On Thursday, October 13, 2022 in Dakar, Ahmadou Abdoulaye Diallo, Director General of the African Solidarity Fund, took part in a day to share guarantee and guarantee mechanisms Loan subsidies. Present at this meeting were business leaders, officials from the Ministry of Economy, Planning and Cooperation as well as project leaders seeking funding. On the occasion, Ahmadou Abdoulaye Diallo lamented the lack of knowledge of this financing institution by a large number of African project leaders.

The FSA is a financing solution that is available to companies in its member countries with “liquidity” and rated “A+ with a positive outlook” according to the Director General of the African Solidarity Fund. This funding institution has been implementing its new strategic plan called “Plan New Frontier 2025" since 2021 according to the authority that represents it. It is a document that aims to “revive” the African Solidarity Fund with the primary role that was assigned to it when it was created in 1975. It is also a catalyst for economic development and an essential “contributor” to the structural transformation of the African economy.

Similarly, this institution has a financial guarantee which, according to him, allows economic actors who do not know each other a priori to be able to work together. This guarantee is the “weak link” in the financial system in the UEMOA region.

“The African Solidarity Fund mobilized some 315 billion FCFA for 46 Senegalese companies. At first glance, this figure seems important. But that is far below the FSA's capabilities and the funding needs of its area of intervention,” he said.