Senegal - Country Commercial Guide
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Senegal’s relatively good telecommunications infrastructure and growing Internet market have laid the groundwork for the further development of e-commerce and the sector is growing in Senegal.  Jumia and TafTaf dominate online retail shopping, with other e-commerce companies scrambling to enter the market.  Social media applications including Facebook, Instagram, TikTok, and Whatsapp, play a significant role in eCommerce for marketing and advertising.  Meanwhile mobile money applications including Orange Money and Wave play an outsized role in payments.

According to the 2021 Study on Baseline Situation of Financial Inclusion , 21 percent of adult Senegalese have opened a bank account or subscribed to an insurance policy.  Thirty-one percent use electronic currency, which brings the overall access rate to financial services at 41.6%.  The Ministry of Budget and Finance’s Financial Inclusion National Strategy has a five-year (2022-2026) goal to achieve an inclusive financial rate of 65% of adults and 90% of SMEs. Through the Central Bank (BCEAO), the Government of Senegal has committed to strengthen a range of financial services.  The introduction of special Visa and MasterCard services by some local banks has tremendously facilitated financial inclusion in the country.  Most Senegalese companies or individuals with tailored credit limits based on account balances and other factors can complete for international financial transactions. Mobile money plays a leading role in electronic financial transactions throughout the country.