Before members of parliament gathered in intercommittee meetings, the Minister of Finance and Budget, Cheikh Diba, defended draft law no. 08/2026 concerning leasing, presenting it as a strategic financing tool for Senegalese businesses. The text, adopted in committee, is currently being examined in plenary session this Thursday, May 21, 2026, at the National Assembly.

Indeed, the committee review report mentions that the minister first observed that the leasing market in Senegal remains very weak. According to him, "the sector's poor performance and its almost negligible contribution to financing the economy justify a thorough reform of the existing system." Cheikh Diba explained that "the current legal framework no longer sufficiently takes into account recent developments in leasing, particularly in the areas of real estate leasing, Islamic finance, and contract security. It is with this in mind that Senegal is now seeking to incorporate the uniform law adopted by the WAEMU since 2016." The minister particularly emphasized "the complementarity between leasing and factoring." According to him, the former supports business investments while the latter facilitates working capital financing.

Responding to the concerns of the members of parliament regarding the difficulties faced by SMEs, he highlighted the mechanisms already put in place by the State through FONGIP, ADEPME, and the Observatory for the Quality of Financial Services (OQSF). These organizations, he said, support businesses in financial management, anticipating cash flow problems, and facilitating amicable restructurings with creditors.

On the sensitive issue of the State's substitution for certain private companies with banks, the minister confirmed that this operation was undertaken to preserve the stability of the Senegalese banking system. According to him, the State had to avoid payment defaults that could weaken the entire financial sector. Cheikh Diba also mentioned the efforts made to settle outstanding payments owed to companies. He indicated that "500.9 billion CFA francs had already been allocated in an amended budget law to support the economy, particularly the construction, energy, and externally financed investment sectors."

Regarding the costs associated with formalizing real estate lease agreements before a notary, the minister considered these additional expenses to be limited in light of the legal security offered to businesses. He emphasized that leasing allows SMEs to access equipment without immediately committing significant financial guarantees.