Think and act for entrepreneurship in Africa

Senegal

FinTech for Africa’s SMEs – An interview with Omar Cissé of InTouch Group

A report from the Central Bank of West African States shows that the bank account penetration rate in Sub-Saharan Africa increased from  19% to 21.8% between 2020 and 2021. This…

A report from the Central Bank of West African States shows that the bank account penetration rate in Sub-Saharan Africa increased from  19% to 21.8% between 2020 and 2021. This has been a steady and sustained trend over the last ten years, but it still places the countries of the UEMOA zone among those with the lowest bank account coverage in the world.  

This low rate deprives a large part of the population of basic financial services and limits their participation in the formal economy. Today, this lag is largely offset by the massive adoption of new financial technologies (FinTech) on the continent, notably mobile banking, even more so since the Covid period.

On the same subject : African SMEs have potential to be at the forefront of tomorrow’s digital world

Entreprenante Afrique talked to Omar Cissé, founder of InTouch, a pan-African fintech launched in 2014 offering a pan-African, tailor-made digital solution for secure payment management, providing users with a single platform for administering almost all payment methods present in the countries where InTouch is deployed. 

Omar Cissé shares his thoughts on the trajectory of InTouch since its creation, the factors behind its success, and what FinTech brings to the African economic landscape and to entrepreneurs in particular.

Entreprenante Afrique : In less than ten years, InTouch has made its mark on the African FinTech landscape. Is InTouch today a unicorn?

Omar Cissé Omar Cissé : We hope to be by 2027. Since 2022, we have maintained positive EBITDA, marking a significant milestone towards profitability. We are intensifying our efforts to expand our business further.

189 million transactions, amounting to a total transaction volume of €2,730 million.

The initial version of InTouch was launched in 2015, and by 2017, we had facilitated approximately 5 million transactions. However, the pivotal moment came with the onset of the Covid-19 crisis. When sanitary measures were implemented, businesses of all sizes sought to transition to digital payment methods. Since then, this trend has only gained momentum. In 2024, we processed 189 million transactions, amounting to a total transaction volume of €2,730 million.

Now, InTouch operates in 16 countries, with plans to expand to 25 by 2025. We accommodate nearly 300 different payment methods and operate through 48,000 TouchPoints across our operational countries.

 

Entreprenante Afrique : How do you explain this rapid growth?

In addition to external factors such as Covid and technological development, the human factor stands out as a pivotal factor. What began with a team of four in 2015 has now expanded to include 400 professionals, encompassing developers, sales representatives, and a diverse array of roles. These team members are distributed across the regions where InTouch operates, organized into hubs – such as Côte d’Ivoire for West Africa, Kenya for East Africa, Cameroon for Central Africa, and Egypt for North Africa. This approach enables us to deliver customized services and foster closer relationships with our clients.

The second factor contributing to our success is our shareholders and strategic partners, including the TotalEnergies group, CFAO, and Worldline, who have played a pivotal role in our advancement through technology transfer.

a solution for efficiently managing a large volume of small transactions across various channels, all within a unified platform.

The third factor is our access to financial resources. Since our inception, we have raised between 7 to 9 million euros every two years. The fintech sector is one of the most attractive investment segments within the African technology landscape. 

The final key factor driving our growth is the trust we have established with our customers and investors since the inception of InTouch.

What sets InTouch apart is our ability to provide customers at any stage of development—whether start-ups, SMEs, or large corporations—with a solution for efficiently managing a large volume of small transactions across various channels, all within a unified platform. This simplifies the monitoring and reporting of financial operations.

 

Entreprenante Afrique : To what extent is FinTech, and InTouch Group in particular, changing the African economic landscape? Are you in competition with the traditional financial sector ? 

Omar Cissé :

We do not view ourselves as competitors to banks or microfinance institutions. Instead, we position ourselves as technical partners, digitizing financial relationships. InTouch addresses the gap left by the slow adoption of banking services, such as providing small traders access to nano-credits at very affordable rates through a dedicated platform. While still a pilot project, our partnerships with microfinance institutions enable these operations, as InTouch is not a financial institution in the traditional sense. 

the rise of FinTech carries in its wake the promise of financial inclusion for the greatest number

Small companies have been our primary focus since inception. Our customer base includes 16,000 small traders in Senegal and 34,000 across our portfolio. Prior to InTouch, my experience with companies through CTIC Dakar and Teranga Capital revealed that payment management is a significant challenge for entrepreneurs, especially in Africa. Offering these companies the ability to accept various payment methods is truly transformative. It encompasses secure payment handling, precise invoicing, and a tracking system that boosts productivity. This leads to clearer financial insights and analysis for entrepreneurs. 

