Gambiaj.com – (DAKAR, Senegal) – The West African Energy (WAE) power plant, a landmark collaboration between local investors and Senegal’s National Electricity Company (Senelec), was once seen as a beacon of national energy sovereignty. However, the dream of a 100% Senegalese-led energy success story has been shattered following revelations of financial mismanagement and the arrest of Samuel Sarr, the project’s key promoter.

Initially celebrated as Senegal’s largest energy initiative entirely driven by local expertise and resources, the project was poised to redefine the nation’s energy landscape. During a site visit earlier this year, Senelec’s General Director, Papa Toby Gaye, expressed his enthusiasm:
“This is an innovative project in every sense. From the call for tenders to financing, every aspect was handled by Senegalese. Unlike other independent power projects dominated by foreign investors, this marks a turning point for Senelec and Senegal.”

The Cap des Biches power plant, where Senelec holds a 15% stake, embodied a collaborative vision. Senegalese investors, including Arona Dia (33% majority shareholder), Samuel Sarr (12%), and others, pooled resources to raise €430 million (approximately CFA 283 billion). Partnerships with international firms such as Calik Energy and General Electric complemented the local initiative. The project was expected to reduce Senelec’s production costs by 40% and advance the country’s Gas-to-Power strategy, with universal electricity access in sight.

Samuel Sarr’s Role and Downfall

Samuel Sarr, a former Energy Minister and General Manager of Senelec under President Abdoulaye Wade, was a central figure in the WAE project. Sarr’s ability to rally Senegalese investors like Moustapha Ndiaye, Abdoulaye Dia, and Khadim Ba turned the ambitious vision into reality. Malick Niass, WAE’s Technical Director, emphasized Sarr’s pivotal role during the project’s launch:
“This project, the largest in Senegal and the sub-region, owes its existence to Samuel Sarr’s leadership and dedication.”

Yet, as the project neared its operational phase, the unity that defined its early success began to crumble. In late November 2024, Sarr was arrested on charges of misuse of corporate assets following allegations of financial irregularities uncovered during an audit by the Mazars firm.

Allegations of Mismanagement

The audit revealed questionable transactions, including a CFA 3.9 billion transfer to Afrinvest SAU, a company linked to Sarr. Additional concerns included undocumented payments totaling CFA 1.91 billion to third parties and significant cash withdrawals. Contracts with partners such as Ndar Energy and Calik Enerji Swiss AG were flagged for irregular financial flows requiring further investigation.

To address these concerns, an independent financial expert has been appointed to audit WAE’s internal operations, analyze agreements, and trace financial flows. The expert’s report, due within 30 days, aims to clarify the anomalies and determine responsibilities.

A Dream Deferred

The scandal has cast a shadow over what was once hailed as a testament to Senegalese ingenuity. While the power plant was set to revolutionize Senegal’s energy sector, the allegations of embezzlement and governance failures have thrown its future into uncertainty.

The project’s fallout serves as a sobering reminder of the challenges facing large-scale national initiatives, even when built on the foundation of local expertise and resources. For Senegal, the dream of energy sovereignty remains elusive as investigations continue and the WAE story unfolds.