• Minimum net IRR of 12%
  • Minimum total project investment of CFA francs 300 million
  • Investments between CFA francs 50 and 300 million for the SME Sub Fund
  • Social and economic impact 
  • Projects or companies with high growth potential and job creation in Senegal.
  • Projects in the sectors of Plan Senegal Emergent (PSE)
  • Formal request from the project owner / developer
  • Project’s description
  • Trade Register and Chattel Loan (RCCM) registration;
  • Tax identification number (NINEA)
  • Public notice in the “Journal Officiel”
  • Shareholding structure
  • Financial statements from the last 3 fiscal years
  • Tax clearance 

FONSIS invests primarily in targeted sectors of PSE:

  • Agriculture
  • Fishing
  • Infrastructure
  • Logistics hubs
  • Industrial hubs
  • Energy
  • Social housing
  • Mining
  • Services (ICT, education, health, business parks and tourism, etc.)
  • Preliminary analysis of the project
  • Technical, financial, accounting, legal, environmental and social due diligence
  • Approval by the FONSIS decision-making bodies (investment committee, board of directors)
  • Negotiation of shareholders’ agreement
  • Disbursement after fulfillment of conditions precedent (including debt raising)
  • Monitoring and reporting
  • Distribution of dividends, if applicable
  • Exit
  • Investment in equity and/or quasi-equity
  • Fundraising
  • Consulting and strategic planning
  • In-cash share capital;
  • In-kind share capital in the form of State-owned assets;
  • Grants from the State through it budget allocation;
  • Debt raised for specific investment opportunities;
  • Resources from unilateral, bilateral and multilateral cooperation;
  • Dividends from portfolio companies. 

FONSIS participates through:

  • Equity
  • Quasi-equity (convertible & subordinated loans)
  • Fund raising
  • Strategic advice and industry expertise
  • Research of partnerships and markets