In broader terms, the rise of FinTech carries in its wake the promise of financial inclusion for the greatest number, the democratization of basic financial services: banking services, payment systems, credit, savings, insurance, etc.

 


 

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Are universities in Africa excluding women?

Abidjan, early 60’s, the young Dicoh Mariam Konan starts studying chemistry at the Technical High School. She soon became the first female chemist in the Ivory Coast. Her portrait on…

Abidjan, early 60’s, the young Dicoh Mariam Konan starts studying chemistry at the Technical High School. She soon became the first female chemist in the Ivory Coast. Her portrait on the 25fcfa coins, still in circulation today, illustrates the impact of her career. It symbolizes a West Africa in progress, with educated women, while the period of independence is in full swing. 60 years later, this progress is slowing down, only 8% of Ivorian women continue secondary studies. A figure that applies to the rest of the countries of sub-Saharan Africa. How to explain this situation?

Over the years, sub-Saharan women have found many socio-economic barriers to pursuing higher education. These include gender stereotypes and women’s place in society, a clear preference for boys’ education over girls, and poverty. Indeed, the cost of higher education generally falls more heavily on poor households than on rich ones.

Yet, studies show that women play a key role in the continent’s economy. According to UNESCO, the impact of girls’ education on national economic growth is undeniable: a one percentage point increase in girls’ education increases the average gross domestic product (GDP) by 0.3 percentage points and increases the annual growth rate of GDP by 0.2 percentage points.

These figures raise many questions:

  • What mechanisms need to be put in place to ensure sustainable access to higher education for girls?
  • How can we influence deep-rooted societal practices?

A look at 3 mechanisms set up by I&P Education and Employment, aimed at increasing the number of young girls enrolled in higher education institutions to enable them to find their place in the job market.

Overcoming the socio-economic barrier

At ISM Ziguinchor, 11:00 a.m., Elise, originally from the Sédhiou region of Senegal, is taking a management course. After having interrupted her schooling due to pregnancy, she received a scholarship for excellence from ISM Ziguinchor. The first institution of higher education in the capital of Casamance, the establishment is a fine example of parity, in fact, girls represent 55% of the staff.

The policy is clear: “When awarding scholarships, 60% of girls and 40% of boys. For equal competence, the choice is made for girls,” says Georges Bernard Ndèye, director of the school. When asked why girls, the answer is simple: “The desire to get girls out of their vulnerable situation.

Higher education has an additional cost for families living in rural areas or without a university who have to go to capital or secondary cities. For families this means additional costs such as transportation, accommodation, and food[2]. In Ghana, for example, among the poorest households, sending a young person to a higher education institution increases their non-food expenses by 37%[3], an unthinkable sacrifice for many.

Sending a student to college increases a poor household’s non-food expenditures by 37 percent in Ghana

Students and their families analyze the benefits of higher education versus the income if the young person worked right after high school. For Priska Manga, a doctor at Cheikh Anta Diop University, the first obstacle for girls is the family. Social norms (role of men and women in the family, marriage, maternity, etc.) also play a role. A Wolof proverb says “Diangou Djiguène amoul ndieurigne”, a woman’s studies are of no use. Investing in the higher education of young girls can be seen as a waste of time and investment for the most vulnerable families.

Parental education is a critical factor in decision making. When the head of the household has completed secondary school, children are 10 times more likely to pursue higher education than a child in a household with a lower educational level of the head. Thus, convincing vulnerable families of the importance of higher education for girls is necessary. But it is essential to couple this societal change with financial support mechanisms. The granting of a scholarship may be a condition for a young girl from a disadvantaged background to pursue higher education.

