While they represent more than 80% of Senegal’s industrial fabric, and against a backdrop of excess bank liquidity, only less than 18% of small- and medium-sized enterprises (SMEs) in the country have access to credit. This study sets out to identify the causes of their difficulty in accessing credit. The study is based on data from the World Bank’s Enterprise Survey for Senegal, and it uses a methodological approach based on logistic regression to identify the determinants of access to credit for SMEs. It found that having annual financial statements audited, being an innovating SME, being an exporting SME, having a high sales turnover, having fixed assets, and having a manager with long experience were the most important factors. The study also found that enterprises in the formal sector and those owned by women were more likely to have access to credit.
