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Saudi giant ACWA Power
One of the first companies to suffer was the Saudi giant ACWA Power. The company had signed a multi-billion CFA franc contract with the Senegalese government under the Macky Sall regime to build a desalination plant, but the agreement was canceled. The new authorities judged the contract “not in the national interest.” This decision means huge losses for Saudi Arabia, estimated at 459 billion CFA francs.
Eiffage Génie Civil Marine (France)
French operator Eiffage Génie Civil Marine has suffered another heavy blow. Following an investigation by the Directorate General of Taxation and Domains, the company received a tax adjustment notice for a preliminary amount of 17.637 billion CFA francs. This measure is part of a series of actions aimed at recovering taxes owed to the Senegalese state.
Suma and Limak (Türkiye)
Turkish companies Summa and Limak are also in trouble, with their assets seized by Senegalese tax authorities. The companies owe the Senegalese state nearly 24 billion CFA francs and cannot escape the recovery measures implemented by the new government.
Sending a clear message to foreign investors
These actions clearly demonstrate the desire of the Diomaye Sonko government to rectify Senegal’s fiscal situation and ensure that trade agreements and foreign investments strictly respect national interests. This zero-tolerance policy could redefine Senegal’s economic relations with foreign partners, with greater transparency and strict compliance with local regulations.
However, the practice is also likely to create tensions with the companies and countries involved and could deter future investors. The list of affected companies is likely to grow, suggesting that international economic operators in Senegal face uncertain times.
in conclusion
Diomaye Sonko’s zero-tolerance policy marks a decisive turning point in the management of economic affairs in Senegal. As the government seeks to protect national interests and strengthen tax collection, foreign businesses will need to navigate this new stringent environment with caution and diligence.
#Senegal #Fiscal #Election Dioma #ACWAPower #Eiffage #Sum #Finance
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