Local and adapted infrastructures

In 2016, ISM Ziguinchor, wishing to respond to the accommodation problems of its students, decided to create a branch in Kolda, a city located 500km from Dakar. At the beginning of the school year, the administration realized that the majority of the students were married girls, whose families did not want them to move away for their studies. Families want to keep their daughters within a family circle, to protect them, but also to avoid any incidents that would damage their reputations (unwanted pregnancies, etc.). Bringing the institution closer to female students in rural areas increases their access to quality higher education when social norms prevent them from going to the city alone. For student mothers, the provision of childcare facilities at the place of learning helps them stay in school. To help female learners focus on their education, UNICEF has set up a daycare system as part of the “Girl Power” project in Côte d’Ivoire. The project aims to strengthen the entrepreneurial skills of young girls in the suburbs[4].

  • Dormitories: when school becomes home

Families also use tutoring systems. The student (girl or boy) is placed under the authority of a tutor, usually a family acquaintance. When necessary, or when there are difficulties within the host family, the girls drop out of school. Another solution is to make the school the place to live. The construction of dormitories in schools allows families to find a reliable solution to the issue of distance from the place of learning. This solution is being tested in ESSECT Poincaré schools. Located in the city of Bouaké in Côte d’Ivoire, the school welcomes students from all over the region – mainly agricultural – and beyond.

  • The importance of decent and adequate health facilities

In addition to having a decent toilet, it is also a question of equipment adapted to female physiology and available in the sanitary facilities.

Once they enter the school, students spend a large part of their day there. In addition to the availability of facilities, it is important that they feel comfortable. Both private and public, restrooms are places that must meet the requirements of safety, hygiene and privacy[5]. Since joining the IP2E program, Mr. Ndèye considers that decent sanitary facilities are fundamental for the development of young girls. During their menstruation, girls need to have access to toilets with water, soap and garbage garbage cans where they can dispose of their sanitary protection[6]. The availability of these pads is also necessary. In addition to having decent toilets, it is also a matter of having appropriate facilities available in these spaces. When interviewed, girls express an interest in separate toilets. They often emphasize the criteria of hygiene and the desire for privacy and safety.

  • Ensure the protection and well-being of students

Providing a safe learning environment goes beyond infrastructure. Gender-based and sexual violence affects girls more than boys. It is present during higher education, but goes unreported. It can include harassment between students, harassment between professors and students, and the exchange of good grades or job offers for sexual favors. Within the IP2E program, all supported companies develop a “student safeguarding” policy. This policy aims to prevent and respond to different types of incidents (sexual violence, physical safety, etc.) and to increase awareness of these issues among students and staff. Institutions are developing mechanisms for reporting and handling complaints. These mechanisms help build trust and improve the learning experience of young girls.

Inspiring Role Models

At the Institut Ivoirien de Technologie (IIT), along with business and computer courses, students receive leadership and personal development courses. Prisca and Grâce, two second-year students, explain that these courses help “to know oneself, to find one’s strengths to overcome one’s weaknesses. They often discuss the girls’ development with their male classmates. For Grace, one of the reasons for not pursuing higher education is the lack of self-confidence in girls. This lack of confidence stems from the “low esteem” that those around them place on the education of young women.

Gender stereotypes are also found in the orientation. The so-called promising fields, such as science, are often assigned to boys. Fabricia Devignes, a gender expert at UNESCO’s International Institute for Educational Planning, explains that “the representation of women has an impact on girls’ education and learning outcomes.

In the companies of the I&P Education and Employment program, one institution makes the difference in the sciences: the USSD (Université des Sciences de la Santé de Dakar ). The Board of Directors of the USSD is chaired by a woman. In the university, 60% of the students are young women. When questioned, the female students explain that most of them come from families where their parents are already working in the health sector. To strengthen the resolve of these future doctors, USSD is also implementing a women’s leadership program. These are mentoring sessions during which women in the health sector will lead exchange sessions with the students. For Professor Ndir, it is by taking the example of female role models that there will be women leaders in the field.

Changing mindsets

In Tamale, northern Ghana, educational company Openlabs is bringing role models into the local community to change attitudes. To train girls in computer skills, Prince Charles, campus manager, and his team conduct outreach to girls as young as primary school, families, women’s groups, and religious leaders. To facilitate the exchange, some team members come from the targeted communities. Zeinab, a student from the Choggu community, spoke. She explains that it is possible to be a young woman, belong to the community and pursue higher education. Prince Charles went on to explain the financial benefits that the education of young women will have on these communities. He also explains the scholarships and discounts that Openlabs offers to young women.

