Fonds et véhicules de financements

Funds and financing vehicles

infrastructure project preparation fund

FPI is an acronym for Infrastructure Project Preparation Facility, which provides equity financing for infrastructure projects in priority sectors of the economy, such as agro-industry, energy, health, water & sanitation and services. A partnership agreement was signed in November 2021 with Afreximbank to co-finance projects to the tune of $50 million. articles Fonsis-afreximbank Fonsis-afreximbank articles

SME financing funds:

TERANGA CAPITAL

Teranga Capital, a pioneering impact investment fund in Senegal, supports start-up and developing companies in all value-added sectors of the economy. Teranga Capital was set up with the private sector, including I&P, Sonatel, Askia Assurance, Société Générale Sénégal and institutions such as the European Union. www.terangacapital.com

OYASS CAPITAL

To accelerate the growth of SMEs. Oyass Capital was set up in partnership with the German Development Cooperation through KFW, as part of the Compact with Africa. The financing agreement was signed between the State of Senegal and KfW on 12 November 2021. This marks an acceleration of the Oyass Capital Fund, which has received an initial financial close of 30 million euros, or 20 billion CFA francs. The World Bank, a partner of Oyass Capital through the post COVID-19 "ETER" recovery programme launched in 2021, is expected to provide additional financing of €24 million.
Over the next few years, the Oyass Capital Fund will reach a size of 79 million euros, or 52 billion CFA francs.

...some with a thematic or sectoral specialisation:

The Agri Fund

The Agri Fund supports the development of agriculture in the Valley by strengthening the investment, debt and governance capacities of SMEs. The Fonds Agri has an initial budget of FCFA 1 billion for its pilot project. By the end of December 2021, the Agri Fund had financed the DB Foods factory, the Rassoulna company and identified two other investments covering the amount of the pilot phase.
To enable the Fund to continue its activities and support a priority sector (40% of the working population), funds are being raised to increase the Agri Fund to 10 billion FCFA to enable it to invest beyond the initial northern zone.

WE! FUND

WE! Fund to facilitate access to finance with an economic impact on women. The Women' Economic empowerment Fund (WE! Fund) was set up in November 2019 in partnership with United Nations Capital Development Fund (UNCDF). Worth CFAF 1 billion, the fund was to be increased to CFAF 6 billion at the end of the pilot phase. In 2022, a target of raising the fund to 10 billion FCFA has been validated as part of the second round. Meetings are underway with partners who have confirmed their interest and commitment. The WE !Fund will enter its second phase in 2023, with a budget of FCFA 6.5 billion from the African Development Bank. www.wefund.sn

Specific financing vehicles:

PANACEA

PANACEAto finance business recovery operations. FONSIS, via this vehicle, intervenes to restructure companies, private or public, having a strategic impact or operating in a strategic sector for the State. The aim is to revive the economic fabric by safeguarding jobs and investments. PANACEA began operations in 2021 with the restructuring of the pharmaceutical company MédiS Sénégal. FONSIS is a shareholder in MédiS Sénégal alongside MédiS International, based in Tunisia www.medis.com.tn

KAJOM CAPITAL

Kajom Capital, an investment vehicle whose mission is to finance access to home ownership through the long-term hire-purchase mechanism, thanks to the mobilisation of patient capital (equity, concessional debt). FONSIS counts the "Fonds pour l'Habitat Social (FHS)" and the International Finance Corporation (IFC) of the World Bank among its investors. Kajom Capital will buy quality homes from developers and make them available to the local population, including those on low incomes or living in informal housing. SNHLM is one of the partners expected to deliver the homes. Kajom Capital is contributing to the 100,000 homes project.

ABOUT FONSIS

The Strategic Investment Fund of Senegal (FONSIS SA.) was created by Law 2012-34 adopted on 27 December 2012. It adheres to the Santiago Principles which govern the operation of the largest international sovereign wealth funds of member countries of the International Monetary Fund (IMF).