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FONGIP-Crédit Mutuel du Sénégal: a tug-of-war over 1.5 billion CFA francs

Auteur: Senewebnews-RP

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FONGIP-Crédit mutuel du Sénégal : bras de fer autour de 1,5 milliard F CFA

FONGIP is demanding that Crédit Mutuel du Sénégal (CMS) return 1.5 billion CFA francs. This amount represents a guarantee of financing intended for young and female entrepreneurs, within the framework of the Xëyu ndaw yi program.

Libération, which broke the news, reports that FONGIP had made this guarantee available to CMS under an agreement signed on April 20, 2021. At the time, the daily newspaper points out, Thérèse Faye was in charge of the Fund.

"In that same agreement, the CMS committed to granting financing according to a clearly defined procedure," the newspaper recalls. "It was responsible for submitting a portfolio of loans to FONGIP for guarantee by sending, both physically and electronically, at least the following: a guarantee request addressed to the FONGIP's general administrator; a table of loan beneficiaries, each containing the information necessary for the review; and the minutes of the credit committee justifying the approval of the loans submitted for FONGIP guarantee."

FONGIP asserts that CMS failed to follow this procedure, thus breaching its obligations. This prompted FONGIP to take legal action and issue an unfavorable opinion regarding CMS's compensation claim.

Auteur: Senewebnews-RP
Publié le: Mardi 25 Novembre 2025

Commentaires (1)

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    Senegalais il y a 5 heures

    Des faussaires de l anciens régimes ,en complicité avec certains dirigeants véreux du CMS se sont servis de personnes vulnérables pour présenter des projets à financer .
    Dés que les fonds sont sortis,ils se sont partagé l argent.
    Des voleurs éhontés ,aussi bien au sein de l' ancien régime que parmi certains cadres dirigeants du CMS,tous au gnouffe.

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