In recent years, the historical gap in access to secondary education between girls and boys on the African continent has narrowed considerably and is now being reversed thanks to government efforts (in Senegal, in 2021: 52% of girls versus 48% of boys). This quasi-parity has highlighted a non-generic inequality, but rather a strong disparity according to the social and geographical origin of future students, and partly explains the low rate of continuation of higher education. Although few girls and boys pursue higher education in sub-Saharan Africa, girls from disadvantaged or rural backgrounds are at the bottom of the pyramid in terms of access to university.

Guaranteeing sustainable access to education for vulnerable girls requires providing mechanisms for financing higher education. For girls in rural areas, the multiplication of community-based higher education offers is also a lever to be implemented. The institutions must be safe places, where the well-being, safety and health of the students will be preserved. Finally, it is necessary to change mentalities, especially regarding the place of girls in scientific fields, in order to ensure that women fully participate in the development of the continent.

“The emancipation of women goes through education. If we manage to have more educated women, we will have women leaders everywhere.”

According to Dr. Priska Manga, “The emancipation of women is through education. If we can have more educated women, we will have women leaders everywhere. Disadvantaged girls need continued access to quality education in order to become self-sufficient and active in the development of their region[8]. Quality higher education develops and strengthens the skills needed to enter a highly competitive labor market, and enables them to claim a decent, adequate and equal income to improve their quality of life.


[1] https://www.globalpartnership.org/fr/blog/leducation-des-filles-releve-du-bon-sens-economique

[2] Darvas, Peter, Shang Gao, Yijun Shen et Bilal Bawany. 2017. Enseignement supérieur et équité en Afrique subsaharienne : Élargir l’opportunité au-delà de l’élite. Directions du développement. Washington, DC : Banque mondiale. doi:10.1596/978-1-4648-1266-8.

[3]Darvas & all

[4] UNICEF. Projet Girl Power. 2020. https://team.unicef.fr/projects/unicef-projet-girl-power

[5] Marion Simon-Rainaud. 2021. Mélanger les filles et les garçons a facilité l’accès aux toilettes », 7 mars 2021 ? https://usbeketrica.com/fr/melanger-les-filles-et-les-garcons-a-facilite-l-acces-aux-toilettes

[6] GPE. 2018. Comment les toilettes peuvent-elles contribuer à promouvoir l’éducation.

[7] BBC News Africa. 2019. ‘Sex for geades’: Undercover in West African universities. https://www.bbc.com/news/av/world-africa-49907376

[8] C. Manse. 2020. Education des filles, émancipation des femmes. https://www.entreprenanteafrique.com/education-des-filles-emancipation-des-femmes/

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Entrepreneurship in Senegal: More cheetahs than gazelles

Promoting employment is one of the priorities of the African continent for the coming years. According to the African Development Bank, only 3 million formal jobs are created each year…

Promoting employment is one of the priorities of the African continent for the coming years. According to the African Development Bank, only 3 million formal jobs are created each year in Africa, while 10 to 12 million young people enter the job market.

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Voices of African women entrepreneurs (2/2): Sylvie Sagbo and Sokhna Ndiaye

On this International Women’s Rights Day, let’s continue our exploration of inspiring women’s entrepreneurial paths. In this second part, we interviewed two Senegalese women entrepreneurs: Sylvie Sagbo, who, after several…

On this International Women’s Rights Day, let’s continue our exploration of inspiring women’s entrepreneurial paths. In this second part, we interviewed two Senegalese women entrepreneurs: Sylvie Sagbo, who, after several international experiences, took over the Senegalese company founded by her mother, and Sokhna Ndiaye, involved in several associations and companies operating in the health sector.

 

Sylvie Sagbo

 

Since 2015, Sylvie Sagbo has been managing SENAR Les Délices de Lysa, a Senegalese SME that processes peanuts and cashews. Since 2015, Sylvie Sagbo has been managing SENAR Les Délices de Lysa, a Senegalese SME that processes peanuts and cashews. She holds a master’s degree in finance and market management from the Ecole de Gestion de Paris, and worked for 18 years in market finance (asset management, portfolio management in banks, etc.). She then opened a restaurant of African cuisine in the Paris area. She finally returned to Dakar to join the company founded by my mother in 1982, at a time when she wanted to gradually withdraw from the company.

