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Senegal

No Open Banking

The westernmost country in Africa.

Senegalā€™sĀ internet penetration rateĀ stood at 46% of the total population by 2022.Ā Mobile connections in Senegal were equivalent to 116% of the total population in January 2022.

InteroperabilityĀ is encouraged in Senegal by promoting the development, awareness and usage of systems that facilitate universal access to digital payment infrastructure and digital identity and regulation of data and privacy (p. 2).

56% of adults in SenegalĀ had bank accounts in 2021, leaving 44% unbanked. The UN Capital Development Fund (UNCDF)Ā notedĀ Senegal’s digital financial inclusion rate increased from 13 to 29% from 2015 to 2019. In 2020 the Agricultural Bank of Senegal introduced a digital platform calledĀ AgricashĀ to send money and make bill payments. In 2019 the World Food ProgrammeĀ digitised social cash transfersĀ for vulnerable populations in northeastern Senegal.

Senegal is served by the Central Bank of West African States (CBWAS), with other nations sharing the West African CFA currency. CBWAS has adopted a regional financial inclusion strategy, yet its measurement is stillĀ under discussion.Ā 

Senegal ranked 102nd out of 134 countries inĀ Wiley’s Digital Skills Global Index 2021.Ā