Senegal Annual Monitor 2016

The digital financial services market in Senegal is evolving on several fronts. Besides traditional financial service providers, the market has also seen the rise of numerous fintechs in sectors such as payment aggregation, goods vouchers, crowdfunding, mAgri and mHealth, to name a few. Yet, key regulatory challenges remain, such as the absence of an agency banking framework for microfinance institutions, fair and equitable access for non-mobile network operators to the unstructured supplementary service data (USSD) channel, and guidelines on digital credit within a capped interest rate environment.