Finance / Banking
Address: 2, Place de l’Indépendance
BP 3391, Dakar - Senegal
Tel: (+221) 33 849 1111 Fax : (+221) 33 849 1105
General Manager: PAPA SALL
Citi was established in Senegal in 1975, and is today the only U.S. bank in the country.
Business : Citi provides a wide range of banking services, including fund transfers, lending, foreign exchange, trade and treasury solutions, to the government and public sector entities, multinationals and top tier local corporations, as well as non-governmental organizations. Through its global network, Citi is well positioned to help its clients in Senegal tap international capital markets, which is of strategic importance to the government as it seeks financing for economic and infrastructure development. Citi also provides its client base with electronic banking solutions including the Citi Direct Online Banking platform for cash management and Citi FX Pulse for clients trading FX.
From Senegal, Citi operates an important correspondent banking business that covers banking relationships across the West Africa Economic & Monetary Union (WAEMU) and beyond.
Landmark Transactions : Since first setting up operations in Dakar, Citi has worked on some key transactions beginning with the landmark deal back in 1977: the financing of a Boeing jet for the Government of Senegal. In 2007 Citi arranged the first local currency bond issue for Senegal and in 2009 Citi successfully completed the Republic’s first international bond placement, a US$200 million offering.
More recently in July 2014 the State of Senegal priced a debut local currency, CFA 100 Billion 6.25% 4-year Sukuk – the largest Sukuk offering in Africa to date, for which Citi acted as Joint Lead Manager and Lead Broker. In the same month, Senegal tapped the international markets with a US$500 million 10-year 6.250% bond offering and Citi acted as Joint Lead Manager.
Recently, Citi, along with 3 other banks, has been licensed to offer its corporate clients an electronic tax payment platform as part of the Government’s focus on efficient tax collection and reconciliation.
Awards : In 2011 and 2012, Citi Senegal won Best Domestic Cash Management Bank in Senegal, recording the highest electronic-based settlement volumes in the country. Memberships : Citi is a member of the American Chamber of Commerce (AmCham). Citi in the Community : Global Community Day is celebrated annually with volunteering initiatives and Citi has regularly sponsored country-level programmes including Save the Children, Senegal Malaria Prevention, Flood Relief, Habitat for Humanity and STAESEN.
Since 2008 Citi Senegal has sponsored Junior Achievement which develops business skills for young entrepreneurs.