Senegal: Dakar's Municipal Bond Issue - a Tale of Two Cities

analysis

Central and municipal governments are being overwhelmed by the rapid growth of Africa's cities. Strategic planning has been insufficient and the provision of basic services to residents is worsening.

Since the 1990s, widespread devolution has substantially shifted responsibility for coping with urbanisation to local authorities, yet municipal governments across Africa receive a paltry share of national income with which to discharge their responsibilities.1 Responsible and proactive city authorities are examining how to improve revenue generation and diversify their sources of finance.

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