A Senegalese opposition coalition led by firebrand politician Ousmane Sonko unveiled its campaign platform on Saturday, outlining a vision for economic independence that could significantly impact the West African region.
The coalition, backing Bassirou Diomaye Faye for president in the upcoming March 24th election, proposes a new national currency and the renegotiation of mining and energy contracts.
Faye, a strong contender among 19 candidates, aims to address economic inequalities and unemployment.
His 84-page platform emphasizes achieving “food, digital, fiscal, energy and scientific sovereignty” for Senegal.
This ambitious plan raises concerns for regional stability, particularly regarding the future of the CFA franc, the common currency for eight West African nations.
The coalition proposes significant changes to governance as well.
Their platform includes the creation of a vice-presidential role while eliminating the prime minister position. Additionally, plans for tax and customs reforms could impact foreign investors.
Faye’s platform offers few specifics on renegotiating contracts but emphasizes maximizing revenue from Senegal’s nascent oil production and leveraging the mining industry for national development.
This approach could clash with existing agreements and potentially deter foreign investment, especially if the country abandons the CFA franc.
With Senegal’s first major oil project set to begin production later this year, the outcome of the election holds significant weight for the country’s economic future and its role within the West African monetary zone.
