieving economic sovereignty, sustainable resource management, and good governance. Driven by President Bassirou Diomaye Faye's efforts, the plan seeks to diversify the economy, increase electricity access, and restructure national debt amid challenges from legislative opposition and fluctuating economic growth forecasts.

On Monday, Senegal's government unveiled an ambitious 25-year development plan aimed at establishing economic sovereignty through competitiveness, sustainable resource management, and good governance.

Following President Bassirou Diomaye Faye's landslide election win, the plan was introduced as part of his promise to enhance livelihoods in the West African nation. The launch comes in anticipation of a snap legislative election next month.

Faye's administration intends to reshape Senegal's economy by moving away from raw material exportation toward local processing and valorisation, while IMF reports have tempered growth forecasts, reflecting economic challenges.

(With inputs from agencies.)