FONSIS is established as an investment fund of international standard obeying the Santiago Principles that govern the operation of the largest international sovereign wealth funds of the member countries of the International Monetary Fund (IMF).
The fund-raising and management model chosen is that of sovereign wealth funds, mainly with assets transferred from the State (state ownership and participation in local companies). FONSIS will initially focus its investments in Senegal, even if its law of creation allows it to invest abroad.
Inception date December 27, 2012
The Sovereign Fund for Strategic Investments (FONSIS SA) was created by Law 2012-34 adopted on December 27, 2012 by the National Assembly of Senegal and promulgated on December 31, 2012 by the President of the Republic of Senegal, His Excellency Mr. Macky SALL.
29 Juillet 2013
On July 29, 2013, FONSIS was set up as a public limited company holding investment company, with a board of directors, with capital fully owned by the State of Senegal and its dismemberments.
FONSIS officially started its activities in October 2013, with the appointment of its Managing Director. With this instrument, the state of Senegal, until now regulatory, will now strengthen its investments alongside the private sector to boost productive economic activity.