The agreement between AGCelerant, Bank of Africa-Senegal and SFI will help smallholder farmers and SMEs in the rice sector to more easily access the finance they need to develop. This partnership is supported by the Global Agriculture and Food Security Programme (GAFSP) Private Sector Window. As part of this, the SFI will invest $7.2 million in a risk-sharing mechanism.

The objective of this agreement is to allow Bank of Africa to finance thousands of smallholder farmers and small businesses specializing in rice production and thus help them access insurance, inputs and & equipment, including seeds, fertilizers, and harvesters It should be noted that despite an increase in production in recent years, Senegal still imports 60% of the rice it consumes.