Money transfers from Senegalese from the exterior is reaching historic levels. In 2024, they rose to 2 211 billion CFA francs, greatly exceeding public aid in development and confirming, more than ever, their central role in the economy Senegalese

According to data from the Central Bank of West African States (BCEAO), these financial flows were estimated at 1 600 billion FCFA in 2023, before increasing sharply in 2024. They now represent nearly 12% of the country's gross domestic product (GDP). This dynamic places diaspora remittances among the main currency sources, at the same level, or even above, certain sectors traditional exports.

For the Senegalese authorities, this Financial wealth is a major asset. “This diaspora is our gold. financial. She is patriotic, economically solid and deserves to become a central player in the financing of our economic sovereignty”, declared the Prime Minister Ousmane Sonko. With this in mind, the government has chosen to redirecting some of these resources towards direct State funding, by opening up its loans more to the diaspora.

This strategy was materialized by the launch of diaspora bonds, designed as instruments for mobilizing the savings of Senegalese living abroad, in an approach based on economic patriotism.

The third operation of Public Appeal to savings (APE) proved to be successful. While the original objective was fixed at 300 billion FCFA, the State finally mobilized 450 billion FCFA, i.e. a coverage rate of 150%. The Ministry of Finance and Budget points out that this operation is distinguished by the active involvement of the Senegalese diaspora settled in more than 45 countries, alongside investors residents and subregions.

A stabilization tool macroeconomic

In the short term, diaspora bonds offer the State of Senegal a source of rapid financing, in hard currency. They thus contribute to alleviating the pressure on public debt, to stabilizing the budget deficit and to limit the use of financial markets international, often more expensive.

The government is also banking on the patriotic dimension of these loans. By accepting a slight remuneration lower than market rates, the diaspora participates directly in development of the country. The inflow of foreign currency also reinforces the reserves of the BCEAO, a key indicator of macroeconomic stability in UEMOA.

Finally, these instruments promote establishment of a stable and loyal investor base, less sensitive to market fluctuations. A dynamic that could, in the long run, encourage greater rigor and transparency in the management of public funds.