Senegal’s President Declares Assets, Liabilities

April 3, 2024

2.9 min readCategories: International


*Group Asks African Leaders to follow his footstep

By Miracle Ogunde

The newly sworn in President of Senegal, Bassirou Diomaye Faye, has made an open declaration of his assets and liabilities.

This was revealed to the public in a publication titled ‘Heritage Declaration of the Candidate Bassirou Diomaye Diakhar Faye’.

The publication, posted on his Facebook page, contained all his assets and liabilities since October 2007.

Faye said he owned only one house built on 200 m2 of land in Mermoz allocated by the tax union (a family home since 2021) and built from 2017 to 2021, partly with his own funds and partly with loans settled.

He also disclosed that he has two vehicles – a Focus 2012 acquired second-hand in 2019 worth 6,500,000 FCFA and a Ford Explorer Platinum acquired second-hand in 2022 worth 19,000,000 FCFA.

Faye also listed undeveloped plots of land among his assets, including a 80 m/40 plot acquired in 2017 worth 3,000,000 FCFA and a 4.3ha agricultural land acquired in 2022 worth 15,050,000 FCFA.

In the publication, Faye added that he has money in two bank accounts as of March 19, 2024. One of the accounts has 3,276,046 FCFA, while the other has a total sum of 786,782 FCFA.

Faye, in the document, went further to declare his liabilities, which include a 30,000,000 FCFA loan taken on September 5, 2022, an 8,000,000 FCFA payroll loan taken on August 22, 2022, and a 10,000,000 FCFA loan from a friend.

Reacting to the move, a civil society organization, The Resource Centre for Human Rights and Civic Education, CHRICED, has asked african leaders to emulate the new Senegalese President, Bassirou Diomaye Faye by declaring their assets publicly.

CHRICED, in a statement released on Tuesday to mark Faye’s inauguration as President by its Executive Director, Comrade Ibrahim Zikirullahi, commended Faye for publicly declaring his assets.

CHRICED also noted that Faye’s action should be emulated by other African leaders, as it underscores a commitment to transparency and accountability.

“CHRICED is pleased to see President Faye’s commendable start in publicly declaring his assets. This is a crucial step that demonstrates his commitment to the welfare of the people.

“Transparency and accountability are fundamental principles of effective governance, and any government official, whether elected or appointed, who chooses not to disclose their assets publicly raises suspicions about their intentions.

“It is important for leaders to lead by example and show that they have nothing to hide. By openly declaring his assets, President Faye is setting a positive precedent for other government officials to follow.

“This move not only builds trust with the public but also helps to prevent corruption and unethical behavior.

“Transparency in asset declaration can help to prevent conflicts of interest and ensure that government officials are acting in the best interests of the people they serve. It also allows for greater scrutiny and oversight, which is essential for holding leaders accountable for their actions.

“We commend President Faye of Senegal for his commitment to transparency and accountability, and we hope that other ECOWAS leaders will follow his example in order to promote good governance and uphold the trust of the people,” CHRICED said.

Faye, 44, won the March 24, 2024 presidential election in Senegal to become the youngest democratically elected President in West Africa.

As candidate of the opposition African Patriots of Senegal for Work, Ethics and Fraternity, PASTEF, Faye scored 54.3 per cent of the votes to defeat other contestants, including his main rival from the governing coalition, Amadou Ba, a former prime minister.

He was sworn in yesterday as the fifth and youngest president in the country.

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About the Author: Yetunde Ogunmola

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