ELIGIBILITY CRITERIA
- To be a natural or legal person involved in the tourism or hotel sector in Senegal
- To be approved as a hotel or tourist enterprise by the Minister in charge of Tourism and to have in addition an authorization of opening to exploitation for the existing hotel enterprises
- Have provided a detailed business plan highlighting:
– the creation of at least five (5) jobs;- a turnover of at least five (5) million CFA francs per year;
- a rate of return of at least 10%.
- A bonus will be granted to companies located in areas considered as priorities for tourism development as well as for those who regularly provide statistical information to the Ministry in charge of tourism.
INFORMATION ON FINANCING CONDITIONS BUSINESS PLAN
- Credit limit: 100 million
- Interest rate: 3.5% including tax
- Credit period: maximum of 5 years
- Deferred: maximum 18 months
- The financing is granted through the BNDE bank
- Type of financing: medium-term credit for investment and working capital, for project creation and extension.
REQUIRED DOCUMENTS (physical and electronic version)
Executive summary of the project
Description of the project
Background and rationale;
Project objectives;
Presentation of the promoter (and collaborators, associates and partners);
Presentation of the company (date of creation, legal form, achievements, references…) ;
Financing requirement (with details of investment and FoR) ;
Financing plan (Equity & Bank loan vs Investment and FdR) ;
Proposed safeguards;
Progress of the project (physical achievements, steps taken, authorizations obtained, agreements signed).
Technical study of the project
Product features
Presentation of the area (physical, demographic, socio-economic data)
Facilities and installations
Equipment and operating materials
Raw material supplies
Production process
Key team and manpower
Timetable for the realization of the project.
Market research
General market trends and outlook
The request
The offer
The prices
Distribution channels
Competitive positioning
Marketing strategy.
Financial study
Table of investments and renewals
Investment depreciation schedule
Assumptions for revenue generation
Financial flow table (revenues/expenses)
Forecasted operating account
Cash flow statement
Profitability indicators (CAF, NPV, IRR, SR, IP, DRCI)
ADMINISTRATIVE DOCUMENTS
A request for funding addressed to the Minister in charge of tourism with all contacts (full address, telephone and e-mail contacts);
Statutes of the company (GIE, GPF, Cooperative, SUARL, SARL, SA…) ;
RCCM excerpt;
NINEA Extract;
Notarized declaration of subscription and payment of capital (for SA) ;
Extract from the legal notice newspaper (if applicable) ;
Copy of the principal promoter’s NIC ;
CV of the main sponsor and/or key project team;
Copy of diploma(s) or supporting documents, if applicable ;
Financial Statements :
certified for SAs ;
For the SARL with a turnover of more than 50 million FCFA if necessary by a Center of Agreed Management (CGA);
Pro forma estimates/invoices for construction work and/or equipment to be acquired;
Collateral (real estate or insurance, list of equipment, …) ;
Bank statement ;
Approvals, authorizations or agreements obtained ;
Proof of investments already made for existing companies;
Employee employment contracts for existing businesses;
Social security certificate for existing businesses;
Staff list for jobs to be created.
Other flagship projects:
Integrated Tourism Zones Project