Senegal (Compact with Africa Country)
Short-term Business / APG Cover Policy
There are no formal restrictions on cover.
Cover facilities are available on a case-by-case basis. In addition, cover is available for project finance and structured finance deals, where necessary based on countertrade transactions.
Transactions with public buyers are governed by the OECD's sustainable lending principles.
For transactions with private buyers bank security is required if the foreign buyer's creditworthiness is inadequate.
For medium/long-term transactions with public buyers a guarantee from the Ministry of Finance or the central bank is required. For medium/long-term transactions with public buyers which are established as private sector organizations the same collateral requirements as for private buyers apply.
The assessment of a bank for acceptance as a guarantor or borrower is carried out case by case on the basis of informative documents and taking into account the risk involved.
Country information on commercial practices, business climate, market analyses, law, import procedures, customs duties can be found on the website of Germany Trade & Invest (gtai, https://www.gtai.de).
The most important GTAI country information on Africa can be found at a glance on the Africa Business Guide (German version, www.africa-business-guide.de).
You can find more detailed information on the G20 initiative „Compact with Africa“ (www.compactwithafrica.org).