Karpowership in Senegal’s off-budget accounts: CFA13 billion in two entries

The record

CFA3.7 billion and CFA9.3 billion

Annex 2 of the February 2025 report lists FCFA3,701,709,076 against Senelec letter 122 of 19 December 2023 and FCFA9,298,290,923 against letter 121 of the same date. The sum is FCFA12,999,999,999. [1] (p.48)

The exact amounts of the two entries reported in the press as CFA3.7 billion and CFA9.2 billion total approximately CFA13 billion. The calculation includes only the entries described solely as “karpowership”; rows labelled “Standard chartered bank/karpowership” are excluded because their ultimate recipients and transaction classification should not be assumed. The total is neither the full contract value nor a proven public loss. [1] [4]

The budget basis of the spending

The relevant section examines the use of part of the 2023 excess financing without budget cover. The table is supported by transfer orders and agreements. Procurement procedures were excluded from the audit’s scope. [1] (pp.8, 29–30)

On 18 February 2025, Le Soleil, citing Libération, described the two payments as unjustified and said the 2019 contract had been signed without a competitive tender. The audit record must be read separately from that press account: questioning budget authority does not mean no payment documents exist. The allegation about procurement is not presented here as a judicial finding. [4]

An electricity agreement dating from 2019

Karpowership’s Senegal project page says it signed with Senelec for a 235 MW vessel in August 2019 and began operations in October. The company reports a further 100 MW contract in December 2021. [3]

In a written question dated 7 February 2025, MP Cheikh Ahmed Tidiane Youm requested the contract, total spending to that date and the environmental assessment. Vie-Publique.sn publishes the text and document images. [2]

The sources reviewed contained no specific Karpowership explanation of the budget basis of these two payment entries. The company’s project description is not presented as a response to the audit findings.

The open questions

Which invoices do the two entries cover? Who authorised payment, and which budget line was used? How were acceptance of the service and reconciliation documented? Was any subsequent correction or offset recorded?

No specific Senegalese criminal case or conviction against Karpowership concerning these payments was verified in this review. The audit entries alone do not prove bribery, non-delivery of services or loss of the entire sum. The file remains open to new documents and responses from the parties.