Entrepreneurial Ecosystem Diagnostic - Senegal

Analysing the entrepreneurial ecosystem in Senegal: a strong entrepreneurial spirit in a dual ecosystem

The report Entrepreneurial Spirit : Ecosystem Diagnostic Senegal 2023 provides an initial ecosystem analysis of contextualised challenges, gaps and opportunities within the Senegalese entrepreneurial ecosystem.   

The report provides a foundational understanding of the South African ecosystem’s unique context, including the existing strengths and weaknesses of the private sector, common business models among early-stage enterprises, and key entrepreneurial ecosystem dynamics that either hinder or support early-stage entrepreneurial activity, in particular youth- and female-led enterprises.  

The report aims to provide a foundational understanding of the Senegalese ecosystem’s unique context, including the existing strengths and weaknesses of the private sector, common business models among early-stage enterprises, and key entrepreneurial ecosystem dynamics that either hinder or support early-stage entrepreneurial activity, in particular youth- and female-led enterprises.

Navigating the complexity of the Senegalese ecosystem 

The Senegalese entrepreneurial ecosystem’s structure is caracterised by its complexity and a strong but rather informal entrepreneurial culture. The ecosystem is divided between a formal entrepreneurial ecosystem based on technology, and an informal ecosystem mostly based on subsistence agriculture, which represents most businesses, both having very different needs. Although business development services and fund availability are quite high, the offer is not always readable to businesses, which hampers their accessibility. In addition, infrastructure is not sufficiently developed, especially in terms of electricity access, which is crucial to the development of the ecosystem.  

This report analyses these strengths and challenges while identifying gaps and opportunities for targeted interventions. It provides an analytical framework that sheds light on nine different pillars - of entrepreneurial ecosystems, hampering or fostering the growth of pre-seed and seed-stage businesses.
In addition, the report offers strategic recommendations and actions to strengthen the entrepreneurial ecosystem, in terms of:  

1. Capacity building and networking.
2. Business environment.  
3. Entrepreneurial culture.  
4. Mapping and knowledge of the ecosystem.   

A shared resource for more coordinated support 

This diagnostic is a first step to better understand the entrepreneurial ecosystem and provides insights to any actor willing to support the Senegalese ecosystem, or playing a significant role in creating an environment favorable to innovation, the creation and growth of youth and women's businesses, whether they are business development providers, policymakers, investors, development partners, academics, media, etc.