The Caisse Nationale de Crédit Agricole du Senegal (CNCAS) launched its business plan called “Synergie 2022” on Friday (April 6th). The 2018-2022 roadmap was unveiled on the sidelines of the institution’s 34th anniversary celebration.
The program launched in 2017 has the major objective of strengthening the financing of the establishment of agricultural value chains in the country so that they can generate more growth points.
Thus, the structure intends to diversify its banking offers (access to credit) to support agricultural projects including fishing and livestock, which can provide 50 to 60% additional added value.
On this occasion, the CNCAS general manager, Malick Ndiaye, indicated that the SYNERGIE 2022 transformation program aims to be the leading bank in the financing of agricultural value chains.
The director also unveiled his five-year funding plan. Thus, the CNCAS will bring its total balance sheet to 400 billion Fcfa by 2022, 1.5 times more than its current size.
The institution also wants to bring its Net Banking Product (GNP) to an amount greater than or equal to 25 billion FCFA over the same period, 1.7 times its current GNP. Return on equity (ROE) will be raised to a level above 10%.
Malick Ndiaye said that to succeed this bet, the institution will rely on the state, technical and financial partners and stakeholders to ensure a real structural transformation of the Senegalese economy where Agriculture weighs about 10% GDP.
In addition, the manager pointed out that for this the bank will meet 7 major challenges including, among others, the consolidation of the financial structure, the improvement of the operational efficiency, the reinforcement of the control of the risks, the commercial development and the customer relationship management.
Founded in 1984, CNCAS has 34 branches in the country. Its capital is held by the State and the Central Bank of West African States.
