Locafrique, a leading company in the provision of leasing finance in Senegal, is also the first of its kind in the country. Relaunched by the emblematic leader Khadim Bâ, this company has earned its letters of nobility, trust and recognition from its customers and partners who have been able to count on its support. A company to which the Senegalese economy also owes a lot…
The history of Locafrique echoes the remarkable career of Khadim Bâ, its leader and founder. After a brilliant university career in France and Canada where he specialized in the management of hydrocarbons, this businessman chose to settle in Senegal, his native land and his heart, in order to work in his service.
Locafrique, which was then called « Compagnie Ouest Africaine de Crédit-Bail« , was created in 1977 by the Senegalese company « Eau, Electricité de l’Afrique de l’Ouest » (EEOA). From a technical point of view, it benefited from the assistance of Locafrance, a company specialized in corporate financing.
A new start with Khadim Bâ
Considered the first financial institution to offer leasing products in Senegal, Locafrique experienced some difficulties as it entered the third millennium. Fortunately, its buyout and its takeover by Khadim Bâ, were salutary for Locafrique. Holding the position of General Manager within Locafrique, Khadim Bâ brought his managerial know-how and his remarkable common sense, thanks to which Locafrique was able to intelligently restructure its activities. The company was thus able to bounce back to become the pioneering and leading financial institution in Africa in the field of Leasing and Leasing Finance. It is also one of the few Senegalese companies listed on the London Stock Exchange.
With the SAR: the black gold bet
In 2017, Locafrique, under the impetus of Khadim Bâ, will acquire a 34% stake in the capital of the Société Africaine de Raffinage (SAR). By taking up such a challenge, the young leader of Locafrique has made his contribution to Senegal’s economic development, with the promise that the country will become a leading African oil zone with multiplied refining capacities.
An activity dedicated to farmers and local businesses
Locafrique’s primary vocation is the financing of companies (especially SMEs) through attractive solutions throughout their life cycle. More precisely, Locafrique’s action is focused on high-potential sectors (construction, industry, transport, agriculture or services). It intervenes to help entrepreneurs to have greater visibility, to strengthen their assets, to develop and/or renew their operating equipment (graders, graders, shovels, tractor/offset, combines, loggers, motor pumps, flatbed trucks, rice mills, storage units, etc…), with the possibility of eventually becoming owners. Locafrique also helps new Senegalese entrepreneurs with projects, follows their development, while advising them.
Locafrique has set up financing adapted according to the nature of the activity. At present, the company managed by Khadim Bâ is therefore able to offer a range of financing solutions such as leasing with a purchase option (LOA), traditional credit or traditional leasing. Moreover, with its consumer credit offer, Locafrique now goes beyond a range of B2B financial products to reach a larger part of the population, individuals as well as institutions.
For nearly 40 years, Locafrique has thus participated in the birth of projects, the sustainability of activities and the expansion of companies that today radiate well beyond the Senegalese borders.
Locafrique: values that endure
Locafrique’s success story is cited as a reference in the brilliant report « Companies to inspire Africa » published by the London Stock Exchange Group. The company was not only noted for its crucial role in the development of Senegal but also for the values it conveys.
A committed and attentive partner
Faithful to its objective of supporting companies in their development, extension or diversification, Locafrique is committed to supporting its VSE/SME customers, offering them much more than a simple service. Its slogan « You have ambition, we give you wings », sums up in itself the DNA of a company ready to accompany the carriers of ideas and to support them, in the development of their entrepreneurial project.
Along with financing, consulting is the spearhead of Locafrique. The expertise of Kadhim Bâ and his collaborators, their cross-disciplinary view of the Senegalese economic fabric and their involvement in structuring projects have propelled Locafrique to the rank of reference financial partner.
A creative and innovative company
Locafrique markets new financial products with features that make them significantly better performing, more attractive and more original than existing ones. In this way, the leasing institution is responding to a real need, while demonstrating real organizational innovation.
The SMART culture as a watermark
To translate its managerial objectives, Locafrique has adopted the « SMART » method which aims at improving the quality of its objectives, making them Specific, Measurable, Attainable, Realistic and Time-based.
Focus on Customer Satisfaction
Today’s solutions lead to tomorrow’s success. Thanks to its long experience in the leasing business, Locafrique quickly takes the measure of its customers’ aspirations, to guide them in the best possible way and offer them the best to boost their company’s performance and productivity.
A professionalism tinged with patriotism
Thanks to its patriotic commitment, Locafrique has greatly contributed to the realization of structuring projects generating remarkable socio-economic benefits. Its action in support of project leaders plays a major role in job creation and the fight against unemployment.
Locafrique has never ceased to place the Human being at the heart of its action. In return, it receives the solid support of its teams whose skills and professionalism are matched only by their fierce willingness to take up exciting challenges and to contribute to the future of Senegal.