On Monday, Senegal’s ambitions to become a startup hub in Africa faced a setback when Raki Kane, the Executive Secretary of the Commission for the Evaluation, Support, and Coordination of Startups (CEAC), resigned.
Her decision was influenced by political pressures stemming from her previous statements against opposition leader Ousmane Sonko.
Kane stated, “I have made the conscious and responsible decision to step down from this role” to protect the CEAC’s integrity and the government’s reputation.
Read also: Dakar’s electric BRT network marks a milestone for Sub-Saharan Africa
Background of the Startup Act
Senegal’s innovation and entrepreneurship are greatly aided by the CEAC, which was founded in 2023 under the Startup Act.
The Startup Act, ratified in 2021 by President Macky Sall, aims to stimulate economic growth through technology-driven startups.
It offers benefits like tax exemptions and funding opportunities to eligible startups, which must be registered for no more than eight years and have significant growth potential.
The CEAC oversees startup registration and labelling processes and coordinates national strategies to enhance creativity and competitiveness.
However, Kane’s resignation raises concerns about the Commission’s ability to sustain momentum in these initiatives. Critics argue that political controversies detract from the urgent need to support startups amid increasing competition from other African nations.
Read also: Morocco’s UM6P Ventures launches startup residency
Implications for Senegal’s startup ecosystem
Kane’s departure highlights the fragile nature of Senegal’s startup ecosystem. The political backlash she faced underscores the challenge of maintaining a clear separation between politics and economic development.
As she noted in her resignation letter, her past political positions had overshadowed her leadership role, prompting her to resign.
Despite these challenges, Senegal’s startup ecosystem has shown potential. If effectively implemented, the CEAC’s initiatives could attract investment and foster local innovation.
Startups labelled under the Startup Act benefit from financial stability through public and private funding and access to procurement opportunities.
Raki Kane’s resignation highlights the fragile balance between politics and economic development. As Senegal navigates these challenges, the focus should be on fostering a strong, inclusive ecosystem that empowers entrepreneurs and promotes sustainable growth.
Leave a Reply