Senegal on the verge of fuel crisis as govt owes 375b CFA

 L’Observateur, a daily Senegalese independent newspaper reports the “red alert for oil tankers” due to the State’s debt of 375 billion CFA francs, risking creating a “sector shutdown” and therefore a “shortage” of hydrocarbons.

President Jacob Zuma and President Macky Sall attending the South Africa-Senegal Business Forum held today, 24 October 2017, at the Cape Town International Convention Centre following the Senegal State Visit to South Africa in Cape Town. South Africa and Senegal enjoy cordial bilateral political, economic and social relations underpinned by strong historical ties dating back to the years of the liberation struggle. 24/10/2017 PHOTO: Kopano Tlape GCIS

“In a particularly tense global context, oil companies in Senegal have to deal with a debt of 375 billion CFA francs owed to them by the State. A debt which, if it is not settled, risks plunging the country into a lack of supply of petroleum products,” warns the newspaper.

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