Dakar, October 15, 2024 – Sovereign Strategic Investment Fund (FONSIS), through its Islamic Recovery Fund, has allocated an envelope of five (5) billion CFA francs to Taysir Finance. This financing is designed to support Senegalese small and medium-sized enterprises (SMEs) by giving them access to financing at the best market conditions, with an attractive rate of 5.5%.

Cette initiative a pour objectif d’accélérer la relance des activités des PME, de stimuler la création d’emplois et de favoriser la croissance économique. Elle s’inscrit dans les efforts du FONSIS pour redynamiser le tissu existant de PME/PMI et renforcer l’entrepreneuriat. 

The FCFA 20 billion Islamic Recovery Fund was set up by FONSIS, in collaboration with the Islamic Development Bank (IDB) and the State of Senegal. The fund provides equity and debt financing for SMEs through partner banks. Taysir Finance thus becomes the third partner, after Banque Islamique du Sénégal and Coris Bank Baraka, to join this initiative in favor of SMEs. 

M. Babacar Gning, Executive Director of FONSIS, said: "This partnership with Taysir Finance reflects the commitment of Senegal's sovereign wealth fund to co-develop, with banks and SFDs, innovative financing solutions tailored to the needs of the private sector. Investing in SMEs is a strategic area of intervention for FONSIS, given its significant leverage effect on job creation and the modernization of our economy". 

M. Adama Chairman of the Board of Directors of Taysir Finance, added: "We are delighted to participate in this initiative, which strengthens our ability to support SMEs and the informal sector, particularly through microfinance. This partnership with FONSIS will enable us to improve SMEs' access to financing, while strengthening their capacity to absorb investments". 

This partnership illustrates the two institutions' commitment to promoting inclusive and responsible finance, in line with the principles of Islamic finance. 

About Taysir Finance 

Taysir Finance est un acteur majeur de la microfinance au Sénégal, spécialisé dans l’offre de solutions financières adaptées aux petites et moyennes entreprises ainsi qu’au secteur informel. Taysir Finance se distingue par son approche inclusive qui repose sur des principes de la finance islamique et de l’économie solidaire.