Mauritania has strengthened its economic partnership with Germany by signing a new financing agreement worth 15 million euros, aimed at supporting small and medium-sized enterprises (SMEs) and expanding employment opportunities. This move reflects the Mauritanian authorities' focus on revitalizing the private sector, encouraging investment, and creating additional job opportunities for youth, as employment remains one of the most prominent economic and social challenges facing the country.
The signing ceremony took place on the evening of Tuesday, November 3, 2026, in the capital Nouakchott. It was signed by Mauritania's Minister of Economic Affairs and Development, Mohamedou Ahmedou M'Haimid, and the regional director of the German Development Bank (KfW), Sonja Hohs, in the presence of the German Ambassador to Mauritania, Florian Rendel, along with several government and economic officials.
The financial value of the grant amounts to approximately 15 million euros, equivalent to nearly 675 million new Mauritanian ouguiyas. These resources are allocated to strengthen financing mechanisms for small and medium-sized enterprises, helping them develop productive activities, improve investment capacities, and contribute to economic growth.
This agreement holds special significance given the role that SMEs can play in diversifying the national economy—particularly in sectors related to services, trade, manufacturing industries, and local activities—where limited access to financing remains one of the primary obstacles facing entrepreneurs and economic initiatives.
The Minister of Economic Affairs and Development emphasized that the agreement falls within the framework of the ongoing partnership between Mauritania and Germany, aligning with development orientations aimed at building a more diversified economy capable of absorbing youth into the labor market.
The minister noted that the authorities are working to implement a set of reforms related to improving the business climate, simplifying administrative procedures, developing tax incentives, reducing certain production costs, and strengthening the vocational training system to better connect it with the needs of the national economy.
He also stressed the importance of mobilizing new financial resources and developing innovative financing tools that respond to the specificities of SMEs, while directing more investments toward projects capable of generating added value and sustainable jobs.
For his part, German Ambassador Florian Rendel expressed satisfaction with the development of cooperative relations between the two countries, considering the agreement a new milestone in the path of developmental partnership based on mutual interests, dialogue, and coordination.
The German official highlighted the importance of supporting economic initiatives capable of improving living conditions for Mauritanian youth and providing broader opportunities for participation in economic activity, especially through the development of local private sector capacities.
The signing ceremony was attended by the Governor of the Central Bank of Mauritania, Mohamed Lemine Ould Dhehby, alongside officials from sectors related to employment, finance, and economic cooperation, signaling the institutional nature of this program.
The agreement is part of Mauritania's broader efforts to strengthen relations with international partners and leverage development financing to address challenges related to unemployment and weak investment financing, while striving to expand the base of non-traditional economic activities.
The expected outcomes of this funding remain contingent upon the capacity of the implementing institutions to direct resources toward eligible projects and ensure transparency and efficiency in their utilization, thereby turning financial commitments into genuine employment opportunities and sustainable economic projects.
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