SENEGAL could use part of the proceeds of a 775 million euro ($946 million) bond sale for a new fund created in response to protests that engulfed the West African nation earlier this year.
The fund of 450 billion CFA francs ($836 million) aims to address youth unemployment by supporting small- and micro-enterprises, and creating jobs, Amadou Sarr, the minister of a new portfolio to boost entrepreneurship, said in an interview Tuesday in Abidjan, Ivory Coast.
The government will set aside 150 billion CFA francs each year for the next three years, he said. While Sarr hopes some of the proceeds from the bond sale will go to the fund, the decision will be made by the country’s finance ministry, he said. The 16-year eurobond was issued at a yield of 5.375%, according to people familiar with the transaction.
“It was just after the crisis that President Macky Sall put
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