SUQUALI
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 gave partners the opportunity to expand their activities, reach rural areas, and invest in targets previously considered risky, in particular women and young people.
Status: Active
Country
Senegal
Period
2020-2024
Industries
Access to Finance
Commitment
$30M
Impact to Date
16,656
microentrepreneurs and 1046 SMEs received financial support, i.e. 16,9 million USD provided to participants in partnership with 23 implementing partners (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.
The establishment of (www.suqali.com), with dedicated support teams for participants and implementing partners. The Suquali platform supported the application process for the entrepreneurs and MSMEs, in particular, young people.
836
Capacity building of SMEs (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.