Contrary to some claims, the Senegalese state has never held 100% of the capital of Industries Chimiques du Sénégal (ICS), according to official sources. The company, a major producer of phosphoric acid and fertilizers, has always had a mixed ownership structure involving private and public shareholders.
As of the latest verified data, the Senegalese government owns a significant but minority stake in ICS, with the majority held by private investors, including international partners. This structure dates back to the company's founding and has been maintained through various restructuring phases.
The clarification comes amid ongoing discussions about the company's operations and future investments. ICS plays a key role in Senegal's economy, contributing to exports and employment in the mining and chemical sectors.
