Senegal’s Extractive Industries Boom: A 39% Revenue Surge in 2023

Senegal’s National Committee of the Initiative for Clarity in Extractive Industries (ITIE) released it’s 2023 annual report on December 30, 2024, revealing a remarkable increase in revenue from the extractive sector. The report, the 11th since Senegal joined the EITI in 2013, showcases a staggering 39% jump in revenue, totaling 380.03 billion CFA francs (approximately $580 million USD), compared to 275 billion CFA francs in 2022.

This notable increase,amounting to 102.67 billion CFA francs, is attributed to several factors. “Total revenues generated for the extractive sector increased substantially, from 275 billion in 2022, to 380.03 billion CFA francs (including social and environmental payments) in 2023,an increase of 102.67 billion CFA francs. Of this envelope,346.19 billion CFA francs went directly to the state budget,” stated Oulimata Sarr, president of the National Committee of the ITIE-Senegal.

Sarr,a former minister of Economy,Planning,and Cooperation,further detailed the growth,highlighting a 96.72 billion CFA franc increase in mining sector revenue (from 235.71 billion to 332.43 billion CFA francs) and a 5.95 billion CFA franc increase in the hydrocarbon sector (from 24.7 billion to 30.65 billion CFA francs). This growth contributed significantly to Senegal’s economy, boosting gross domestic product by 4.72% and state revenue by 9.40%.

The report also sheds light on the contributions of specific companies. Tax adjustments from Sabodala Gold operations and Cements du Sahel, along with increased corporate tax from several mining companies and dividends from the Chemical Industries of Senegal, all played a significant role in the overall revenue increase.Furthermore, 16 billion CFA francs were allocated to social and environmental payments.

This year’s report notably includes data on artisanal and small-scale mining, a significant step towards comprehensive transparency. “The National EITI Committee has taken the strategic option of providing data relating to artisanal and small-scale mining production, as required by the 2023 version of the EITI Standard,” Sarr explained. The report indicates that 0.145 tonnes of gold were produced by ten semi-mechanized companies, generating 4 billion CFA francs in commercial value.

Gold dominated exports from the mining sector, accounting for 44.28% (491.88 billion CFA francs) of the total value, followed by phosphoric acid at 27.08% (300.73 billion CFA francs). Ousmane Mbaye, president of the senegal Chamber of Mines, emphasized the need for greater private sector involvement in local content advancement to capitalize on these opportunities.

While celebrating Senegal’s commitment to transparency, Papa Fara Diallo of civil society highlighted ongoing challenges, including data completeness and reliability, revenue management, managing public expectations, addressing externalities, and the impact of implementing the EITI standard.

Facebook Pixel Implementation: Tracking Website Activity

This article explains the implementation of the Facebook Pixel, a crucial tool for tracking website activity and optimizing advertising campaigns.Understanding how the pixel works is essential for businesses aiming to improve their online marketing efforts and reach a wider audience.

The provided code snippet shows a standard Facebook Pixel implementation. It uses JavaScript to load the Facebook Pixel library and then initiates tracking events. The ‘init’ function sets up the pixel with a specific ID (‘458424884342994’ in this case), while ‘track’ sends data to Facebook about website visits.This allows businesses to monitor key metrics and understand user behavior on their site.

The importance of accurate tracking cannot be overstated. As one marketing expert noted, “Data is the lifeblood of effective advertising.” This statement highlights the critical role of tools like the Facebook Pixel in providing the insights needed to make informed decisions about ad spending and targeting.

The Facebook Pixel isn’t just about tracking page views. It allows businesses to track a wide range of actions,such as adding items to a shopping cart,completing purchases,or signing up for newsletters. This granular level of data provides a comprehensive understanding of the customer journey, enabling businesses to optimize their marketing funnels and improve conversion rates.

For example, a small business selling handcrafted jewelry could use the facebook Pixel to track which products are viewed most often, which ads are driving the most traffic, and which customers are most likely to make a purchase.This information allows them to tailor their marketing efforts,focusing on the most effective strategies and maximizing their return on investment (ROI).

Implementing the Facebook Pixel correctly is crucial for accurate data collection. Errors in the code or incorrect setup can lead to inaccurate reporting and ineffective advertising campaigns. Businesses should ensure they follow Facebook’s guidelines carefully and consult their documentation for best practices.

the Facebook Pixel is a powerful tool for businesses of all sizes. By providing detailed insights into website activity, it empowers businesses to make data-driven decisions, optimize their marketing strategies, and ultimately achieve greater success in their online marketing endeavors. The proper implementation, as shown in the provided code snippet, is the first step towards harnessing the full potential of this valuable resource.

(Note: Replace “ with actual image code from WordPress media library. The ID 123 is a placeholder and should be replaced with the actual ID of your image.)

Senegal’s Extractive Sector: Revenue Surge and the Rise of Transparency

World-Today-News.com Senior Editor, Michael Davis, sits down with Dr. Aminata Cissé, Economist and Specialist in Resource Governance, to discuss senegal’s extraordinary growth in extractive industries revenue.



Michael Davis: Dr. cissé, Senegal’s recent EITI report revealed a remarkable 39% increase in extractive sector revenue. What are the key factors driving this significant growth?





Dr. Aminata Cissé: The surge in revenue is truly impressive and stems from several contributing factors. Firstly, we’ve seen a substantial increase in mining sector revenue, especially from gold production. This can be attributed to favorable global gold prices and increased output from existing mines like Sabodala Gold.



Secondly,the hydrocarbon sector,though smaller,has also contributed to this growth with increased corporate taxes and dividends from companies like the Chemical Industries of Senegal.



Senegal’s commitment to transparency and good governance, as evidenced by its participation in the Extractive Industries Transparency Initiative (EITI), is playing a key role in attracting investment and ensuring efficient revenue collection.



Davis: The report also included data on artisanal and small-scale mining for the first time. What does this inclusion signify in terms of Senegal’s commitment to transparency?



Dr.Cissé: This is a significant step forward.Including artisanal and small-scale mining data demonstrates Senegal’s dedication to capturing a complete picture of its extractive sector.Often, this sector operates in the informal economy, making it difficult to track. By integrating this data,Senegal is promoting greater accountability and ensuring that all stakeholders,including artisanal miners,benefit from the sector’s growth.



Davis: While revenue growth is positive, the report also highlighted some challenges, such as managing public expectations and addressing environmental concerns. How can Senegal balance economic growth with sustainability?



Dr. Cissé: It’s a delicate balancing act.Senegal needs to ensure that the benefits of its extractive industries translate into social and economic advancement for all citizens.



This requires robust environmental regulations,



responsible mining practices, and strong social safety nets.



furthermore, investing in diversification and promoting enduring industries beyond extractives is crucial for long-term economic stability.



Davis:



Looking ahead, what are the key priorities for Senegal in terms of managing its extractive resources?



Dr. Cissé: Firstly, maintaining transparency and accountability through initiatives like EITI is essential.Second, investing in local content development, ensuring that Senegalese businesses and workers benefit from the sector’s growth, is vital.



promoting responsible environmental management and social impact mitigation will be crucial for ensuring sustainability.



Davis:



thank you for your insights, Dr. Cissé.