fbpx

SUQALI

Target Impact

Expand Access to Financing for Micro-Entrepreneurs and Micro, Small and Medium-Sized Enterprises in Senegal as part of the Mastercard Foundation’s COVID-19 Recovery and Resilience Program (CRRP).  Suqali also gives partners the opportunity to expand their activities, reach rural areas, and invest in targets previously considered risky, particularly women and young people.

Status: Active

Country

Senegal

Period

2020-2024

Industries

Access to Finance

Impact to Date

16,656

Microentrepreneurs and 1046 SMEs have received financial support.  The program has provided 16,9 million USD  to participants in partnership with 23 implementing partners, including public and para-public financing structures, banks, microfinance and mesofinance institutions, private equity funds, incubators, accelerators, networks of investors and/or entrepreneurs.

42,964

Jobs created, of which 52 percent were for young people and 70 percent for women.

1 Website

The establishment of the Suqali website with dedicated support teams for participants and implementing partners. The Suqali platform supports the application process for entrepreneurs and MSMEs, particularly young people.

836

Capacity building of SMEs, including training and coaching.

Partnership Focus

Indirect financing.

Direct co-financing.

Emergency Relief Fund.

Capacity building.

Digitize project financing activities to promote financial inclusion.

In Partnership With

Teranga Gestion is a consulting and fund management company established in Senegal in 2016, whose mission is to promote access to finance for local businesses. Teranga Gestion’s activities cover the need to support small and medium-sized enterprises (SMEs) across different sectors of activity (from agribusiness to small industry, services, ICT, education or health). The multidisciplinary team has positioned the company as a reference in the following activities:

  • Private Equity, through fund management, Teranga Gestion raises funds to be invested in high-potential companies; 
  • Consulting to International Development Institutions,
  • Support to investment funds,
  • Accompaniment and advice to SMEs, and 
  • Assistance in structuring incubators.

 

Subscribe to Our Newsletter

To stay up to date with the Mastercard Foundation, sign up for our monthly newsletter. Get youth voices, impact stories and news and announcements all direct to your inbox.

*By signing up for the Mastercard Foundation’s newsletter, you accept our privacy policy.