I am pleased to welcome you to the official website of the Sovereign Fund for Strategic Investments (FONSIS), an innovative instrument initiated by the State of Senegal to serve as its “Private Driving Force” with the aim to grow the country’s assets and boost its economy.
Through the creation of the Fund, the State of Senegal crystallizes its choice to use the powerful leverage of Private Equity to generate sustainable growth, hence leading to jobs and wealth creation. Thus, FONSIS will play a major role in federating domestic and foreign investors around strategic projects, including those of Plan Senegal Emergent (PSE), while developing the local private sector by creating national champions.
The State of Senegal, whose objective is to become a Sovereign Investor, has decided, as the majority shareholder of the Fund, to allocate to FONSIS CFA francs 500 billion worth of capital (c. USD 1 billion, essentially made off in-kind State-owned assets), which are to be leveraged to raise additional resources to inject in productive investments. Thus, despite the lack of budget surpluses or extra State revenues from natural resources or foreign exchange reserves, the Government of Senegal opted for this unique model in Africa, which consists of relying on the State’s various shareholdings in local companies as well as other State-owned assets. Thereby, the Senegal’s Generational Fund will be funded with a share of future earnings generated by FONSIS.
I invite all stakeholders to approach our team in order to build long-lasting and mutually rewarding partnerships.
All for Investment and Action for an Emerging Senegal!
Pape Demba Diallo/CEO