 

Why did you decide to become an entrepreneur?

I think I have always had this entrepreneurial spirit, and it shows through my career: when I was working as a self-employed consultant, when I started the African cuisine restaurant with my husband, and of course when I took over SENAR, the company founded by my mother. I grew up with this company, and I have always been involved in it, even though I was far away. So it was a logical step to take over the structure, and it was very motivating because I knew that we could make it a very successful company.

Have you experienced any difficulties because you are a woman?

It is possible that my funding application was refused in the past because I am a woman, but this has never been made clear to me. I have worked with two sales managers who have never accepted that I tell them what to do and I think this is was related to the fact I’m a woman.

How do you see yourself in ten years?

In ten years’ time I see myself at the head of a large Senegalese African company, a leader in the distribution of cashews in Africa and throughout the world. I think we are on the right track because we produce high- quality and healthy products. Recently we created a created a spread called Cajoutella, which has nothing to envy to its distant neighbour (laughs)!  And I have many other ideas for my company!

An advice to (future) women entrepreneurs?

You have to fight. An entrepreneur must fight in any case, but a woman entrepreneur will have to fight twice as hard because as a woman she has to manage many things at the same. When you want to start a business, you shouldn’t start just like that with an idea: you have to perfect your idea, conduct a market study, even a minimal one, to develop your business model. Why do I want to do it? Who am I targeting? What turnover do I hope to achieve? This thorough analysis is really necessary. Once it’s done, you will have to run your business with your guts, to be truly passionate about it! There is no reason, in these conditions, that a woman could not succeed. But it takes a lot of courage. It’s not a simple life, there are many ups and downs, especially in Africa. There are many women entrepreneurs today, and tomorrow there will be many more… New and inspiring role models will emerge!

 

Sokhna Diagne Ndiaye

 

Who are you?

I am Sokhna Ndiaye, I own a pharmacy in Dakar and I’m the Chairman of the Board of Directors for the company Duopharm. Duopharm has partnered with Investisseurs & Partenaires between 2010 and 2017, and it went really well. I also chair the board of directors of the University of Health Sciences, which trains pharmacists, doctors and dentists in Senegal. I am also a member of several foundations: Vice-President of the Senegalese League against Cancer, President of the Graduates Commission of the Cheick Antia Diop University Foundation, representative in Senegal of the Monaco Humanitarian Collective where I represent the Monegasque Red Cross and the Association Rencontres Africaines. In parallel I have a few social activities in the education sector…

How do you manage to balance your personal life with this very busy professional life?

Very good question! I guess it’s just a matter of organization. There are 25 employees in my pharmacy. It’s no easy task to manage, but we put in place a well-organized system.  Everyone one of them has specific tasks and missions to attend to. As for Duopharm, I am deeply involved but I don’t run the business myself, which allows me to have more time to dedicate myself to other social activities that are extremely important to me.

To be a woman, is that an asset or an obstacle in the professional environment?

Regarding my activities on social issues, notably my experience with the Senegalese League Against Cancer, I would say that being a woman gives a little more sensitivity. In Senegal, women play an important role. There have been significant advances.  Women in Senegal have practically taken over the social sector and I think that being a woman is an advantage in coordinating these activities and movements.

An advice to (future) women entrepreneurs?

Women should have more confidence in themselves and their capacities. In Africa, women could play a greater economic role, they are not second-zone citizens! I think it is up to women to keep fighting, to show that every time they are given a task, what they are able to do it and do it well. I think the results are visible on a global scale: every time a woman is entrusted with management in specific areas, the results, the performance are better than those of men. There is no reason to be afraid of being a woman. A woman must assert herself, fight, work and give more results than men.

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La Laiterie du Berger, the trajectory of a social enterprise in Senegal

Jérémy Hajdenberg reviews the history of the Senegalese company La Laiterie du Berger and its founder Bagoré-Xavier Bathily. Valuing local dairy production, the main objective pursued by La Laiterie du…

Jérémy Hajdenberg reviews the history of the Senegalese company La Laiterie du Berger and its founder Bagoré-Xavier Bathily. Valuing local dairy production, the main objective pursued by La Laiterie du Berger, has proved to be a difficult choice in the Senegalese context, but the company has been able to adapt and evolve, to become a major reference on certain agro-industrial issues in Senegal.

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