On November 3, 2026, Mauritania's Minister of Economic Affairs and Development, Mohamedou Ahmedou Amhimiyd, and German Regional Advisor for the KFW Development Bank, Sonja Hoss, signed a financial agreement in Nouakchott to support employment in Mauritania. The agreement provides €15 million, approximately 675 million ouguiyas, to finance small and medium-sized enterprises. This financing aims to enhance support for these enterprises, promoting value creation, growth, and employment in Mauritania.
The agreement aligns with Mauritania's development goals and the vision of President Mohamed Ould Cheikh El Ghazouani, who prioritizes youth empowerment and economic diversification. Minister Amhimiyd emphasized the strong and fruitful partnership between Mauritania and Germany in various economic and social sectors. He highlighted that addressing employment challenges is a key aspect of this partnership, particularly in supporting small and medium-sized enterprises.
German Ambassador to Mauritania, Florian Rindl, expressed his satisfaction with the partnership, which strengthens the long-standing friendship and cooperation between the two countries. He noted that the agreement reflects the mutual commitment to trust and open dialogue, hoping it will improve living conditions for Mauritanian youth. The agreement supports the country's efforts to address employment challenges and promote economic growth.
The financing provided by Germany through the KFW Development Bank will help bridge the financing gap for small and medium-sized enterprises in Mauritania. Minister Amhimiyd stressed the importance of addressing the financing needs of these enterprises, which are crucial for job creation and economic development. The agreement is expected to have a positive impact on the country's economic prospects.
The signing ceremony was attended by several high-ranking officials, including Mauritania's Central Bank Governor, Mohamed Aminouuld Al-Dhahabi, and the Secretary General of the Ministry of Youth Empowerment, Employment, Sports, and Civil Service, Ki Amadou Haj. The event marked an important milestone in the bilateral cooperation between Mauritania and Germany.
The agreement is a significant step in strengthening the economic partnership between Mauritania and Germany, which has been a long-standing development partner for the country. The two countries have collaborated on various projects aimed at promoting economic growth, reducing poverty, and improving living standards. This new agreement is expected to build on these efforts and contribute to Mauritania's sustainable development.
The support provided through this agreement is expected to have a positive impact on the lives of Mauritanian citizens, particularly young people, who face significant challenges in accessing employment opportunities. By promoting entrepreneurship and job creation, the agreement aims to contribute to the country's economic growth and social stability.
Key points
- The agreement provides €15 million to support employment in Mauritania through financing for small and medium-sized enterprises.
- The partnership between Mauritania and Germany aims to promote economic growth, job creation, and youth empowerment.
- The agreement aligns with Mauritania's development goals and the vision of President Mohamed Ould Cheikh El Ghazouani.
