"SENELEC has not left the evaluation process". This is the reaction of Senegal's National Electricity Company after a statement from Bloomfield Investment. SENELEC explains that it chose another organization after a call for tender for the period 2018-2019.
Pan-African credit rating agency Bloomfield announced on Tuesday that it received a copy from aDakar.com and Abidjan.Net, the decision of the Senegal National Electricity Company (SENELEC) to leave the Bloomfield Investment Financial Assessment process. Following this information, SENELEC has responded formally.
In a statement published, the Senegal company has shed light on the process that led to its withdrawal from Bloomfield Investment. "In 2017, Senelec had been subject to a voluntary financial rating process that was still in force and, for that purpose, had consulted the two credit rating agencies approved by CREPMF, namely WARA and Bloomfield Investment, a commission from Senegal , Bloomfield's bid was selected, "said General Manager of SENELEC.
Senegal's National Electricity Company says the consultation that led it to maintain the Bloomfield Investment rating agency was for the period 2017-2018. And for the period 2018-2019, it is a competitive tender that has been selected.
"As this consultation only applies for the period 2017-2018, Senelec has published a call for tenders for 2018-2019 and the two credit rating agencies approved by CREMPF (Bloomfield and WARA) submitted proposals for the period 2018-2019 "At the end of the process and after analyzing the technical and financial proposals, the WARA offer was selected, the WARA contract was signed and the mission is underway," said the SENELEC press release.
CEO Mouhamadou Makhtar Cissé reiterated SENELEC's commitment to "comply with all the terms of a bond issue on the UMEOA regional financial market".