Fonds gelés par Banco Santander : L’ASER envisage de suspendre ses chantiers pour éviter un contentieux
Uncertainty surrounding the financing of a major rural electrification project could lead to the suspension of work. In a letter addressed to the Minister of Finance and Budget, Cheikh Diba, the Director General of the Senegalese Rural Electrification Agency (ASER), Jean-Michel Sène, warns of the risks associated with the cessation of disbursements by Banco Santander, the project's financial partner.
In his letter, the head of ASER points out that several obstacles that had slowed the execution of contract No. T0296/24-DK have been removed following the Supreme Court's decision to overturn a suspension order previously issued by ARCOP. Since then, the agency has taken numerous steps to ensure the project's smooth resumption.
Among the actions undertaken was the completion of a pilot electrification phase, a prerequisite to the actual implementation in the 1,740 planned localities. The agency also conducted site visits, studies, and prepared implementation plans for over 300 localities as part of Phase 2. Furthermore, it submitted the technical specifications of the supplies required for the full implementation of the project to Senelec, which approved all the equipment, including cables, fittings, insulators, concrete supports, MV/LV transformers, switches, surge arresters, HDP circuit breakers, brackets, lighting fixtures, and their accessories.
ASER indicates that it has also finalized the environmental and social studies, which led to obtaining the environmental clearance on April 3, 2026. In parallel, joint missions were organized with Senelec in China and Spain to various international manufacturers, such as METALSEC or INAEL, in order to carry out the tests and acceptance of the equipment intended for the project.
Jean-Michel Sène also implemented measures to secure the project, notably by contacting the DCMP (Directorate of Public Procurement), AEE POWER EPC, and SONAC (National Oil Company of Cameroon), respectively, to ascertain the legality of the advance payments, the status of their use, and the validity of the guarantees provided prior to their disbursement. He further mentioned the DCMP's definition and subsequent validation of the mechanism for the gradual repayment of the advances granted under the contract.
Despite these advances, Jean-Michel Sène believes that significant uncertainty remains regarding the actual availability of funding. According to him, ASER has not yet received any information guaranteeing the continuation of disbursements from Banco Santander. The Director General emphasizes that the suspension of funding was unilateral and that no legal or contractual justification has been officially provided to ASER or the State of Senegal. He maintains that the Ministry of Finance remains the most appropriate institutional partner to obtain clarifications from the bank and ensure compliance with contractual commitments made to the State.
Faced with this situation, ASER fears that continuing the work will lead to the issuance of new invoices by the company holding the contract, even though the guarantees regarding financing remain uncertain. According to the agency, such a situation could expose the State of Senegal to difficulties in meeting its contractual obligations. To avoid any risk of litigation or default on payment, ASER is therefore considering suspending the execution of services and work related to contract No. T0296/24-DK pending definitive clarification on the continuation of financing.
The agency is finally requesting the intervention of the Minister of Finance in order to quickly obtain answers from Banco Santander and to allow a secure and sustainable resumption of this strategic project intended to strengthen access to electricity in rural areas of Senegal.
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