Keypoints:
- Asset disclosure bill targets more officials
- Reporting threshold to be lowered
- President’s exemption draws criticism
SENEGAL’S President Bassirou Diomaye Faye has pledged to restore financial accountability after the discovery of billions in hidden debt under his predecessor — yet a new transparency measure leaves him untouched.
The government has tabled an amendment to the 2014 asset declaration law, broadening its reach to include more categories of public officials. If passed, the bill will compel public prosecutors, investigating judges, local authorities, auditors, and directors of state-owned companies to declare their assets both at the start and end of their terms.
Lower threshold for asset reporting
Until now, the law applied mainly to top-level officeholders such as the President of the National Assembly, the Prime Minister, ministers, and public accountants managing more than CFA1bn (€1.5million).
Under the proposed amendment, which the National Assembly is due to consider on August 18, 2025, the threshold for asset reporting by public budget managers would fall to CFA500 million (€760,000).
The government says the reform is aimed at tightening oversight and preventing the concealment of wealth by public officials.
Critics decry presidential exemption
However, the measure excludes the president from its requirements, sparking strong criticism from opposition figures.
‘It is the first condition of transparency that the President of the Republic is subject to these requirements,’ Doudou Wade of the Senegalese Democratic Party told French broadcaster RFI.
In response, Amadou Ba, a ruling party MP, defended the exemption, arguing that the Senegalese Constitution already obliges the president to declare assets only once, at the beginning of a term.
‘This goes beyond the hierarchy of norms and constitutes a special law of exception,’ Ba posted on Facebook.
Debt crisis fuels transparency push
The debate comes against a backdrop of financial turbulence. A public audit in February 2024 revealed that former President Macky Sall’s government had understated budget deficits, pushing Senegal’s end-2023 debt-to-GDP ratio to about 100 per cent, far above the previously reported 74 per cent.
The disclosure prompted the International Monetary Fund to freeze disbursements under its programme with Senegal and led credit ratings agency Standard & Poor’s to downgrade the country to B minus.
Since taking office, Faye has launched an aggressive anti-corruption campaign, resulting in the arrest of five former ministers.
Most recently, Amadou Mansour Faye — Sall’s brother-in-law and former Minister of Community Development — was charged with embezzling more than $4.6 millon in public funds.
While the proposed law aims to broaden financial disclosure requirements, opponents warn that excluding the head of state risks undermining the credibility of Faye’s anti-corruption agenda.
